Formula One confirms British Grand Prix will remain at Silverstone until 2024

Calm down F1 fans. The British Grand Prix will stay at its current home until atleast 2024. The track has signed a new deal with the Formula One management that ensures that the Grand Prix will continue at Silverstone for the enxt five years.. 

Reuters reports that the race’s future has been uncertain since 2017, when a break clause was activated to terminate the contract after this weekend’s grand prix.

Formula One said in a statement the new deal ensured the circuit, which hosted the first world championship grand prix in 1950, would remain on the calendar until at least the end of 2024.

F1 CEO Chase Carey said in a statement: "We are really pleased to confirm that the British Grand Prix will stay on the FIA Formula 1 world championship calendar for at least the next five years, with the event remaining at its longstanding home, Silverstone circuit," said Carey.

"We have always said that, if it is to have a long-term future, our sport must preserve its historic venues and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950."

The first ever F1 race was held at Silverstone almost 70 years ago in 1950. British racer and crowd favourite Lewis Hamilton lost pole position to his teammate Valtteri Bottas at qualifying and has won the race a record five times. He will be hoping to recreate some of that race winning once again today as he starts from P2. 

Mind your speakers...

Quite the reception for home hero @LewisHamilton at the Silverstone Fan Forum earlier #BritishGP #F1 pic.twitter.com/GBFDETwh8Y— Formula 1 (@F1) July 13, 2019

He's won his home race five times

But that first one, in 2008, will always be special to @LewisHamilton #F1 #BritishGP pic.twitter.com/ow9bcD8xaA— Formula 1 (@F1) July 10, 2019