Liberty Media and Silverstone reach agreement (Update)

Silverstone

UPDATE (GMM) Silverstone looks set to secure its place on the F1 calendar.

Currently, the future of the British grand prix is in doubt, after organizers terminated a contract that it said was financially untenable.

But Auto Motor und Sport claims that the organizers now look set to ink a new deal with Liberty Media in the month of May.

Part of that deal will reportedly involve 70th anniversary celebrations, which look set to be more elaborate than what is planned for next week's Chinese GP.

Liberty has been counting down to F1's 1000th race, but Auto Motor und Sport says customs regulations mean only one historic car – a Lotus 49 to be driven by Damon Hill – will be in Shanghai for the event.

"Plans to bring Mercedes, Ferrari, McLaren, Williams and Tyrrell cars failed," revealed correspondent Michael Schmidt.

04/04/19 The British Grand Prix is set to remain at Silverstone on the Formula 1 calendar beyond this year, it has been reported. Auto Motor und Sport reports that a breakthrough has been made between Liberty media and Silverstone's owners the British Racing Drivers' Club (BRDC).

Silverstone's F1 future was plunged into doubt in 2017 when the BRDC enacted a break clause in its contract with the series, citing rising losses brought about by escalating hosting fees inserted into the deal signed by previous F1 owner Bernie Ecclestone.

Similar losses have also seen other historic venues like Monza, Hockenheim and Mexico City come under threat, while the Nurburgring has not featured on the F1 calendar since 2014 over financial concerns.

With Liberty having confirmed the introduction of a Vietnam GP in 2020 and the continued attempts to add another street race in Miami, concerns had been raised that more traditional venues would be lost to make way for the new.

However, speaking ahead of the Bahrain GP last week, F1 managing director Ross Brawn told Sky Sports: "Despite the pessimism, I'd be surprised if we lose any of the races we have."

And Auto Motor und Sport has reported that a new deal between F1 and Silverstone could be signed in May, ahead of the race's staging in July.

The German publication also suggests that the 2020 British GP could play host to a sizable celebration of F1's history, as it will represent the 70th anniversary of F1's maiden race – also held at Silverstone.