Introduction
The British Grand Prix is an annual racing event held at the Silverstone Circuit, England and which is part of the Formula One World Championship. The event is widely renowned for being the first F1 race ever upon the introduction of the F1Championship in 1950. Governed by the International Automobile Federation (FIA) under the F1 World Championship, the British GP has had a wide range of economic, social, and cultural implications on England (BBC, 2013). This paper reflects on the history of the event as well as the contributions it has made not only to England but also to racing as a sport. The paper will conclude by looking into the future of the race and the measures that could be taken to safeguard it.
Historical Implication
The history of the British GP traces back to 1926. After winning the French GP in 1923 and amid growing interest from fans, Henry Segrave was requested to organize the first British GP in 1926. The first event was not as successful as anticipated with only three cars finishing the race. The onset of the Second World War had a serious implication on the event as it caused significant damages to the Brooklands, the event’s venue at the time. Subsequently, the event was abandoned. In 1949, a series of changes were made to the event with an aim to attracting crowds (Pask, 2012). Most notably, the race was made impressively fast.
The introduction of the F1 World Championship in 1950 marked a new era for event with the first ever race held at the Silverstone Circuit. In 1955, the Silverstone Circuit shared hosting responsibilities with the Aintree (Pask, 2012). This changed in 1963 when the Brands Hatch replaced the Aintree as a co-hosting venue. In 1987, the Silverstone Circuit was reinstated as the sole hosting venue for the event. The Silverstone has long been renowned as one of the fastest F1 tracks. The British GP has always experienced a strong presence of British drivers. Jim Clark is arguably one of the most notable as he won the race five times. Nigel Mansell, another home-bred winner, won the race four times while Jackie Stewart and David Coulthard won it twice each. Other notable British drivers to have won the race include Lewis Hamilton and Damon Hill. The level of success achieved by British drivers at the race has served as a source of pride for the locals and this has ensured the race remains largely popular.
The event has had several memorable events during its history. In 1985, Keke Rosberg set a speed record of 160.92mph that lasted for 17 years. This record marked Silverstone as one of the fastest circuits and this in turn increased the event’s popularity. During the following year, French driver Jacques Laffite was involved in accident that saw him break both his legs. Laffite’s Formula One career ended with this tragic accident. Concerns were raised over the speeds of cars while racing on the Brands Hatch with the venue criticized for its small size and lack of area for expansion.
Despite its admirable growth, the British GP has faced several challenges in recent years. In 2003, the British Racing Drivers Club (BRDC) objected recommendations made by the FIA over improvements that required to be made to the track. In 2004, Ecclestone accused the BRDC of declining to make the necessary payments for the race and this meant that the race was dropped from the provisional calendar for 2005 edition. Lengthy discussions ensued and an agreement was reached to hold the event at the Silverstone until 2009 (Whitelock, 2006).
Socio-Cultural Impact
The British GP has also had several negative socio-cultural impacts. Traffic congestion coupled with difficulties in accessing social amenities around the Silverstone circuit presents probably the most notable challenge. Due to the influx of people and the desire for local entrepreneurs to maximize on profits during the event, the costs of social services tend to rise as the event unfolds. Disruption to normal life is therefore noted to result from traffic congestion and the high prices of commodities experienced during the event. Pollution of the areas surrounding the Silverstone circuit has also had a negative impact on the attitude of the locals towards the event. Noise and littering have been noted as the most common forms of pollution that result from the event (Henry, 2010).
Economic Impact
The British GP has played a significant role to accelerate the growth of the economy of the Northamptonshire region and England at large. The event attracts approximately 116,000 spectators annual while hundreds of thousands of fans follow it on television and on social media platforms (Alonso, 2014). Visitors to the event largely come from England although the EU and other regions of the world are as well represented. According to Formula Money, the annual economic impact of the British GP stands at £60 million. The average amount spent by each visitor is estimated at £60 per day (Pask, 2012).
According to a report prepared by the SQW Consulting, the 2008 British GP generated £14 million from ticket sales. In addition to this, the event generated £3.7 million from additional event-related sales (SQW Consulting, 2009). Corporate hospitality generated £4.8 million. The 2008 GP employed a total of 4,650 temporary workers while the Silverstone Circuit employs 85 workers on a permanent basis. With the event lasting for three days, this implies that the 2008 British GP created a total of 13,950 staff days (SQW Consulting, 2009). The average spending on food and drinks of each individual present at the event was quoted at £22.60 while spending on merchandize stood at £32.94. These figures represented on-site expenditure. Spending per person in the wider economy of the Northamptonshire region stood at £20.75 for accommodation, £9.77 on food and drink, and £3.74 on merchandize (SQW Consulting, 2009).
Overall, the British GP is an integral player in the economy of the UK. Amid fears that the event would be cancelled in 2010, it was estimated that the UK economy would lose over £1 billion within a period of 17 years. Due to its significance therefore, the UK government ensured that the event was not cancelled even after Donington failed to raise the £135 million required to repair its circuit.
Contribution and Subsequent impact to Racing
The British GP has made a significant contribution to racing as a sport. One of the most significant impacts of the British GP in recent years has been its bid to make Formula One less elitist by cutting down ticket prices while raising the age for free admission from two years to ten years. Formula One racing has for a long time been regarded as a sport for the elite due to the high ticket prices. In a bid to accommodate the hardcore supporters of the sport, Silverstone’s new management has turned into making the event cheaper as a means to boosting its popularity. The British GP is therefore moving towards recording more even crowds as opposed to an earlier situation which had seen a steady growth of the affluent class as the majority attendants (Great Britain, 2010).
During this year’s race, tickets for the event are expected to drop from £155 and retail at £99. This is expected to change the status quo at Silverstone with the management aiming at targeting the future generation. The approach taken by the British GP has a critical implication on Formula One and racing as a sport. Known as a sport for the elite, racing is gradually gaining popularity among the middle class. Targeting the middle class is proving a masterstroke in regard to addressing the alienation created by racing (Pask, 2012).
The British GP has also served as a platform through which Formula One racing modifications have been made. The Silverstone circuit has been modified over time in order to improve security measures. The high speeds recorded at the venue initiated calls for modifications to be made after several speed-related accidents. Adding a chicane to Woodcate as a means to slowing cars for instance was a remarkable modification that has improved the safety of the Formula One race.
The Future of the British Grand Prix
The future of the British GP has been the subjected to debate in recent years amid fears that the event could be cancelled (Forbes, 2014). This debate started after the event was moved to Donington Park but the circuit failed to obtain funds to modify the venue so that it could meet the standards set for Formula One races. Although the row that followed these events had earlier posed a real threat to the future of the race, the agreement reached between Formula One’s CEO Bernie Ecclestone and the circuit’s owner, the British Racing Driver’s Club (BRDC), secured the race more than any of the deals made between the two parties in the past.
All past deals between the two parties have been five-year deals and this has always meant that the circuit lacked the needed investment to redevelop. The deal between the two parties has also seen the FIA approve plans to improve Silverstone. Due to these improvements, the traffic problems experienced during the event have been reduced. These improvements have however been realized after the UK government intervened to solve the stalemate between the FIA and Silverstone. With the immediate future of the race secured, focus has turned to establishing means to make the event a more involving one and to foster its growth amid competition from the Asian GPs (Pask, 2012).
The major obstacle to the British GP’s growth in terms of the crowds it attracts remains its high ticket prices. For the 2013 edition for instance, the cheapest ticket for the event was quoted at £145 with only races in Abu Dhabi and Brazil quoting higher ticket prices. The cheapest ticket for the Australian GP was quoted at £66 highlighting a significant difference despite the two racing events (BBC, 2013). The British GP has been noted as more expensive than the glamorous Monaco GP despite the fact that the latter offers a more appealing product compared to the former. According to a study by the British Broadcasting Corporation (BBC), the price for a British GP race-only ticket is £40 more expensive compared to an equivalent ticket for the Spanish GP. In addition to this, the German GP offers its race-only ticket at a much £60 less the price of the British GP (BBC, 2013). Such are the discrepancies between the British GP and other races that the event has been for long regarded as an affair of the rich and the affluent.
While Silverstone management has made tremendous steps to help address these discrepancies and make the race more involving, there have been arguments that the management should not focus on regulating its ticket prices in accordance to those of other races but rather on making the event commercially viable. The fact that the British GP is privately funded has been quoted as one of the main reasons why the race remains one of the most expensive. Critical to appreciate is that while this may hold, there remains a need to attract the already alienated social classes as a way of securing the race’s future. Unless the prices for the race are reviewed, it is hard to believe that current efforts by the Silverstone management to attract larger crowds will be viable in the long-term.
Conclusion/Summary
The British GP has been among one of the most exciting Formula One races across the globe largely due to the crowds it attracts and the popularity it has established on social media platforms. The history of the British GP traces back to 1926. After winning the French GP in 1923 and amid growing interest from fans, Henry Segrave was requested to organize the first British GP in 1926. The first event was not as successful as anticipated with only three cars finishing the race. The onset of the Second World War had a serious implication on the event as it caused significant damages to the Brooklands, the event’s venue at the time. Subsequently, the event was abandoned. In 1949, a series of changes were made to the event with an aim to attracting crowds (Pask, 2012). Most notably, the race was made impressively fast. The introduction of the F1 World Championship in 1950 marked a new era for event with the first ever race held at the Silverstone Circuit. In 1955, the Silverstone Circuit shared hosting responsibilities with the Aintree (Pask, 2012).
The British GP has made a significant contribution to racing as a sport. One of the most significant impacts of the British GP in recent years has been its bid to make Formula One less elitist by cutting down ticket prices while raising the age for free admission from two years to ten years. Formula One racing has for a long time been regarded as a sport for the elite due to the high ticket prices. In a bid to accommodate the hardcore supporters of the sport, Silverstone’s new management has turned into making the event cheaper as a means to boosting its popularity.
In summary, the British GP is set to grow significantly in the future and the focus has now turned to establishing means to make the event a more involving one and to foster its growth amid competition from the Asian GPs (Pask, 2012). Irrespective of its future plans, its biggest obstacle remains its high ticket prices. Therefore, the Silverstone management should not focus on regulating its ticket prices in accordance to those of other races but rather on making the event commercially viable.
References
Alonso, D. S. (2014). Strategies in sports marketing: Technologies and emerging trends. Hershey, PA: Business Science Reference.
British Broadcasting Corporation. (2013). British Grand Prix One of the Most Expensive F1 Races. Retrieved from http://www.bbc.com/sport/0/formula1/21561123
Forbes. (2014). Bernie Ecclestone Casts Doubt Over Future of British Grand Prix. Retrieved from http://www.forbes.com/sites/csylt/2014/05/10/bernie-ecclestone-casts-doubt-over-future-of-british-grand-prix/
Great Britain. (2010). Full speed ahead: Maintaining UK excellence in motorsport and aerospace: sixth report of session 2009-10: report, together with formal minutes, oral and written evidence. London: Stationery Office.
Henry, A. (2010). The battle for the British Grand Prix: The inside story of the fight to save Britain's biggest motor race. Sparkford, Yeovil, Somerset, UK: Haynes.
Pask, T. (2012). Early British Grand Prix. Manchester, UK: Crécy.
SQW Consulting. (2009). Economic Impact Assessment of the FIA Formula 1 British Grand Prix. Retrieved from http://www.sqw.co.uk/files/1813/8712/1123/64.pdf
Whitelock, M. (2006). 1 1/2-litre Grand Prix racing 1961-65: Low power, high tech. Dorchester: Veloce.
