Silverstone Circuit is set to report record revenue for its fiscal year 2018 thanks to an increase of the British Grand Prix’s ticket sales.
According to a report from The Telegraph, the BRDC – owners of Silverstone – has exceed its financial projections for 2018 with a record revenue estimated at £59.3 million.
Half of that turnover was reportedly generated by the British Grand Prix event which saw its ticket sales soar by nine percent in 2018, with a record 140,500 fans witnessing Lewis Hamilton’s win last year.
However, the BRDC’s bottom line for 2018 was hit by the loss of revenue linked to the sale of the institution’s Lotus dealership in April 2018, as well as by the significant refund to 40,000 fans of ticket sales associated with the cancellation of the UK’s MotoGP round at Silverstone following track drainage issues during the rainy weekend.
According to a letter sent to BRDC members by chairman John Grant, attendance for this year’s British Grand Prix increased once again, adding that “early ticket sales for 2020 are currently up on last year by no less than 50 per cent”.
Silverstone is also set to benefit from next year from a alleged 25 percent reduction of its hosting fee for F1 per its latest 2020/24 agreement with The Formula One Group.