Lewis Hamilton needs big win at Silverstone, says Mansell

Silverstone announced on Tuesday that it would activate a break clause in its contract to put an end to hosting the British Grand Prix in 2019, despite Perez being one of many drivers to speak highly of the circuit.

Last week, we examined alternative venues for Formula One's British Grand Prix, in the wake of the announcement that Silverstone was looking to free itself from the worsening hosting fees faced annually by the track's owners, the British Racing Drivers' Club.

"NASCAR owns 22 of the races that they compete in, which I think is made up of 12 circuits".

School children have been invited to participate in activities during the day before classic and modern F1 cars take to the street for a parade in the evening, as part of a promotional package for the British Grand Prix. We have to stop losing money", he added."We can no longer let our passion for the sport rule our heads.

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The promoter's fee, due to rise by five per cent annually until the expiry of Silverstone's original deal in 2026, has imposed a ruinous burden upon the BRDC, who made a £4.8 million loss previous year.

Former world champion and four-time British Grand Prix victor Nigel Mansell, who tasted victory three times in the race at Silverstone, believes it would be "a very sad day" if the circuit no longer hosted grand prix racing.

The 2017 British GP takes place this weekend.

Losses - worth S$13.52 million - the British Racing Drivers' Club sustained from holding the British GP the last two years.

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The BRDC has come to the conclusion, that with its current contract, the event is financially unviable and potentially ruinous, and have opted to bring an early end to the 17-year contract that came into effect in 2010. The race organizers have stated that the costs of presentation of the test will increase to 25 million pounds (41.5 million dollars) by 2026, the final year of the current contract.

By 2026, the previous year of the current contract, the fee would have risen to £25 million ($32 million).

"My view is Liberty should buy Silverstone", said Brown (pictured).

"Almost every other race in Europe would happily swap for the Silverstone deal", he insisted. They say it is the "best attended Grand Prix in the world". "There are some hurdles we'll have to overcome, but there's no reason at all why it can be beyond the wit of us to organise an F1 race in London in the future".

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Chase Carey, chairman and chief executive of Formula 1, wants more street races, including one in London, says the paper, and although London Mayor Sadiq Khan is not a fan of the idea due to the pollution, Liberty Media is "considering the Docklands area in east London".