F1 »

Silverstone announces 2008 profit

Silverstone reveals a profit for the 2008 calendar year and expresses hope of further profits to come
Silverstone has revealed it made a profit of £662,000 during 2008, with an annual turnover of more than £38 million.

The announcement comes at the same time as Donington Park struggles to find the finances required to fund the redevelopment required to host the British Grand Prix, with the profit coming from income on the venue's property interests as well as circuit activity.

That includes income and profit generated by the 2008 British Grand Prix.

“We are very happy with our latest figures,” Silverstone Holdings managing director Richard Phillips said. “We have made substantial progress in diversifying the business into a successful multi-purpose venue and are now delivering consistently good financial results. Silverstone is the UK's premier motor sport venue, run by one of the most experienced teams in the business, as evidenced this year by our hosting of the most commercially successful Formula 1 Grand Prix on the calendar.

“The margins in motorsport are notoriously slim but we remain one of the few venues in the world that produce a small profit from our blue riband event. We are growing our sales well and this, combined with an exciting investment plan and our new MotoGP event, makes us optimistic about our future.”



Related Pictures

Click on relevant pic to enlarge
Mark Webber (AUS) Red Bull RB5, British F1, Silverstone, 19th-21st, June, 2009
Michael Andretti drives the MP4/8 in the 1993 San Marino Grand Prix
23.11.2014- Race, Kevin Magnussen (DEN) McLaren Mercedes MP4-29 and Jenson Button (GBR) McLaren Mercedes MP4-29
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner and F1 World Champion 2014
23.11.2014- Race, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner and F1 World Champion 2014
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner and F1 World Champion 2014
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 race winner and F1 World Champion 2014
23.11.2014- Race, 3rd position Valtteri Bottas (FIN) Williams F1 Team FW36
23.11.2014- Race, Fernando Alonso (ESP) Scuderia Ferrari F14-T and Jenson Button (GBR) McLaren Mercedes MP4-29
23.11.2014- Race, Nicole Scherzinger (USA), girlfriend of Lewis Hamilton (GBR)
23.11.2014- Race, Felipe Massa (BRA) Williams F1 Team FW36
23.11.2014- Race, 2nd position Felipe Massa (BRA) Williams F1 Team FW36
23.11.2014- Race, Michele Rodriguez (USA), Actress
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 F1 World Champion 2014 and 2nd position Nico Rosberg (GER) Mercedes AMG F1 W05
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 F1 World Champion 2014 and 2nd position Nico Rosberg (GER) Mercedes AMG F1 W05
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 F1 World Champion 2014 and 2nd position Nico Rosberg (GER) Mercedes AMG F1 W05
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 F1 World Champion 2014 and 2nd position Nico Rosberg (GER) Mercedes AMG F1 W05
23.11.2014- Race, Celebration, Lewis Hamilton (GBR) Mercedes AMG F1 W05 F1 World Champion 2014 and 2nd position Nico Rosberg (GER) Mercedes AMG F1 W05

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


Alan D - Unregistered

October 21, 2009 8:15 PM

We should be glad to hear Silverstone are making a profit. A patch of land the size of Silverstone would be worth a lot more than 600,000 a year to the housing developers.



© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.