F1 News
Silverstone paid the Formula 1 in March 2020 for the GP of 2019
- GPblog.com
The organizers of the British Grand Prix appear to be in need of money. According to Forbes, the organizer only fully paid off the fee to organize the 2019 race two months ago. While it is normal to pay everything to FOM in advance, the Silverstone circuit took until March 2020 to pay off all debts for 2019.
The circuit built a new pit building and paddock in 2011, which already resulted in some debts. In 2013, the circuit had to sell land to be able to pay these debts. The debts for the circuit never really left, so the circuit was allowed to repay the amount to organize the race to FOM in installments.
By repaying tickets everything ready?
A couple of weeks ago it was announced that if a British Grand Prix would be held, this would happen without an audience. This meant that people with a ticket could ask for a refund. The circuit itself says to Forbes that "the company depends on the income from ticket sales to keep everything running".
Now that the main source of income is gone for the circuit, it remains to be seen to what extent it will be able to hold its own. It is vital for the British circuit to organise a Grand Prix with an audience, because without that source of income, the circuit has no legs to stand on.