Silverstone brainstorming on adding revenue streams - Warwick


BRDC president Derek Warwick says that he is confident in the long-term future of the British GP at Silverstone, but additional revenue streams associated with the showcase event must be considered.

Warwick believes there is a mutual interest for the BRDC and the Formula One Group in keeping Silverstone the home of the British GP, and both parties are willing to work together to make ends meet.

"We cannot carry on the way we are,” Warwick said.

"We have to look at different revenue streams, we have to look at a different contract to the one we have at the moment to extend beyond 2019.

"There will be a way because Liberty don’t want to lose Silverstone and the British GP and we don’t want to lose it, there has to be middle ground for all of us.

"If you have two willing partners there will be a way to move forward, we will find some common ground."

F1 CEO Carey has already warned that there will be no immediate changes to the commercial contract signed by Silverstone with Formula One Management.

Hence the need for the BRDC to increase revenue to reduce the burden of FOM's race fee estimated to be £17m.

"Under our current contract the only way we can make money out of a grand prix other than concerts is ticket sales.

"Chase is saying other circuits have slightly different contracts to ours so there are other opportunities we can use to increase our revenue.

"He is saying he is going to change the way we can earn more money from the grand prix. Maybe we can have more pitwalks, bigger concerts, more sponsorship – maybe we can name corners.

"We believe we will find a way now of going forward and carry our contract on. Because it's important to us, important to Liberty and it's important to the British fans. To not have a British Grand Prix is just unthinkable."

GALLERY: F1 drivers' wives and girlfriends

Keep up to date with all the F1 news via Facebook and Twitter