F1 wants to keep the British Grand Prix secure

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.

• Silverstone 'doesn't have the luxury of time'

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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