Silverstone Records £2 Million Profit in 2010

Whereas a couple of years back Silverstone was on the verge of losing its place in the Formula 1 championship due to poor infrastructure and lack of investments in the Northamptonshire-based complex, at the end of the 2010 season the circuit has recorded a profit of over £2 million.

The positive financial result for the past year has been confirmed by the very managing director of Silverstone, Richard Phillips, who also estimated that the ascending trend in terms of profits will likely continue in the year to come.

In order to reach that goal, the owners of the Silverstone complex, namely the British Racing Drivers' Club (BRDC), have pushed hard to ensure that the “Silverstone Wing” and the pit lane developments will have been completed by May this year. Therefore, both Formula 1 and the MotoGP – which has its British GP round scheduled at Silverstone on June 12 – will benefit from the new update in infrastructure.

“Turnover in 2010 was around the £47-48 million mark. This year we are targeting just over 52,” said Phillips, according to a report from crash.net citing the Reuters news agency. “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,” he concluded.