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Ecclestone confirms threat to 2016 British GP
Bernie Ecclestone has confirmed that Silverstone could be missing from the 2016 calendar. It was revealed yesterday that the future of the British Grand Prix is under threat as the Northamptonshire circuit struggles to meet the financial terms of its contract. Due to a number of disastrous business moves, the cost of upgrading the circuit and a clause which hikes the hosting fee by 5% each year, currently the circuit is paying said hosting fee a year in arrears. Formula One Management is happy to allow this to continue as long as the circuit is able to provide a letter of credit from its bankers guaranteeing that the money will be there for the following year. Unfortunately such is the...
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10y ago from Pitpass.com
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