Silverstone to host British Grand Prix until at least 2024

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Formula One race secured with five-year deal.

Cars stand in parc ferme in the pit lane after the British F1 Grand Prix at Silverstone Circuit on July 8 2018 in Northampton, England.Formula One champion Lewis Hamilton's home British Grand Prix will stay at Silverstone for at least the next five years under a new deal announced on Wednesday.

Formula One said in a statement the new deal ensured the circuit, which hosted the first world championship grand prix in 1950, would remain on the calendar until at least the end of 2024. A new contract will be a big boost to British motor racing, with seven of the 10 F1 teams based in the country and the motorsport industry providing tens of thousands of jobs.

Pringle stressed, however, that it would be misleading to suggest there was any sharing of the risk with Formula One management."We're still absolutely on the hook," he said.

 

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