British Racing Drivers Club pulled out of hosting agreement beyond 2019, plunging the future of the race into doubt
SILVERSTONE chief Derek Warwick revealed the decision to pull out of hosting the British Grand Prix after 2019 was made three months ago.
The future of the race was plunged into doubt when the British Racing Drivers Club triggered a break clause from their contract on Tuesday due to cost of staging the race.
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President Warwick said F1 bosses Liberty knew all along that Silverstone would pull the plug this week – but was hopeful a deal could be reached to carry on hosting from 2020.
He said: “Liberty knew all along – we told them three months ago we were going to do it this week.
“The timing took care of itself, we had to do it by midnight Thursday night so we decided to do it on Tuesday.”
The track lost £4.8m in staging the race last year, up from £2.8m in 2015 with increased hosting fees a major factor.
Warwick said: “How can there not be a British GP at Silverstone? How can you let 120,000 fans down?”
“I’m sure there will be a way we can sign a new contract.
“We will sit down with Liberty at the end of the year when everything has calmed down.
“They have to experience the British GP and this is the first time they’ve visited it as owners of F1. Id’ like to think they’ll be super impressed with it.”
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