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With doubt being cast over the future of the Britsh Grand Prix at Silverstone, it now seems that the track is inching ever closer to activating a break clause in its contract that will see them host its final race in 2019.
This comes as a result of rising costs, as the British Racing Drivers' Club signed a deal with former CEO Bernie Ecclestone in 2010 that would keep the track home of the British Grand Prix until 2026. The deal was signed at an initial £12million.
However, the deal also meant that the cost would increase by 5% year-by-year, meaning that the cost of hosting this year's event is £26million. July 14th is the final day that the BRDC can activate a clause, which is also the date the action for this year's event gets underway.
"It is highly probable we will have to activate the break clause," BRDC's John Grant told the Mail on Sunday. Another senior figure, who asked not to be named, added: "It has come too early for Liberty. They do not yet know which races they want to help keep on the calendar. For example, Chase has never been to a Grand Prix at Silverstone.
"It is not Liberty's fault. They would like to be of assistance but time has been too short and we will now give ourselves a longer stretch to sit down with them again and plan for the future."
Fergal Walsh
Grand Prix of Belgium
G. Zhou
f1fan0101
Posts: 1,804
Heartbreaking... Silverstone is the home of F1