The Formula One British Grand Prix will remain at the Silverstone circuit for the next five years after it was announced on Wednesday that an agreement has been made between the BRDC and Formula One to keep the sport at the Northamptonshire facility.

The announcement comes after months of uncertainty and the news means that fans of the sport can be rest assured that the British Grand Prix’s future has been secured.

Speaking about the announcement, Formula One Chairman and CEO Chase Carey said:

We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 World Championship calendar for at least the next five years, with the event remaining at its longstanding home, Silverstone circuit.

“We have always said that, if it is to have a long-term future, our sport must preserve its historic venues and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950. Today, Formula 1 is a global sport, held on five continents, watched by an audience of over 500 million fans around the world and our aim is to grow this number by bringing the sport we love to new countries, while also maintaining its roots: Silverstone and the British Grand Prix are an integral part of that vision.

Chairman of the BRDC, John Grant commented on the news saying:

Silverstone is one of the most iconic Grands Prix on the F1 calendar and with such a rich heritage it would have been disastrous for the sport and fans had we not managed to find a way forward.

“2020 will be the 70th anniversary of the first round of the World Championship which took place at Silverstone on 13th May 1950 and will make next year’s event all the more special. This is great news for the BRDC, Silverstone and Formula 1 – and for millions of British motor racing fans.

Managing Director of the Silverstone circuit, Stuart Pringle said:

The British Grand Prix at Silverstone is rightly recognised as one of the highlights of both the F1 championship and the annual British sporting calendar..

“This is thanks to our track being one of the greatest drivers’ circuits in the world but also the enormous passion for motor racing that exists in the loyal and knowledgeable fans that we have in this country. The prospect of not hosting a Grand Prix at Silverstone would have been devastating for everyone in the sport and I am delighted that we are here today, on the eve of what is sure to be a fantastic event, making this positive announcement about the future.

The British Grand Prix takes place this weekend and is live on both Sky Sports F1HD and Channel 4.

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