Britain Formula One – F1 – British Grand Prix 2016 – Silverstone, England – 10/7/16Mercedes’ Lewis Hamilton wins the race REUTERS/Matthew ChildsLivepic

LONDON The house owners of British Grand Prix circuit Silverstone are assured Liberty Media’s takeover of Formula One will give them room to make a revenue and keep on the calendar.

British Racing Drivers’ Club (BRDC) president Derek Warwick advised Sky Sports tv he was “very positive now about the future”.

The BRDC owns the previous World War Two airfield that hosted Formula One’s first world championship race in 1950 and has a contract to 2026.

The BRDC knowledgeable all members in a letter final month that it was giving severe thought to exercising a break clause due to the “potentially ruinous risk” posed by internet hosting charges that elevated yearly.

Media experiences have indicated that Silverstone must pay almost 17 million kilos ($21.08 million) to host the race this 12 months, rising to 26 million by the top of the contract.

“Monday definitely changed the face of 2017,” stated Warwick, referring to the completion of Liberty’s takeover and their alternative of Bernie Ecclestone with Chase Carey as Formula One chief govt.

“We know the place we’re going now with Liberty, we all know the place we’re going with Silverstone.

“We are very constructive we are able to now work this grand prix and make a revenue in 2017. We’re trying ahead to 2017.”

Last 12 months’s race, with triple world champion Lewis Hamilton on house soil for Mercedes, noticed a race day crowd of 139,000 and Warwick indicated Liberty would permit Silverstone to profit from income streams hitherto closed to the circuit house owners.

“What he’s saying to us is he would possibly loosen up sure restrictions that Bernie has had on us over the previous few years when it comes to merchandising, advertising and marketing, sponsorship and so on,” stated the previous racer.

“We know for a reality there are some circuits on the market which have extra flexibility with their contract with Bernie than what we have got.”

(Reporting by Alan Baldwin, enhancing by Amlan Chakraborty)

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