F1 chiefs hit back at 'posturing' Silverstone over British GP break clause

Formula 1 chiefs have reacted angrily to news that the British Racing Drivers Club have triggered the break clause in the contract for hosting the British Grand Prix in the week leading up to the 2017 race.

The BRDC says the event is not financially viable and so under the current terms of the contract, the 2019 race will be the last.

But the F1 Group has hit out at the decision to trigger the clause in the same week as the race - and just a day before a special F1 event in London on Wednesday designed to celebrate the history of British involvement in the sport.

"The week leading up to the British Grand Prix should be a week of great celebration for F1 and Silverstone," said a statement.

New F1 boss Chase Carey (R) has a job on his hands if he wants to keep a British GP

New F1 boss Chase Carey (R) has a job on his hands if he wants to keep a British GP

"We deeply regret that Silverstone has chosen instead to use this week to posture and position themselves and invoke a break clause that will take effect in three years' time."

Under the terms of the contract the BRDC had to trigger the clause before this Friday, but the F1 Group revealed it had offered to extend the deadline in an effort to solve the problems.

"We offered to extend the current deadlines in order to focus on everything that is great about Silverstone and Formula 1," the statement said.

"Regretfully the Silverstone management has chosen to look for a short-term advantage to benefit their position."

But despite this move, the F1 Group says it still hopes to save the race.

"Our focus is still to preserve the British Grand Prix. We will carry on negotiating with the promoter in good faith and in private to reach a fair and equitable solution."

Will 2019 really be the last British GP at Silverstone?

Will 2019 really be the last British GP at Silverstone?

Earlier on Tuesday, the Chairman of the British Racing Drivers’ Club, John Grant said: “This decision has been taken because it is not financially viable for us to deliver the British Grand Prix under the terms of our current contract.

"We sustained losses of £2.8m in 2015 and £4.8m in 2016, and we expect to lose a similar amount this year."

"There is an escalator fee of 5% per year that the British Grand Prix chiefs have to pay, which in 2010 was £11.5 million, but in 2026 it would be £25 million.

“However, I want to be clear that although we have now activated the break clause, we are fully supportive of the changes the Liberty team are making to improve the F1 experience."

"Our hope is that an agreement can still be reached, so that we can ensure a sustainable and financially viable future for the British Grand Prix at Silverstone for many years to come.”