Silverstone has announced it will remain home of the British Grand Prix until 2034 after signing a new contract with Formula 1.
It was announced on Thursday afternoon.
The track, which hosted F1’s first-ever Grand Prix in 1950, will remain on the calendar for at least 10 more years.
“I am delighted we have secured a 10-year extension to host the Formula 1 British Grand Prix at Silverstone,” said Chairman of the British Racing Drivers’ Club (BRDC), Peter Digby.
“This contractual security will provide a solid base for the further development of the venue as we continue to improve and transform the circuit into a year round international motorsport and leisure destination.”
Additionally, Digby highlighted the importance of the race, since “the 2024 Formula 1 season will start with nine BRDC Full and Honorary members on the grid and the importance of our continued support of young drivers is particularly evidenced by the success of Lewis [Hamilton], Lando [Norris], George [Russell] and Alex [Albon].”
The statement from Silverstone and F1 also gave importance to the ‘significant contributions’ of the sport to the UK economy, “creating thousands of jobs and boosting the country’s manufacturing industry through pioneering research and development projects.”
F1 CEO Stefano Domenicali said he’s “delighted that the British Grand Prix will remain on the calendar for ten more years” with the new agreement.
“Silverstone is an iconic venue at the heart of F1 history and as it approaches its ninth decade hosting Grands Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it.”
This year’s British Grand Prix will take place on July 5-7.