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Silverstone racetrack is investing in new karting facilities as the host of the Formula One British Grand Prix looks to tap booming interest in the sport and foster a new generation of racers.
Having secured a deal with F1 to host the British Grand Prix until 2034, the Northamptonshire track — which hosted the world’s first F1 race in 1950 — wants to upgrade its infrastructure to ensure it can handle the large crowds who are drawn to the former RAF airfield.
“We’ve got a lot of catching up to do,” managing director Stuart Pringle told the Financial Times. “It’s a huge site, the infrastructure is ageing in many areas — yes, we’ve got a few shiny bits in places, but we need to invest massively.”
He hopes the £16.5mn karting track, which is expected to open as soon as next year, will help unearth British racing drivers in the mould of seven-time world champion Lewis Hamilton, McLaren Racing’s Lando Norris and Mercedes racer George Russell.
The facility — which will host both competitive race meetings as well as casual driving sessions for children and corporate entertainment — will also help Silverstone bolster its corporate events business and diversify its revenues, he added.
Karting is a common route into F1 for young racers in the UK with more than 5,000 events taking place every year, according to Motorsport UK.
In accounts published this month, Silverstone Circuits reported net profit of £16mn on revenues of £96mn for 2023, up from £14mn and £73mn respectively the prior year. Silverstone is on course to report annual revenues of more than £100mn, Pringle said.
The circuit, which is owned by the non-profit British Racing Drivers’ Club, is also upgrading its facilities as part of the overhaul.
Under the ownership of US group Liberty Media, F1 has attracted new fans through Netflix documentary series Drive to Survive, helping Silverstone and other tracks draw in more spectators. The British GP weekend in July attracted 480,000 attendees this year.
However, Liberty Media has also raised the bar for race promoters through its own investment in the Las Vegas Grand Prix, one of three US races on the annual F1 calendar.
Under Pringle the British Grand Prix has added high-profile musical acts to the bill and embraced a festival feel. It is also in the process of opening in stages this year a hotel resort named Escapade.
However, Silverstone came under fire ahead of the event this year from Hamilton, who urged the promoter to ensure that families could still afford to attend. Pringle has previously defended the circuit’s sales strategy, which makes use of dynamic pricing, and said 60 per cent of tickets had been sold for next year’s event in the first month since launch.
According to the circuit, it has increased the number of tickets in its lowest price category for 2025.
It has also increased the number of largely fixed-price tickets — those not sold on a dynamic pricing basis — although some prices will rise within a range depending on capacity levels.
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