Lack of cash leaves Silverstone trailing behind newer circuits

Silverstone, the home of the British Grand Prix, is under threat along with several other traditional Formula One circuits, according to a leading sports marketer.

Andrew Philpott, global practice leader for Formula One at sports marketing agency Prism, says that the UK’s premier race venue faces stiff financial competition from new, heavily subsidised circuits.

He adds: “F1 as a sport has grown and evolved globally in the past few years with a number of new circuits joining the fold such as Shanghai, Bahrain and Istanbul.”

“These circuits, either through private or government funding, have developed modern facilities, met FIA specifications and now host a Formula One race.”

Philpott believes that as the new tracks often receive government subsidies, they will be able to outbid the traditional tracks.

Tony Jardine, a director of the British Racing Drivers’ Club, which owns Silverstone, accepts that the circuit is facing a financial challenge to match the levels of investment from newer circuits.

But he points out that Silverstone is lobbying hard for government financial support and insists it will survive due its popularity with the teams, the drivers and the fans.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here