Silverstone is set to drop the British Grand Prix as the event is now considered “unaffordable'” for the BRDC, according to F1 business journalist Christian Sylt.
In an article in The Sun, the reporter quotes a senior source close to the British track saying the pull-out will happen.
The case for Silverstone dropping the showcase event gained momentum in the past weeks with BRDC chairman John Grant sending a letter to the institution’s members revealing that it was considering pulling out of its contract with Bernie Ecclestone’s FOM, and whether it should give notice by the 2017 British GP.
“They will definitely drop the Grand pPix and see what is going to happen over the next two years,” F1 business journalist Christian Sylt quoted the source as saying.
“It’s a two-year notice period,” the BRDC member is quoted by The Sun newspaper. “There is no question about it because it is not affordable.”
- Silverstone in talks with government to secure British GP future
The race is guaranteed to take place at Silverstone until the end of 2019 as the BRDC can only give notice of its intention to drop the event this year at the earliest.
On the surface, the delay would appear to offer ample time to find a new home for the British GP.
Click Here: Atlanta United FC Jersey
Indeed, Bernie Eccestone claims to have two other potential locations lined up but several alternative venues have also declared their lack of interest in hosting the event.
Many believe the most likely alternative remains Donington which was acquired last week by Brands Hatch owner Jonathan Palmer whose Motorsport Vision company has also offered to buy Silverstone.
GALLERY: F1 drivers’ wives and girlfriends
Keep up to date with all the F1 news via Facebook and Twitter