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Silverstone secures Grand Prix in 17 year deal

Formula One bosses have confirmed today that the British Grand Prix will take place at Silverstone next year. An announcement, bringing an end to 18 months of speculation, was made this morning, after the circuit and Bernie Ecclestone finally reached a long-term 17 year agreement.

It ensures the oldest race on the F1 calendar retains its place in motor

Silverstone able to step into the breach following Donington Park's failure to meet its obligations.

Silverstone managing director Richard Phillips said: "We've always had five-year deals and never been able to get the investment we needed to redevelop.

"But 17 years gives us the ability to invest and move forward.

"We've always had the belief the British Grand Prix was an important cornerstone of Formula One but, with Bernie, you're never quite sure.

"At the end of the day, though, you have to have a British Grand Prix.

"We've now got to sell a lot of tickets, to get out there and do similar sorts of numbers as we did this year when we had 230,000 people there over the three days, and promote the event."

David Wright, chief executive of Northamptonshire Enterprise Limited (NEL), said he was delighted by the news.

 “We’re delighted about the recent announcement from the FIA that the Formula One British Grand Prix will stay at Silverstone for the next 17 years.

“This is not only fantastic news for Silverstone but for Northamptonshire as well and for all those employed in the high performance engineering and motorsport industry based in the county.

“Northamptonshire is the home of British motorsport, of which Silverstone plays a vital role. The Northamptonshire circuit has successfully hosted the British Grand Prix since the first event in 1950, bringing £54million into the British economy every year, 94% of which is spent within a 60 mile radius of Silverstone.

“The decision to keep the British Grand Prix at Silverstone pays testament to the hard work put into developing the circuit to the world class facility it is today. Great credit must also be given to county partners and all those involved in making sure the British Grand Prix weekend runs so smoothly. NEL will continue to work closely with Silverstone to preserve its position within Northamptonshire as a world-renowned motorsport venue.”

Cllr Jim Harker, Leader of Northamptonshire County Council, said: “Securing the British Grand Prix at Silverstone is excellent news for the county and I’m absolutely delighted with this decision.  The county council has been working closely with Silverstone and I’m very pleased that this work has been such a success, long may it continue.
 
“Having such a high profile event in Northamptonshire is great for motorsport, great for county people and fantastic for the local economy, bringing benefits all round.
 
“Northamptonshire is increasingly being recognised as the home of British motorsport and the recent success from the Brawn GP team shows that we are continually achieving highly in this area, with numerous automotive industry companies basing themselves here and a local skills base second to none.
 
“There’s no doubt that Silverstone is an excellent, world-class venue and the Grand Prix belongs here.  The county council looks forward to playing a part in furthering its future success and growth”