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Silverstone triggers break clause in F1 British GP deal
Silverstone’s owners, the British Racing Drivers’ Club, have triggered the break clause in their contract to host the British Grand Prix. The move means that under current terms, the final race at the venue will take place in 2019. After months of deliberation, the BRDC felt that it could not afford to keep the race going because it was certain to lose money in the future. That is because of a 5 percent escalator fee that British GP chiefs were supposed to pay – meaning the rights fee had jumped from an original £11.5 million in 2010 to £16.2 million in 2017. By 2026, which was supposed to be the final year of the contract, the fee would be £25 million. John Grant, Chairman of the...
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8y ago from Motorsport.com
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