Menu
Events and Attractions

Future Of British Grand Prix In Doubt After Collapse Of Silverstone Deal

The British Grand Prix "is in need of saving" following Jaguar's failure to complete a £33M ($43.4M) deal with the British Racing Drivers Club for Silverstone, according to Christian Sylt for the London INDEPENDENT. F1 CEO Bernie Ecclestone "has revealed it needs a saviour following the collapse of a deal to sell Silverstone." The track has a contract to host the British GP until '26 "but a clause in the agreement allows Ecclestone to drop the track." Speaking ahead of Sunday’s Belgian Grand Prix, he said, "I don’t know what is going to happen there. Somebody is going to have to step in and save it." The British GP is F1's "best-attended race with 139,000 spectators packing the stands last month." Despite this success "it is the only of F1’s 21 races which gets no government funding and this has driven it into the red." Silverstone's plight "has led to it paying" the estimated £17.7M ($23.25M) British GP hosting fee in arrears and "this is what allows Ecclestone to terminate the contract." To "put the brakes on the losses permanently" the British Racing Drivers Club is "trying to sell a lease on Silverstone and in April announced that Jaguar wanted to buy it to use it as a high-speed test track." The deal was believed to be worth £33M and was endorsed by the BRDC board. However, it "now appears to have stalled" as it has come to light that Porsche, which runs a driving center at Silverstone, "has got a veto over rival car manufacturers using the track for more than 45 days per year" (INDEPENDENT, 8/27).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2016/08/29/Events-and-Attractions/British-GP.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2016/08/29/Events-and-Attractions/British-GP.aspx

CLOSE