British Formula One fans will have something to cheer about this week, as the newly appointed managing director of Silverstone, Patrick Allen vows to cut ticket prices for the British Grand Prix by over £50.
The British Racing Drivers Club – better known as the BRDC to fans – decided that a management shake up was required at the privately run circuit. Former managing director of Silverstone Richard Phillips, along with two fellow executives Ed Brooks, and David Thompson, who were suspended in October due to an investigation have now been replaced by Allen who is renowned for his know-how and understanding in both sales and marketing.
At last years British Grand Prix, just over 100,000 fans were present to witness the now double world champion Lewis Hamilton take a dominant home victory. However, Allen wishes to take attendance figures to an all new high, and believes cutting ticket prices is the way to do it.
Speaking to th
e BBC, he states “If you want to get more people here every year you don’t do that by putting the ticket prices up. We are desperately trying to bring ticket prices down”
There is however a downside. The contract Silverstone currently hold with Formula One Management, and Bernie Ecclestone states that due to an escalator clause, the price to host the Grand Prix increases every year.
Allen however, believes this isn’t something to show too much concern over. By decreasing ticket prices by such a significant amount, and giving fans ultimately a cheaper but better experience; he expects the increase in the amount of fans visiting Silverstone to see the British Grand Prix, because of lower prices will help the famous circuit overcome the cost to host a race each year.
As a fan of Formula One myself and a attendee of the British Grand Prix for the last four years I find it difficult to see a downside to what Allen, and the rest of Silverstone management are proposing. Even though the earliest we could expect this price cut to take place is 2016; it is about time something is done about the ticket prices for all Formula One races, and not just Silverstone. The sport needs to makes itself more accessible to its’ rapidly expanding audience, and reducing ticket prices is certainly the way to do it.
Image courtesy of Mercedes F1
