British Grand Prix's future secured as Silverstone signs new five-year F1 deal

The British Grand Prix's future has been secured following the announcement of a new five-year deal.

Formula One boss Chase Carey, Silverstone managing director Stuart Pringle, and British Racing Drivers' Club chairman John Grant made the announcement at the Northamptonshire track on the eve of this weekend's race.

"It is a pleasure to announce that we have renewed the Silverstone agreement for the next five years, through to 2024," said Carey.

"We are thrilled to have this in place. Silverstone is a signature race on the calendar and a special event."

The news brings to an end to a two-year saga, sparked when Silverstone triggered a release clause in 2017 in the hope of brokering a better deal.

Sunday's race was set to be the last unless a new arrangement could be found.

Grant said: "Silverstone is one of the most iconic Grands Prix on the F1 calendar and with such a rich heritage it would have been disastrous for the sport and fans had we not managed to find a way forward.

"2020 will be the 70th anniversary of the first round of the World Championship which took place at Silverstone on 13th May 1950 and will make next year's event all the more special. This is great news for the BRDC, Silverstone and Formula 1 - and for millions of British motor racing fans."