user icon
user icon

British GP under threat due to financial dispute

  • Published on 12 May 2020 15:02
  • comments 0
  • By: Harry Mattocks

The British Grand Prix is under threat due to an ongoing dispute between Formula 1 and the circuit owners. 

F1 has asked Silverstone to hold races on consecutive weekends this year in order to try and fit as many races on the calendar as possible, on 19 and 26 July. 

However, it is rumoured that the circuit owners are demanding £15 million to host the races, which is the same price as what it usually pays Formula 1 as a race fee. 

F1 has offered to make sure that Silverstone is not losing money in the deal, but the £15 million is far higher than the cost of hosting the race behind closed doors. 

This figure is too high for F1 to stomach even when the compensation for the loss of ticket sales is accounted for, but it is said that the two parties are still negotiating. 

Silverstone gave this statement: "Silverstone and F1 remain in close dialogue with each other and the relevant authorities to try to make a British Grand Prix happen behind closed doors."

If a deal cannot be reached, it is suspected that Hockenheim will be the replacement. However it has also been mooted that Imola has an outside chance of hosting a race this season. 

A few F1 teams have reportedly expressed their annoyance at Silverstone's demands, especially at a time where F1 itself is struggling financially after seeing their profits cut dramatically. 

On a call with investors last week, although not directly mentioning Silverstone, it was clear to see what Chase Carey was talking about. 

"Whether it's the teams or promoters or sponsors, we're not going to be handing out candy to everybody.

"We're going to expect to be treated fairly, but we're going to deal with it as adults and with the expectation that 2021 is going to look like the business that we all knew four months ago."

Replies (0)

Login to reply

GB F1 70th Anniversary Grand Prix

Local time 

  • Friday weather-image

    Saturday weather-image

    Sunday weather-image

  • Free practice 1

    11:00 - 12:30

    Free practice 3

    11:00 - 12:00

    Race

    14:10 - 16:10

  • Free practice 2

    15:00 - 16:30

    Qualifying

    14:00 - 15:00

    Fastest lap

     

GB F1 70th Anniversary Grand Prix

Local time 

  • Fridayweather-image

  • Free practice 1

    11:00 - 12:30

    Free practice 2

    15:00 - 16:30

  • Saturdayweather-image

  • Free practice 3

    11:00 - 12:00

    Qualifying

    14:00 - 15:00

  • Sunday weather-image

  • Race

    14:10 - 16:10

    Fastest lap

    14:10 - 16:10

Related news

Test calendar

Circuit de Catalunya - Winter testing

Circuit de Catalunya - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

World Championship standings 2020

Show full world champion standings

Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
-
Spain
-
Spain
3 - Jul 5
Austria
10 - Jul 12
Austria
17 - Jul 19
Hungary
31 - Aug 2
United Kingdom
7 - Aug 9
United Kingdom
14 - Aug 16
Spain
28 - Aug 30
Belgium
4 - Sep 6
Italy
11 - Sep 13
Italy
25 - Sep 27
Russian
9 - Oct 11
Germany
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
3 - Jul 5
Austria Red Bull Ring
10 - Jul 12
Austria Red Bull Ring
17 - Jul 19
Hungary Hungaroring
31 - Aug 2
United Kingdom Silverstone
7 - Aug 9
United Kingdom Silverstone
14 - Aug 16
28 - Aug 30
4 - Sep 6
Italy Monza
11 - Sep 13
Italy Mugello
25 - Sep 27
Russian Sochi Autodrom
9 - Oct 11
Germany Nurburgring
See full schedule
show sidebar