The deal is reportedly worth around £300 million, or £30 million per year. The Grand Prix of 2023 drew a record-breaking crowd of over 150,000, with nearly half a million spectators attending throughout the weekend.
The Debut of Silverstone
Introducing, the 2024 #BritishGP trophy 🤯
— Silverstone (@SilverstoneUK) July 2, 2024
Discover how an #F1 Trophy is made from first drawings to final touches in our documentary, by tapping the video below!
And don’t worry, the RAC trophy isn’t going anywhere 😉
The British Grand Prix has marked its place in the F1 calendar for the past 70 years, even hosting the first world championship race of the sport, won by Giuseppe ‘Nino’ Farina in an Alfa Romeo in 1950. Silverstone has held all but 17 of the British Grand Prix there and is one of the fastest circuits of the season.
Moreover, 12 British drivers have won races on their home soil, mostly in Silverstone, making it an iconic part of F1 history.
Renewal of History: The British Grand Prix
Initially, people thought Silverstone’s contract with F1’s American owners, Liberty Media, would be renewed for only five years. However, the announcement pleasantly surprised everyone, revealing that Silverstone would remain one of the F1 crown jewels for an additional 10 years.
According to the Guardian, the F1 president and CEO, Stefano Domenicali, said:
“I am delighted to announce that the British Grand Prix will remain on the calendar for 10 more years with this agreement. Silverstone is an iconic venue at the heart of F1 history, and as it approaches its ninth decade hosting Grand Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it.”
To which Silverstone chief executive Stuart Pringle added:
“This long-term commitment reflects the importance of the British Grand Prix to Formula 1 and their acknowledgement of our ability to deliver a world-class experience. The cheers of support for the home teams, and particularly for the British drivers on the grid, make the Silverstone atmosphere unique.”
However, Silverstone is much more than a historic circuit; it has diversified into various new means to expand its horizons and achieve the title of “global home of motor racing,” according to Pringle, by the next 10 years.
Meet the home heroes 🇬🇧#F1 #BritishGP pic.twitter.com/vO63zQQMbe
— Silverstone (@SilverstoneUK) July 4, 2024
Here are the ways Silverstone has grown from its once struggling financial condition to flourishing into one of the most iconic circuits, even off track.
- In 2011, the Wing, a new pit-and-paddock complex with conference and meeting facilities, opened.
- In 2019, an interactive museum was introduced.
- In 2023, a hotel overlooking the start-finish straight welcomed its first visitors.
- In 2024, 60 luxury private trackside residences will be available to book.
- Plans are underway to build an international-standard go-kart track.
How expensive are the tickets to the 2024 British Grand Prix?
With the fresh amenities of the circuit, the race is one of the most expensive of the season.
General admission tickets for two adults and two children over 11 years old cost £1,716, or about $2,160. Tickets for just Sunday’s Grand Prix cost about $1,550. Moreover, 7-time British world champion Lewis Hamilton even commented: “Watch the ticket prices, as they’re continuing to rise.”
Pringle acknowledged the high prices but emphasised that racing is just one aspect of the weekend. Silverstone will also host a music festival over the four days, featuring performances by Kings of Leon, Stormzy, Pete Tong, and Rudimental. Additionally, a comedy club will feature acts by Russell Kane, Troy Hawke, and Al Murray.
Rohit Kumar