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Reports: F1 British Grand Prix in jeopardy over hosting fee row

Getty ImagesThe prospect of staging two Formula One Grands Prix at Silverstone in July is in jeopardy because of a financial disagreement between the host circuit and series owner Liberty Media, according to UK media reports. With ten Formula One events postponed or cancelled already this year, organisers of the British Grand Prix confirmed in April that they would be willing to host two consecutive races behind closed doors at Silverstone to help get the season back on track after the coronavirus pandemic. F1 gets US$1. 4bn lifeline from Liberty MediaHowever, BBC Sport says that Formula One believes Silverstone is making ‘unreasonable’ financial demands to stage the races on 19th and 26th July. According to the British public service broadcaster, Formula One agreed to waive Silverstone’s UK£15 million (US$18. 3 million) hosting fee and cover all costs the track would incur from hosting the pair of Grands Prix.

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