The British Grand Prix will remain on the Formula 1 World Championship calendar for at least another five years.
Silverstone will host the event until 2024, after Formula 1, the British Racing Drivers’ Club (BRDC) and Silverstone circuit signed a new deal.
The announcement comes ahead of this weekend’s British Grand Prix, with Lewis Hamilton leading the Drivers’ Championship.
Britain has played a key role in the development of the sport, and Formula 1 expects it to continue playing that role for a number of years to come.
The British Grand Prix will stay on the FIA Formula 1 World Championship calendar
“We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 World Championship calendar for at least the next five years, with the event remaining at its longstanding home, Silverstone circuit,” said Formula 1’s Chairman and CEO, Chase Carey.
“We have always said that, if it is to have a long-term future, our sport must preserve its historic venues, and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950.
“Today, Formula 1 is a global sport, held on five continents, watched by an audience of over 500m fans around the world and our aim is to grow this number by bringing the sport we love to new countries, while also maintaining its roots.
“Silverstone and the British Grand Prix are an integral part of that vision.”
Silverstone remains an iconic track on the Grand Prix circuit, added BRDC chairman, John Grant.
He said: “2020 will be the 70th anniversary of the first round of the World Championship and will make next year’s event all the more special.
“This is great news for the BRDC, Silverstone and Formula 1 – and for millions of British motor racing fans.”
Talks between F1 bosses and Silverstone had been ongoing for around two years.
Silverstone will host the British Grand Prix this weekend, following on from Max Verstappen’s first win of the season.
The Red Bull driver held off Charles Leclerc in the Austrian Grand Prix, including a controversial twist in the final few laps.
Verstappen made contact with Leclerc at the end of the race, while attempting to overtake him.
The Ferrari driver was forced wide of the track, and Verstappen subsequently won the race.
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