Stewart: BRDC could have gone bust
by Dave Maher, 05 July 2008
Former Formula 1 world champion and British Racing Drivers' Club member Jackie Stewart believes the organisation would have gone bankrupt had Silverstone continued to host the British Grand Prix beyond 2009.
The BRDC, owners of Silverstone, has been told that Donington Park will be the venue for the British leg of the Formula 1 calendar from 2010 onwards.
BRDC president Damon Hill has angrily hit out at Formula One Management chief Bernie Ecclestone's decision to move the race, but Stewart appears to be more accepting of the venue switch.
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"I am disappointed Silverstone is losing the British Grand Prix," Stewart told PA.
"But, quite frankly, it is very difficult for a private members' club to try and continue to afford the kind of monies needed to retain the race in this country."
Ecclestone demanded a new contract with Silverstone for hosting the race, of £11 million per event, with a minor rise in percentage each year. And Stewart feels the cost would have been too great for the BRDC.
"Almost every other country in the world that hosts a Grand Prix, if not every one, has government support.
"I don't think there is the opportunity for any promoter, given the present cost of Formula 1, to make ends meet.
"For the BRDC to continually lose money, just to keep the British Grand Prix, is not correct.
"Eventually it would have bankrupt the BRDC."