July 11, 2017 / 1:33 PM / a year ago

Motor racing-Silverstone triggers break clause in British GP contract

SILVERSTONE, England, July 11 (Reuters) - Silverstone’s owners have triggered a break clause in the British Grand Prix contract that will see an end to Formula One at the circuit after 2019 unless a new deal is agreed, they said in a statement on Tuesday.

This year’s race takes place on Sunday.

“This decision has been taken because it is not financially viable for us to deliver the British Grand Prix under the terms of our current contract,” said British Racing Drivers’ Club (BRDC) chairman John Grant.

“We sustained losses of 2.8 million pounds ($3.60 million) in 2015 and 4.8 million in 2016, and we expect to lose a similar amount this year.” ($1 = 0.7778 pounds) (Reporting by Alan Baldwin; Editing by Hugh Lawson)

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