Silverstone was one of the traditional circuits to be part of the very first Formula 1 schedule in 1950.

So, you can imagine how much this race means for British fans as well as those from all over the world. Even so, there was a shocking announcement that Silverstone will activate their break clause inserted within the contract even though being one of the most attended events on the schedule.

What Happens After 2019?

According to the clause in the contract between Silverstone and Liberty Media, the commercial owners of F1, there is the possibility to activate the break clause. And that's exactly what Silverstone did after a total loss of over £7.6 million in 2015 and 2016 combined. But this isn't caused by lack of fans or interest in the sporting event. The primary cause for this situation comes from the original contract signed by Silverstone in 2009 with Bernie Ecclestone. In this contract there's a 5% yearly escalator that made it too much for even Silverstone to handle as of last year. The decision is final and, right now, the main hope of the fans as well as Silverstone officials is re-negotiating terms after the 2019 race and the start of 2020 season for a new arrangement.

How Are the Talks Going?

Well, ever since the announcement was made right before last year's race, discussion over the future were taken behind closed doors. Like in every other sports, we have some rumours that say the overall atmosphere from the talks are positive and recently we had some official statements in that direction.

F1 commercial chief Sean Bratches declared that Silverstone represents a part of the foundation for Formula 1, leading fans all over the world to believe that there's no way the circuit will be missing from the 2020 schedule. Continuing the statement, Bratches said that he represents a commercial business and doing a deal that makes sense for both parties is what they are looking for.

Renewal of Spa Brings Hope

The recent announcement that a renewed deal with Spa was made in advantageous conditions for both parties is a spark of hope for the British Formula 1 fans. Not giving away any details regarding how the negotiations go, the person in charge of commercial affairs in F1 said that he hopes that the same path will be followed for Silverstone. Of course, there are particularities from one circuit to another and things can get complicated very easy, however, there's hope for now.

F1 - a Priority for Silverstone

Not only that the ones in charge of Silverstone declared their intentions to remain in the prime-time of F1 for at least another decade but they are also planning on making some changes that will make Silverstone more attractive all-year-long. The managing director of the British racing circuit said that the door is 100% not shut and that ongoing talks are being held. Even so, until the contracts are not signed, nobody wants to make any predictions or promises that they cannot hold. It's a very complicated process and with huge amounts involved, things can change from one second to another.

Things are very tight in the drivers' championship right now with Sebastian Vettel leading with only 1 point ahead Lewis Hamilton on 2nd place with a total of 145 points accumulated so far. This means things will be very disputed next Sunday at Silverstone as the season is advances. Things are a bit more comfortable when looking at the constructor standings. Ferrari has the lead with a 10-point difference over Mercedes while Red Bull Racing is third, trailing 58 points behind Mercedes.

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