John Grant, the chairman of the British Racing Drivers’ Club, believes Liberty Media could take a keen interest into securing the future of the British GP at Silverstone.
In a recent letter to BRDC members, which was leaked to the press, Grant said the Club-owned Northamptonshire venue could activate a break clause in its current F1 contract in order to exit its deal with Ecclestone's FOM because of spiraling costs associated with the popular event.
Under the current deal, which runs until 2026, Silverstone’s Formula 1 fee rises by five percent every year, from £12m in 2010 to £26m by the end of the agreement.
Speaking to Autosport, Grant explains how Liberty Media, which is currently in the process of a takeover of F1, could help.
“A few things are going in our favour," he said. “The impending change of F1 ownership should be helpful medium-term. Liberty seems genuinely sympathetic to our point of view.
“We need a rebalancing of the economic equation. We're exploring lots of ways and talking to a number of parties.”
Former BRDC president and 1996 F1 world champion Damon Hill has advocated for government involvement to ease the BRDC's financial burden but Grant is not sure politicians would accept to bankroll the event.
“There are compelling arguments for public money to be used, but we understand F1 is seen as a rich sport,” he added.
“I don't think a cash handout would be politically possible, but some other form of public support may be.”
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