Contractual security will provide a solid base for the further development of the venue, says owner BRDC, as Silverstone secures F1’s British Grand Prix until 2034

THE DECISION to keep the British Grand Prix at Silverstone for a further ten years has been welcomed by West Northamptonshire Council leaders.

The announcement yesterday (Thursday) strengthens West Northants as a destination of sporting and cultural excellence, the council says.

Cllr Daniel Lister, cabinet member for economic development, town centre regeneration and growth, said: “This is fantastic news and we are delighted that the prominent world-renowned British Grand Prix will continue to be held in West Northamptonshire.

“The event attracts hundreds of thousands of people each year and hugely benefits our tourism and visitor economy while showcasing West Northants to a global audience.”

The council’s Economic Growth & Inward Investment team will be working closely with Silverstone. “Attracting more visitors to West Northamptonshire, increasing footfall and spend is a top priority,” Cllr Lister pictured left said. “We look forward to continuing our close working relationship over the next decade and beyond.”

The Formula 1 Qatar Airways British Grand Prix 2024 will take place over the July 4-7 weekend.

Silverstone Circuit’s chief executive Stuart Pringle said: “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 for the British fans who are among the most enthusiastic and knowledgeable in the world.

“The cheers of support for the home teams, and particularly for the British drivers on the grid, makes the Silverstone atmosphere unique and I am looking forward to harnessing this passion for our sport and taking the event to the next level in the coming decade.”

The British Grand Prix has become one of the largest attended events on the F1 calendar. Last year’s event attracted some of the biggest names in sport, music and culture as the race drew in a record crowd of 480,000 across the weekend with over 60,000 fans camping in the local area.

This year, fans will enjoy a weekend filled with great racing as well as off-track entertainment including concerts every evening on Silverstone’s main stage headlined by music’s biggest artists, including Stormzy and Kings of Leon.

Peter Digby, chairman of the British Racing Drivers’ Club, said: “I am delighted we have secured a ten-year extension to host the Formula 1 British Grand Prix at Silverstone. This contractual security will provide a solid base for the further development of the venue as we continue to improve and transform the circuit into a year-round international motorsport and leisure destination.”

The 3.6 mile (5.8km), 18-corner Silverstone circuit has been revered by drivers through the ages. 74 years on from Giuseppe Farina’s first victory, a roll call of Formula 1 royalty have taken the chequered flag including Alberto Ascari, Sir Stirling Moss OBE, Juan Manuel Fangio, Jim Clark OBE, Jack Brabham AO OBE, Sir Jackie Stewart OBE, Niki Lauda, Alain Prost, Michael Schumacher, and Sir Lewis Hamilton MBE, who has a record eight victories.

Three other members of the 2024 grid have claimed victory around the famous circuit including two-time winners Max Verstappen and Fernando Alonso, and Carlos Sainz who took his maiden victory there in 2022.

Great Britain has always played a pivotal role in Formula 1 and today it is home to seven teams competing in the World Championship, many located just a few miles from the circuit.

Throughout its history, F1 has contributed significantly to the UK economy, creating thousands of jobs and boosting the country’s manufacturing industry through pioneering research and development projects.

F1 also works closely with UK universities and schools to drive interest in STEM subjects, fully funding full-time university scholarships at five universities, running STEM skills workshops across the country and hosting career insight days for school students.

Stefano Domenicali, president and chief executive of Formula 1, is delighted at the ten-year agreement. “Silverstone is an iconic venue at the heart of F1 history and, as it approaches its ninth decade hosting Grands Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it,” he said.

“I would like to thank Stuart Pringle and the Silverstone team for their hard work and dedication to take the British Grand Prix to new heights and I look forward to working closely with them as they look to further improve the facilities and fan experience over the next ten years.”