Annual Formula 1 Hosting Cost at Silverstone

Silverstone will host the Formula 1 British Grand Prix until at least 2034, following a new 10-year agreement worth 30 million pounds, outbidding a potential London Grand Prix due to practicality issues.

Highlights

‣ Silverstone has secured its place on the Formula 1 grid until at least 2034 through a new, 10-year commitment, despite the high cost of 30 million pounds, which is 5 million pounds more than its current fee.

‣ Compared to the fees paid by Middle Eastern countries like Saudi Arabia and Qatar, which are around £70 million annually, Silverstone’s fee, although high, is relatively modest.

‣ The idea of a London Grand Prix was explored but found to be unfeasible due to the impracticality of closing one of the world’s busiest cities to regular traffic for an extended period.

‣ Despite its drawbacks, such as difficult accessibility, Silverstone is considered an integral part of Formula 1’s heritage, highlighting the sport’s value in traditional circuits alongside modern, expensive ones.


Oh boy, Silverstone’s sticking around in the Formula 1 world till at least 2034! Just this Thursday, the big guns at F1 and the track’s management team dropped the news. They’ve decided to extend their expiring handshake deal. And let me tell you, it wasn’t a bargain bin deal.

Turns out, the price tag’s a hefty 30 million pounds. That’s a whole 5 million more than what Silverstone was coughing up before. But hey, when you stack it against what the Middle East shells out for their Grands Prix, it’s almost like pocket change. I mean, Saudi Arabia and Qatar? They’re splurging a cool £70 million each year.

### London Grand Prix proved unfeasible

Now, here’s a twist. Silverstone was actually up against another contender for hosting the British Grand Prix. Yep, none other than London itself. F1’s head honcho, Stefano Domenicali, was pretty psyched about the idea of race cars zooming through central London. But, as it turns out, London wasn’t exactly slamming the door on the idea. It’s just… well, the logistics were a nightmare.

Imagine trying to shut down one of the busiest cities on the planet. We’re talking days, maybe weeks, with no regular traffic. That’s a hard pass. Sure, Silverstone’s not perfect—getting there can be a bit of a puzzle. But it’s got history. It’s like that old, comfy armchair of Formula 1. Despite the flak Domenicali and his crew get for chasing after shiny, new circuits, Silverstone remains their charming exception.

Albert Ramirez
Albert Ramirez
Albert Ramirez is a senior writer at F1Highlights.com. With a passion for motorsports, Albert brings a unique perspective to the world of Formula One. With over five years of experience as a sports reporter, he has honed his skills in capturing the essence of the sport.

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