F1 News, Reports and Race Results

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

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.

Recent Posts

Leclerc confident Ferrari ‘has a shot’ at F1 Constructors’ title

Charles Leclerc believes that Ferrari has a genuine “shot” at beating rival McLaren to Formula…

45 mins ago

Komatsu: F1 teams united against Audi 2026 cost-cap offset

Haas team principal Ayao Komatsu has revealed that nine Formula 1 teams stand in opposition…

2 hours ago

Las Vegas GP: Hamilton leads Mercedes 1-2 in trouble-free FP1

Lewis Hamilton and George Russell led the field in a chilly but trouble-free first practice…

3 hours ago

2024 Las Vegas Grand Prix Free Practice 1 - Results

Full results from Free Practice 1 for the Las Vegas Grand Prix in the United…

3 hours ago

Aston Martin says performance shortfall led to Fallows exit

Aston Martin performance director Tom McCullough has shed some light on why the team’s former…

12 hours ago

FIA clamps down on plank loophole after Red Bull complaint

The FIA has issued a pivotal Technical Directive to F1 teams ahead of this weekend’s…

14 hours ago