Silverstone is "expected to trigger a break clause in its contract to hold the British Grand Prix due to escalating costs," according to Rebecca Clancy of the SUNDAY TIMES. Formula 1 Owner Liberty Media is "thought to be eager to keep the British Grand Prix on the calendar as it is one of the best attended races." If the break clause is triggered it will "enable Silverstone to renegotiate the contract" it signed in '10 to host the race. The Northamptonshire track is currently contracted to host the race until '27 but the deal, signed by former F1 CEO Bernie Ecclestone, sees the costs rising by 5% every year. The first year’s hosting fees were £12M but by '27 the cost will rise to an "unmanageable" £26M ($34M). Silverstone has until the first day of this year's grand prix -- which starts on July 14 -- to either trigger the break clause or "be stuck with the current deal." F1 CEO Chase Carey has "been vocal about his desire for more street circuits on the race calendar and has made noises about hosting one in London." However, it is understood that the city "does not want to host a race due to pollution" (LONDON TIMES, 7/2). In London, Jonathan McEvoy reported Silverstone will "gamble on renegotiating a new, improved deal in the next few years in an attempt to keep hold of the showpiece weekend." British Racing Drivers' Club Dir Philip Walker, who has been involved in talks with Liberty Media, said, "It is highly probable we will have to activate the break clause." BRDC Chair John Grant has been in contact with Carey since last December. A senior BRDC figure, who asked not to be named, said, "It has come too early for Liberty. They do not yet know which races they want to help keep on the calendar. For example, Chase has never been to a grand prix at Silverstone" (DAILY MAIL, 7/1).
