P1racenews AI automatic summary:
Why new British GP deal shows F1 and Silverstone need each other
“Despite the expansion of races and interest in new markets, Formula 1 recognizes the importance of maintaining traditional venues. Recent months have seen multiple venues sign long-term contracts, guaranteeing race slots until at least 2030. Melbourne leads the way with an end date set in 2037. These longer deals provide F1 with a steady flow of race-hosting fee income. However, the limited number of slots means some venues may miss out, as seen with Silverstone having a contract ending in 2024 and no guaranteed slot beyond this season. Silverstone, as the home race for many teams and with a 98% UK audience, holds a special place in the hierarchy of venues and is seen as a valuable asset to the championship. F1 recognizes the challenges of bringing in new promoters and values the experience and knowledge of established venues, as demonstrated by maintaining the future of Suzuka despite interest from a potential street race in Osaka.”
