British Grand Prix secured on F1 calendar until 2034, aims for permanence
- Stefano Domenicali reiterated the importance of the British Grand Prix for Formula 1 ahead of his meeting with Sir Keir Starmer.
- The 10-year agreement guarantees Silverstone's position as a key venue until 2034, valued at £300 million.
- Domenicali concluded that Silverstone's unique characteristics ensure its place on the calendar for the foreseeable future.
In the United Kingdom, Formula One's chief executive, Stefano Domenicali, expressed his expectation for the British Grand Prix to be a permanent fixture on the F1 calendar. This declaration came ahead of a meeting with the Prime Minister, Sir Keir Starmer, and in light of a ten-year agreement reached between F1's owners, Liberty Media, and Silverstone, solidifying the circuit's position as a key venue until at least 2034. This significant partnership is reported to be worth approximately £300 million. Domenicali emphasized that Silverstone possesses unique characteristics that allow it to flourish as a major sporting event in the UK. During his discussions with Starmer, Domenicali aimed to address crucial issues surrounding the infrastructure needed for improved access to the Silverstone circuit. In addition, he planned to highlight the overall economic impact of the motor racing industry on the UK, which he noted is valued at around £12 billion annually. Furthermore, the employment statistics indicate that approximately 6,000 individuals are directly engaged within the UK Formula 1 ecosystem, with a majority of the teams based in the country. As F1 continues to evolve globally, Domenicali also raised concerns related to visa complications for overseas workers in the industry following Brexit. This issue adds another layer of complexity to the challenges faced by the motorsport sector in navigating post-Brexit changes that may affect its operational efficiency and talent mobility. The immediate focus, according to Domenicali, is on ensuring that issues within the motorsport branches must be resolved promptly, allowing the UK to host its significant events without hindrance. Looking ahead, Domenicali also has contingency plans in place regarding the final races of the season scheduled for Qatar and Abu Dhabi, particularly given the ongoing political tensions in the Middle East. He stated that while no immediate threats have been indicated regarding these events, F1 remains vigilant and responsive to any emerging concerns that could impact the race schedule, highlighting the need for preparation in the sport amid fluctuating geopolitical landscapes.