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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."

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AT Grand Prix of Austria

Local time 

  • Friday weather-image

    Saturday weather-image

    Sunday weather-image

  • Free practice 1

    11:00 - 12:30

    Free practice 3

    12:00 - 13:00

    Race

    15:10 - 17:10

  • Free practice 2

    15:00 - 16:30

    Qualifying

    15:00 - 16:00

    Fastest lap

     

AT Grand Prix of Austria

Local time 

  • Fridayweather-image

  • Free practice 1

    11:00 - 12:30

    Free practice 2

    15:00 - 16:30

  • Saturdayweather-image

  • Free practice 3

    12:00 - 13:00

    Qualifying

    15:00 - 16:00

  • Sunday weather-image

  • Race

    15:10 - 17:10

    Fastest lap

    15:10 - 17:10

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Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
-
Spain
-
Spain
13 - Mar 15
Australia
20 - Mar 22
Bahrain
3 - Apr 5
Viet Nam
17 - Apr 19
China
1 - May 3
Netherlands
8 - May 10
Spain
21 - May 24
Monaco
5 - Jun 7
Azerbaijan
12 - Jun 14
Canada
26 - Jun 28
France
3 - Jul 5
Austria
17 - Jul 19
United Kingdom
31 - Aug 2
Hungary
28 - Aug 30
Belgium
4 - Sep 6
Italy
18 - Sep 20
Singapore
25 - Sep 27
Russian
9 - Oct 11
Japan
23 - Oct 25
United States of America
30 - Nov 1
Mexico
13 - Nov 15
Brazil
27 - Nov 29
United Arab Emirates
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
13 - Mar 15
Australia Albert Park
20 - Mar 22
3 - Apr 5
Viet Nam Hanoi Circuit
17 - Apr 19
1 - May 3
Netherlands Circuit Zandvoort
8 - May 10
21 - May 24
Monaco Monte Carlo
5 - Jun 7
Azerbaijan Baku City Circuit
12 - Jun 14
26 - Jun 28
France Paul Ricard
3 - Jul 5
Austria Red Bull Ring
17 - Jul 19
United Kingdom Silverstone
31 - Aug 2
Hungary Hungaroring
28 - Aug 30
4 - Sep 6
Italy Monza
18 - Sep 20
25 - Sep 27
Russian Sochi Autodrom
9 - Oct 11
23 - Oct 25
United States of America Circuit of the Americas
30 - Nov 1
13 - Nov 15
Brazil Interlagos
27 - Nov 29
United Arab Emirates Yas Marina Circuit
See full schedule
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