Crash.Net F1 News

Silverstone: Profits in excess of £2 million in 2010

11 March 2011

Silverstone managing director Richard Phillips has confirmed the Northamptonshire-based circuit, which is the home of the British Grand Prix, made a profit in excess of £2 million in 2010.

Speaking to Reuters, he added he was optimistic that turnover would continue to increase in 2011 too, with the new pit and paddock development - the 'Silverstone Wing' – set to be opened in May, well in advance of the F1 event on July 10.

“Turnover in 2010 was around the £47-48 million mark. This year we are targeting just over 52,” he confirmed. “It's a good healthy increase. We've been growing really about 14 percent a year over the last four years. If you go back to 2007, we were around mid-30 millions in turnover.

“I think we are probably the only privately-funded grand prix circuit that does make a profit in the world but the UK is quite peculiar because there is a huge motorsport following, there's a lot of industry here.

"We seem to be doing better than the Germans and French and Italians,” he summed-up.