2010 British Grand Prix deal done (updated)

Alan Henry claims on the Guardian’s website that the British Grand Prix will be on the 2010 F1 calendar and stay there until 2014.

The story claims a five-year deal with Silverstone to host the British Grand Prix has been struck and will be announced tomorrow. That would coincide with the race-holding British Racing Drivers’ Club’s annual awards ceremony.

The deal is reported to be worth ??14m for next year’s race, with costs rising 7% per year. That is an entirely different deal to the one originally offered, of a 17-year deal with a 7% escalator starting at ??12m.

The total value of the 17-race deal was over ??370m, or ??21.77m per race. This deal would work out at ??80.5m over five years, or ??16.1m per race.

If the details are accurate, Silverstone has agreed to pay more for the next five races than it would have paid under the original offer, but without being shackled to another 12 years’ payments.

The Canadian Grand Prix recently returned to the F1 calendar on a five-year deal worth $75m (Canadian), roughly ??43m, which was CAN$100m less than Ecclestone originally wanted.

Ecclestone’s latest deadline for Silverstone to agree a deal is Friday 11th December.

Update: The BRDC claims it has signed a 17-year deal to host the British Grand Prix at Silverstone from 2010. Press release below.

Silverstone and the BRDC announce 17 year Formula 1 British Grand Prix deal.pdf

Read more: 2010 F1 calendar

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34 comments on 2010 British Grand Prix deal done (updated)

  1. Yay! That’s great news if it’s right and Henry was right bout Button. Bring on a British grand prix with two British world champions in a British team! :-)

  2. matt90 said on 7th December 2009, 0:01

    Glad to see both races back, but how come Canada pays so much less?

  3. Hammad said on 7th December 2009, 0:40

    Because we’re special :P.

  4. Canada pays less because Ecclestone knows it will be an exciting race which people will watch. The same can’t be said of Silverstone, which is easily one of the dullest tracks still on the calendar.

  5. Shagrathian said on 7th December 2009, 0:50

    Yay! It’s gonna be fantastic with the Jense-Lewis pair.

  6. wasiF1 said on 7th December 2009, 1:39

    Great news but if they have a contract for five years then what about all the investment Donnington made over the years will go no where.
    I hope next season we have the French GP back on the calender then we will have 20 races.

  7. Canada pays less in a fixed fee but gives FOM 30% of the gate receipts, a considerable amount as it is always well-attended, like Silverstone.

  8. Silverstone, Magny Cours, Montreal, luxemborg and Imola are some of tracks that generates great racing along with Monza, Spa, Brazil, Monaco.

    Good to see at least British and Canadian GP back.

    Wondering when would the US see light at the end of the tunnel. Looks like Bernie and car manufacturers have no clue of the potential of this country.

    • The manufacturers want a USGP as soon as possible. However, because of the reduced profile of F1 in the US, Bernie’s business model won’t work with a US Grand Prix. He’ll either have to give an American race promoter a significant discount (which won’t sit too well with promoters in other countries) or have a venue purpose-built (and who has the money lying around for that at the moment?) Bernie will hope that the USF1 team will raise the sport’s profile in the States to the point where promoters are falling over themselves to have a Grand Prix. I don’t see that happening, personally, nothing against USF1 but NASCAR is just too strong for any other series (even Indy) to make a significant impact.

      • I believe there are many potential promoters who would love to stage an F1 Grand Prix here in the USA. However, with Bernie’s outrageous prices, plus his past history of being quite rude to America in general, few of them want the trouble that goes along with a Grand Prix date. Yes, F1 is prestigious, but there are literally hundreds of other entertainment options here for promoters to work with if they want to make money and draw a crowd. Bernie needs to realize that his show is not the only one in town when he sets down in the USA, and when that happens we’ll be back on the road to a USGP.

        And you can forget about federal or state funds being used- perhaps that model works North of the border, but I would have a fit if any of my hard-earned tax dollars went into the coffers of CVC and FOM. On that note, credit for Silverstone apparently getting the job done without federal funds being used :)

    • HounslowBusGarage said on 7th December 2009, 13:18

      Luxemborg?
      Would you explain, please.

  9. The report in the Times says the deal is for the full 17 years but with a “mutual break” clause at 10 years. And that the escalator has been cut to 5%.

    http://www.timesonline.co.uk/tol/sport/formula_1/article6946697.ece

  10. Good news. I wonder how much of this will be pushed onto the fans to recoup their costs…

  11. Woffin said on 7th December 2009, 11:21

    Any ideas when tickets will go on sale? I promised my girlfriend I would take her last year but she had a uni exam on the same day. I need a sunday pit straight a or pit straight b ticket for this year’s race otherwise I’m dead haha!

  12. Looks like it’s a deal then as it’s being reported everywhere.
    Some reports say they will be using the “Arena” circuit, which cuts out Bridge.
    I found details of the new layouts at Lotus Central.

    http://www.lotus-central.com/index.php/en/news/293-silverstone-new-and-improved-for-2010.html

    • Ned Flanders said on 7th December 2009, 12:21

      Good spot. It’s changed since I last saw the layout, but it looks better, the right and left handers where the Abbey chicane usually should be interesting, I hope they’re as fast as they look

  13. I glad the future of the British Grand Prix seems to be sorted now, I just hope the BDRC and Silverstone can make the deal work financially and not end up in trouble a few years down the line.

  14. HounslowBusGarage said on 7th December 2009, 13:22

    According to the BBC

    The modernisation of the facilities at Silverstone, which first staged the British Grand Prix in 1948, will focus on rebuilding the pits and paddock – with work set to start as soon as possible after Christmas.

    So no improvements for the spectators, then?

    • Besides screwing everyone for the most money he can get. All Bernie wants is the bling factor and a fancy place to park his motor home.
      Good facilities and comfortable stands are a long way down his requirements list.

  15. theRoswellite said on 7th December 2009, 21:05

    …from across the pond….

    Thank God (or in this case perhaps one BE, in F1 they often seem to be the same thing) Sil’vustun is still with us…one travesty averted.

    However, speaking of travesties…

    I would think that as long as the present Ecclestonian economic model continues to strangle private sector involvement in the staging of F1 races you will find the USA a nonparticipant.

    Also,it seems ironic that France, the home of the FIA (the body which granted the commercial rights to BE ,and the following entanglements) should be without a GP.

    Oh well, perhaps F1 will persevere even beyond…old what’s his name….

    Hope all you good Brits can afford to attend this years British Grand Prix.

    • The Limit said on 8th December 2009, 17:25

      Last year’s Daytona 500 set me back $300US, $100 for a seat and $200 to get in the infield. I hope y’all Yanks can afford that too, ‘cos it ain’t cheap neither!

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