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.

Â “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."