CAN SILVERSTONE AFFORD F1S PRICE?
Ecclestone is believed to be asking 11m for the first year of the new contract, with a 5% year-on-year escalator – up from 7m for the first year of the previous contract, which was similarly index-linked. That is peanuts compared with what, say, China, pays him, but it is a considerable amount for what is essentially a private members’ club. The BRDC believes it has a duty to protect Silverstone for the nation. It recognises that it is important to hold a Grand Prix, but it is not prepared to bankrupt itself for one. The BRDC’s problem is that its ability to raise money out of the Grand Prix is limited to ticket sales – everything else, such as trackside advertising, is owned by F1 – and you can only charge so much for a ticket before people refuse to buy them. That explains why the BRDC has come up with an attempt to raise more money in its plans to redevelop the track. The plans include not only the new F1 facilities demanded by Ecclestone, such as a new pit and paddock complex, but
