MARCH 30, 2003
The future of the British Grand Prix
The British Racing Drivers' Club is worried that the future of the British Grand Prix at Silverstone is in doubt. Martin Brundle, the BRDC chairman, said that the future of the race was "50-50" but says that he is confident that Interpublic, the company which owns the right to the race, will abide by its commitments to the BRDC. But that has not stopped fears that financial losses will force Interpublic to sell its rights - if a buyer can be found. The obvious buyer is Bernie Ecclestone but it seems that he is unlikely to embark on such a deal because of competition legislation.
The British government supports the race but will not help with the funding, despite the fact that it supports many other sports across the country with money from the National Lottery.
The problem for Silverstone and the other traditional venues in Europe is that new venues such as Bahrain and China are willing to pay as much as $40m a year for the right to host a Grand Prix and it is impossible for small organizations such as the BRDC to compete with such figures.
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