There have been some rumours that the British Grand Prix, which is held every year at world-renown track, Silverstone, might be closed down in 2019. There have been reports that Formula 1 and Silverstone have been in talks regarding the future of the Grand Prix, and whether there is a chance that it will continue to be held annually.
Chairman of the British Racing Drivers’ Club, who owns the Silverstone track, has said in a letter that he is holding hope that a deal can be arranged between the two parties. He went on to say that as things currently are, there’s a good chance that the British Grand Prix won’t make it past 2019.
The main reason for its closing is because the contract for the Formula 1 being held at Silverstone is coming to an end next year, and that no further contract has yet to be agreed upon and signed.
Previously, the track had a contract that was liable to end in 2027, but a clause in the contract was utilized to end the event at Silverstone as it was becoming to expensive to host every year.
Liberty Media, who own Formula 1, have said that they intend to maintain the historic venues where races have traditionally been held, such as Silverstone, which they consider vital to the health and future of the sport, but it remains to be seen whether a new contract will be created in the next year.
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