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Silverstone secures decade-long deal: British Grand Prix to thrill fans until 2034

Posted : 09 February 2024

In a significant development for Formula One enthusiasts, the British Grand Prix is set to have a stable home at Silverstone for the next decade, following the announcement of a renewed long-term deal on Thursday.


The five-year contract between Silverstone and Formula One's owners, Liberty Media, which was set to expire this year, has been extended until at least 2034. Amidst previous speculation about the Grand Prix's venue, the fresh agreement, reportedly valued at £30 million annually, secures the prestigious race at Silverstone.


Expressing his delight, F1 president Stefano Domenicali affirmed the continued presence of the British Grand Prix on the calendar, emphasizing Silverstone's iconic status in F1 history. As Silverstone approaches its ninth decade hosting Grands Prix, Domenicali praised the venue for attracting a global fanbase with thrilling on-track racing and an exceptional off-track fan experience.


The British Grand Prix holds a venerable position in F1, spanning over 70 years, with Silverstone hosting the inaugural world championship race in 1950. The event has consistently drawn massive crowds, exemplified by last year's record-breaking attendance of over 150,000 spectators witnessing Max Verstappen's victory.


Stuart Pringle, the chief executive of Silverstone, expressed satisfaction with the long-term commitment, highlighting the race's significance to Formula One and acknowledging Silverstone's capacity to deliver a world-class experience.


Liberty Media's decision to extend the Silverstone contract comes on the heels of recent confirmation of a new race in Madrid from 2026. Despite previous considerations for a London street race, various obstacles have hindered progress, solidifying Silverstone's standing as the host for the British Grand Prix.  The upcoming F1 season is set to kick off in Bahrain on March 2, with Silverstone once again welcoming the British Grand Prix on July 7.


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