Fresh doubt has been cast over the British Grand Prix at Silverstone after the circuit’s owners, the British Racing Drivers’ Club (BRDC), formally triggered the break clause in its contract with Formula 1 and its owners Liberty Media.
Unless a new contractual arrangement can be reached with Liberty, 2019 will be the last year that the British Grand Prix takes place at Silverstone – the only viable venue for a British GP.
The move comes after the BRDC announced they made a net loss of £7.6 million over the last two years hosting the British Grand Prix. John Grant, chairman of the British Racing Drivers’ Club, said: “This decision has been taken because it is not financially viable for us to deliver the British Grand Prix under the terms of our current contract. “We sustained losses of £2.8m in 2015 and £4.8m in 2016, and we expect to lose a similar amount this year. We have reached the tipping point where we can no longer let our passion for the sport rule our heads. “It would not only risk the very future of Silverstone and the BRDC, but also the British motorsport community that depends on us.”