Silverstone boss defends F1 ticket prices following Hamilton criticism

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Silverstone Circuit managing director Stuart Pringle has defended ticket prices for this year’s Formula 1 British Grand Prix after criticism from Lewis Hamilton and fans.

Pringle emphasised that the money made from the event is reinvested back into the circuit and into British motorsport.

This year’s event is scheduled to run from Friday (July 5) to Sunday (July 7), with three-day grandstand tickets still available at £629 ($800/€740) and general admission for race day at £309. However, cheaper tickets were on offer earlier in the year.

Last week, seven-time F1 world champion Hamilton, who has a record eight wins at Silverstone, warned its prices might be unaffordable for families due to the cost-of-living crisis.

Pringle was adamant that the issue had been addressed, saying that a greater number of lowest price general admission tickets were made available this year compared to 2023.

“It’s good value when you weigh up what’s included,” Pringle said, as reported by BBC.

“Not only are you getting a world-class sporting event, you are getting a concert within the ticket price every night of the entire weekend.”

Pringle was in charge at Silverstone through a period when hosting the race resulted in a loss, but is now reaping the rewards with healthier finances and a new recently signed 10-year contract with F1.

Now that the event produces revenue, money is being put towards facilities and future drivers. This includes a commitment to build a £16.2m karting track at the circuit.

“With an exception of a small percentage that goes toward the running costs, 95% of the money gets reinvested,” Pringle said, as reported by The Guardian.

“There are no dividends, it is reinvested into the site for the good of British motorsport, putting the profits we are making back into the fabric of Silverstone.”

Last year’s British Grand Prix set an attendance record for an F1 world championship event of 480,000.

Pringle is expecting that the race will sell out once again this year.