Formula 1 retains British Grand Prix at Silverstone for another decade
Formula 1 fans can rejoice following confirmation the British Grand Prix will continue at the iconic Silverstone circuit until at least 2034.
F1 has officially announced a 10-year hosting contract extension with the British Racing Drivers’ Club (BRDC), owner of the legendary English track.
This new agreement doubles the length of the previous hosting contract, which covered the 2020-24 cycle. The extension comes after a period of uncertainty, highlighted by a break clause inserted in the 2017 contract that threatened Silverstone’s hosting status post-2019. Fortunately, the latest deal secures the British Grand Prix’s legacy at Silverstone, a venue steeped in F1 history since hosting the inaugural Grand Prix in 1950.
The 2023 edition of the British Grand Prix attracted an impressive crowd of 480,000 over the race weekend, showcasing the event’s enduring popularity. Beyond the thrilling on-track action, fans can expect an enhanced experience with concerts and various entertainment options.
“Silverstone is an iconic venue at the heart of F1 history and as it approaches its ninth decade hosting grand prix, the event continues to attract fans from around the world for fantastic racing on the track and the amazing fan experience off it,” enthused Stefano Domenicali, F1’s president and chief executive.
CEO at Silverstone, Stuart Pringle, added, “This long-term commitment reflects the importance of the British Grand Prix to F1 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.”
The new hosting contract, reportedly valued at up to £300 million ($378.2 million).
This year’s British Grand Prix, title sponsored by Qatar Airways, is set to take place on July 7.
In addition to Silverstone, F1 has extended contracts with other iconic circuits, including Suzuka in Japan and Sao Paulo in Brazil, ensuring the series’ global reach and cementing its status as the pinnacle of motorsport. With a record-breaking 24-race calendar for the 2024 season, F1 continues to captivate audiences worldwide.