Silverstone future secure after huge £300m British Grand Prix deal agreed

Thomas Maher

The future of the British Grand Prix has been secured, with Silverstone set to play host for at least another 10 years.

Silverstone will remain on the F1 calendar until, at least, 2034, with F1 signing a new deal to keep the British Grand Prix at the Northamptonshire-based circuit.

The signing of Silverstone on a new deal is understood to be costing the venue £30 million a year, costing a total of £300 million for the new 10-year contract.

Silverstone extends deal and F1 history with new contract

With Silverstone playing host to the very first Formula 1 Championship Grand Prix back in 1950, the new 10-year deal provides new security for the BRDC (British Racing Driver’s Club) to continue investment into the venue.

With F1 evolving race weekends into multi-faceted entertainment experiences, the focus is on ensuring venues are able to provide amenities for other forms of entertainment rather than being straightforward race tracks.

New, modern developments such as those seen in the Middle East, or new builds like the Las Vegas and Miami Grand Prix circuits – as well as the upcoming Madrid GP circuit – have pushed legacy circuits into making huge investments in their infrastructure and facilities, as well as bumping up the prices for securing new contracts.

“I am delighted to announce that the British Grand Prix will remain on the calendar for 10 more years with this agreement,” F1 CEO Stefano Domenicali said.

“Silverstone is an iconic venue at the heart of F1 history and as it approaches its ninth decade hosting Grands Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it.

“I would like to thank Stuart Pringle (Silverstone CEO) and the Silverstone team for their hard work and dedication to take the British Grand Prix to new heights and I look forward to working closely with them as they look to further improve the facilities and fan experience over the next 10 years.”

Last year, the British Grand Prix weekend attracted just under half a million fans, with 60 thousand fans camping in the fields nearby. This year’s event, running from the 4th to 7th of July, will host concerts every evening following the on-track activities, including appearances from the Kings of Leon and Stormy.

“This long-term commitment reflects the importance of the British Grand Prix to Formula 1 and their acknowledgment of our ability to deliver a world-class experience for the British fans who are among the most enthusiastic and knowledgeable in the world,” Pringle said.

“The cheers of support for the home teams, and particularly for the British drivers on the grid, make the Silverstone atmosphere unique and I am looking forward to harnessing this passion for our sport and taking the event to the next level in the coming decade.”

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Silverstone deal ends talk of London GP

With Silverstone’s contract coming up for renewal, speculation had emerged last year – and not for the first time – that the British Grand Prix could be moved to London to be held on a street circuit near the ExCel Centre.

The Times reported design consultants DAR and the LDN Collective were leading a proposal for a new development in the docklands, including floating grandstands.

“Once we have planning consent with a fair wind we can build this within 24 months,” Max Farrell, LDN Collective CEO, told The Times.

“So really, I think there’s a best-case scenario of having a London Grand Prix here in August 2026. If everyone gets behind it, that would be feasible.”

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