Chase Carey, the new Chairman and CEO of Formula One has confirmed that Liberty Media want to preserve the old existing Grand Prix circuits like Silverstone, Spa Francorchamps and Monza.

Mr Carey has said that he will hold talks with Silverstone in the coming weeks to discuss the circuit but has reassured fans that the British Grand Prix will remain on the Formula One calendar for years to come.

The future of the British Grand Prix was thrown up in the air in recent weeks with reports emerging that Silverstone were set to activate a get out clause in their contract to host the race, however the organisers of the Grand Prix have allayed fears that the race is under threat.

Liberty Media want to expand the sport and Mr Carey said that one of the reasons for Mr Ecclestone’s exit was due to his short term vision for the sport and his failure to grow it over the past five years.

Formula One’s new owners also want to expand the sport in the United States with Mr Carey in talks with Las Vegas, New York and Miami about hosting races there.

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