Silverstone renews British GP contract quit threat

Warnings by Silverstone Circuit that it could not/would not afford the rising costs of Formula 1 were heard on a regular basis during the sport's Bernie Ecclestone management era, and it appears that little has changed in that regard under the administration of F1's new owners Liberty Media.

Silverstone has a contract to host the British Grand Prix until 2027, but the deal includes an escalation of the fee charged by F1 each year. Silverstone has the option of ending the contract early but would have to announce plans to do so before this year's race, set for July 16. It would then have to negotiate a new contract with Liberty Media for the British GP to continue at Silverstone beyond 2018.

Philip Walker, a director of the British Racing Drivers' Club (BRDC) that owns the circuit,  told the UK Mail on Sunday, "It is highly probable we will have to activate the break clause." Walker has been involved in discussions of the race contract with Liberty Media since the sport's new administrators took over last year.

F1 CEO Chase Carey told Britain's Sky Sports earlier this year that Liberty Media is committed to maintaining a British race, albeit not necessarily at Silverstone. However, F1's bargaining position is limited by the fact there are no other permanent racetracks in the country capable of hosting F1 without major infrastructure improvements that would face significant financial and planning permission hurdles. During his time at the helm of F1 management, though, Ecclestone dangled the prospect of a London F1 street race – and that prospect appears to be a little less fanciful following passage earlier this year of legislation to allow races on England's public roads.