Silverstone F1 race in jeopardy?

The Formula 1 world has been paying very little attention in recent weeks to its normal goings-on, with FIA President Max Mosley hogging the limelight. However, we are hearing disquieting stories from Northamptonshire, where the British Grand Prix is facing a troubled future. At the moment the British Racing Drivers' Club (BRDC) has a deal that will keep the race at the Silverstone circuit only until 2009.

We are hearing that Formula One Management has offered the BRDC a new contract for the years 2010 to 2014. There are, however, a number of commitments needed from the club in order for this deal to be secured. These include the promise that Silverstone will have new facilities by the time the new deal begins. The financial details of the offer are not clear, but we are hearing that these are well in excess of the $15m that the club is currently paying for the right to host the race. Insiders say that the deal on offer is on a par with the deal that was signed with Germany. This is believed to be around $22m, although most of the FOM contracts these days include an annual price increase of 10%, which means that by the end of a five-year deal a promoter would be paying $32m a year. This would mean an overall commitment over five years of something in the region of $130m. More at Grandprix.com