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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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Formula 1 Calendar - 2021

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

Formula 1 Calendar - 2021

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