All About The Money

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Silverstone is hosting the next Grand Prix race on the 14 th July and it could be the last. I honestly doubt it mind you and see it as a way of negotiating a better contract. Each circuit that hosts the Grand Prix's around the world has to pay a fee and Silverstone has to pay 20 Million Pounds this year for the 3 day event. It increases slightly each year and they are trying to stop it going up anymore. This has been discussed for three years already so it's not new and if nothing has happened then someone knows something.

The circuit expects to have in excess of 310 000 spectators and when you consider the cheapest ticket is 75 Pounds and it rises quite sharply after that and a decent seat will set you back in the region of 350 for the Sunday race. Those tickets have already sold out and not surprisingly as what is the point of watching a race if you can't see the victory flag and are sitting on the other side of the track.

It is no secret that the F 1 body wants to have a street circuit race in London as it would be higher profile creating more publicity for the sport. London is a nightmare for traffic anyway so can you imagine closing down the circuit for 7 days or so as they will need to prepare the track and set up safety measures etc.

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This is all about finances and London would generate more income than a race in the middle of nowhere. I went one year when we were sponsoring the Williams team and it was a nightmare form a muddy car park with no thought that it could rain and we all know that grass and cars aren't a good mix. The whole day was shambolic and vowed to never return and I had free tickets.

Silverstone wants to pay less for hosting the race and that is what the whole story in a teacup is about. They want more profits like any business would and I think they are shooting themselves in the foot. They must be raking in close to 20 Million profit for themselves and are just kidding everyone that they may break even. They have plans to put a hotel somewhere on the finishing straight so they can't be too short of money.

Think of the hospitality packages,the parking fees,food and drink and all the merchandise that is sold. They get a huge chunk of all the sales across the board and you would have to be very simple to not make a profit. I for one hope they lose it and it goes to London as it will make for a different experience and one I would want to watch. Maybe next year they will have two one in Silverstone and one in London and then choose from there as that is what I would do. My gut tells me the F1 body will go with London as a new race venue anyway and keep Silverstone. Would be great if they had a new street race each year in different venues like Paris, Moscow or even New York.