Sport Warwick: British GP must be affordable to retain F1 status

17:10  08 january  2018
17:10  08 january  2018 Source:   readsport.co

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Former British Racing Drivers Club president Derek Warwick believes the UK's status as the global 'home of motorsport' is no guarantee that the British Grand Prix will continue to feature on the Formula 1 calendar in the future.

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a close up of an umbrella: F1 Grand Prix of Great Britain - Practice © Mark Thompson/Getty Images Sport F1 Grand Prix of Great Britain - Practice

President of the BRDC Derek Warwick says in order for the British Grand Prix to keep hold of its place on the Formula 1 calendar post-2019, the event must become more affordable.

The BRDC triggered a break clause in Silverstone’s contract as host of the British Grand Prix last year, which had been intended to run until 2026, due to the racing drivers’ club recording annual loses year-on-year.

The track signed a 17-year deal with former chief executive Bernie Ecclestone back in 2009 that included a 5% escalator, meaning the cost to host the grand prix was £17 million in 2017 – and set to increase to £26 million by the end of the contract.

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Warwick expects negotiations over a potential new contact to begin in the new year, but insists Britain’s status as the ‘home of motorsport’ doesn’t guarantee the future of the British Grand Prix.

“The grand prix is too expensive, we’re losing money and that’s why we triggered the break clause,” Warwick told the .

“Britain is the home of motorsport. Does that mean there will always be a British Formula 1 Grand Prix? Absolutely not.

“Of course we want a British Grand Prix and for it to stay at Silverstone, but we want it to be affordable so that we can make just enough money to reinvest in the circuit.

“We can’t do that under the present deal.”

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