Silverstone announces profit

The British Racing Drivers’ Club (BRDC), owners of Silverstone, have announced that the home of the British Grand Prix turned over a profit in the region of two million pounds last year, with the long-term future of the Formula 1 race having now been secured.

Despite the huge development which is ongoing at the Northamptonshire venue, its proprietors were still able to end the year comfortably in the black.

 “Turnover in 2010 was around the 47-48 million pounds mark," Silverstone Director Richard Phillips explained to Reuters.

“This year we are targeting just over 52. It's a good healthy increase. We've been growing really about 14 percent a year over the last four years. If you go back to 2007, we were around mid-30 millions in turnover.

“I think we are probably the only privately-funded Grand Prix circuit that does make a profit in the world but the UK is quite peculiar because there is a huge motorsport following, there's a lot of industry here. We seem to be doing better than the Germans and French and Italians."

Leave a Reply