Silverstone bosses have nine months to decide if they want to keep the expensive British Grand Prix beyond 2019.
Though the circuit has a contract to keep the race until 2026, the 2019 event could be the last if a break clause in the contract is exercised.
And, while the Formula One race might be the most high-profile event to take place at Silverstone, the costs have always been a key issue for the current owners, the BRDC.
“At the end of the day, if you can’t afford it, you can’t afford it,” BRDC president Derek Warwick told Autosport.
He also said that the current contract, with a 5% escalator clause, has become a financial burden.
“We’ve supported the British Grand Prix now for many years without any kind of third party support or government support,” Warwick said. “We’ve spent over £50 million building the Wing, changing the circuit, and doing everything Bernie [Ecclestone] wanted in order to secure the Grand Prix.
“But now we are in a situation where the escalator [clause] has become too expensive for us.”
Luckily for the organisers, the break clause could relieve them of the race.
The only problem is that, if the clause is to be exercised, notice has to be served to Bernie Ecclestone before the 2017 race. That gives them about nine months to make a decision. Not a long time whilst the fate of Silverstone itself is still unknown.
Four different parties have their eye on the circuit, including Jaguar Land Rover and MotorSport Vision, indeed, today the current bosses have revealed another end of October deadline for a decision to be made on a sale.
Warwick ended by offering hope the new owner could save the British Grand Prix but only ‘if they’ve got big pockets’.
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