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F1 wants to keep the British Grand Prix secure

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Formula 1's commercial manager Sean Bratches is hoping to secure "a long partnership" with Silverstone, the home of the British Grand Prix.

The event's promoter, the BRDC, currently holds the rights to the event following a 17-year contract which was initiated in 2010.

But rising costs and an escalating race fee have enticed the BRDC to perhaps activate a break clause before the term of its contract in 2026.

The venerable institution forked out £12M at the inception of the contract but an annual rising fee clause will  inflate that number to approximately $26M by 2026.

It is believed the BRDC could activate its break clause and attempt to negotiate  a fresh deal with The Formula One Group.

"We have an agreement firmly through 2019," said Bratches.

"Our view of the world going forward as relates to our promoters is our ability to inject enthusiasm in the sport and activate that in many ways.

"We really want to put the spectacular back into the spectacle. We're going to continue to move in that direction and put our energy into creating value for our promoters and we're looking forward to working with them to that end.

Bratches reiterated F1's desire to help Silverstone secure its spot on the calendar for the long term.

"Silverstone plays an obvious role in the history of this sport and our objective is to create an environment which makes a strong business case for everyone.

"It's early in the game, we're working closely with them and we're hoping for a long partnership with our friends at Silverstone."

 

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.

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