Formula 1, Silverstone reach five-year contract extension through 2024

Silverstone Circuit is set to remain on the Formula 1 schedule through the 2024 season after a five-year contract extension between Formula 1, the track and British Racing Drivers’ Club was reached.

Silverstone Circuit has hosted the British Grand Prix a total of 52 times since the inaugural Formula 1 season back in 1950. Additionally, it has hosted this race in each of the last 32 seasons going all the way back to 1987.

This track is scheduled to host the 10th race on the 21-race 2019 Formula 1 schedule this Sunday, July 14, the British Grand Prix.

But more importantly in terms of the long-term future of one of the most historic tracks on the Formula 1 calendar, Silverstone Circuit is set to return to the schedule in each season through at least the 2024 season.

Formula 1, Silverstone Circuit and the British Racing Drivers’ Club have reached a five-year contract extension to keep the annual British Grand Prix on the schedule at the track.

Formula 1 confirmed this news on Twitter.

https://twitter.com/F1/status/1148941944124522499?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

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There were doubts that the 18-turn, 3.661-mile (5.892-kilometer) Silverstone Circuit road course in Silverstone in part Northamptonshire and part Buckinghamshire in England, United Kingdom would return to the schedule beyond the conclusion of the 2019 season.

Silverstone Circuit was initially one of the few tracks on the 2019 schedule that did not have a contract for the 2020 season, but now those doubts are no more.

The announcement that Silverstone Circuit would return to the schedule after this season was made during a press conference at the track itself, and it was speculated that this press conference would focus on the future of the British Grand Prix at the track even before it took place.

Here is what Formula 1 chairman and CEO Chase Carey had to say about the matter during this press conference, according to Formula 1.

"“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.”"

Here is what Silverstone Circuits Limited managing director Stuart Pringle had to say about the matter, according to Formula 1.

"“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.”"

Here is what British Racing Drivers’ Club chairman John Grant had to say about the matter, according to Formula 1.

"“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.”"

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ESPN2 is set to broadcast this Sunday’s British Grand Prix live from Silverstone Circuit beginning at 9:10 a.m. ET, so be sure to tune in to the 2019 Formula 1 season’s 10th race.

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