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Discussions are underway with Silverstone and discussions are going in the right direction, according to sources, but no announcement is expected anytime soon.
An article in the Financial Times this week said that Liberty Media was about to agree on an agreement, but the amount to be paid to the US company for the "promotional costs" of the race was still the subject of 'a debate. Liberty Media is asking for 18 million pounds ($ 23.5 million) a year, while the BRDC has offered 15 million pounds, according to the FT article.
Earlier this week, former F1 boss, Bernie Ecclestone, expressed concern for the future of the brand, suggesting that if she were to survive another 50 years, she should embrace electricity .
Ecclestone even went so far as to say that competing racing company Formula E was currently considering the next best commercial proposition.
"There is more chance of a big and big expansion and commercial chances of making a difference in Formula One," Ecclestone told Reuters.
It seems that this safeguard is also on the agenda of F1 officials. Speaking in an article in the FIA Auto magazine, Ross Brawn, general manager of motorsport in F1, pledged to continue his efforts to make the sport "even more spectacular".
"It's an opportunity to chart a new path for a sport that has few rivals, in terms of show and global reach," he explained.
"We want to make Formula 1 even more spectacular, with more unpredictable races and to sustain it financially and environmentally, and we are all working together to achieve that and I am very optimistic because we are starting from an incredibly solid base."
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