Silverstone is set to be the venue for the British Grand Prix until 2034, following the finalisation of a new long-term agreement with Formula 1.
Having hosted the inaugural F1 race in 1950, Silverstone has been the site of the British GP since 1987, succeeding a period during which it alternated with Brands Hatch.
Undergoing several renovations, the modern Silverstone has become one of the calendar's most popular races. Last year, a staggering 480,000 fans attended the event, which featured a music festival alongside the on-track racing.
Although their existing contract with F1 was scheduled to conclude after this year's race, a recently agreed-upon 10-year extension ensures that Silverstone will maintain its status as a prominent fixture on the calendar.
“This long-term commitment reflects the importance of the British Grand Prix to Formula 1 and their acknowledgement of our ability to deliver a world-class experience for the British fans who are among the most enthusiastic and knowledgeable in the world,” said Silverstone CEO Stuart Pringle.
“The cheers of support for the home teams, and particularly for the British drivers on the grid, makes the Silverstone atmosphere unique and I am looking forward to harnessing this passion for our sport and taking the event to the next level in the coming decade.”
F1 boss Stefano Domenicali added: “I am delighted to announce that the British Grand Prix will remain on the calendar for ten more years with this agreement.
“Silverstone is an iconic venue at the heart of F1 history and as it approaches its ninth decade hosting Grands Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it.
“I would like to thank Stuart Pringle and the Silverstone team for their hard work and dedication to take the British Grand Prix to new heights and I look forward to working closely with them as they look to further improve the facilities and fan experience over the next ten years.”
The announcement comes a week after F1 extended its agreement with Suzuka to host the Japanese Grand Prix until at least 2029, as the previous deal expires after this year's race in April.
This implies that no current tracks have agreements expiring this year. Spa-Francorchamps, Monaco, and Monza are among the circuits that have contracts until 2025.
Lewis Hamilton has won at Silverstone eight times, with Max Verstappen emerging victorious in last year's race. The British Grand Prix for this year is scheduled to take place on 5-7 July.