Where does Silverstone rank among 2024’s Formula 1 venues? The answer to that question depends on the metric you apply to the question.
Let’s take ticket prices. If one applies a financial lens to ranking F1 circuits Silverstone ranks in the top five, but that is no reason to celebrate for the average F1 punter as the British Grand Prix venue boasts the fifth-highest ticket average ticket price on this year’s calendar.
F1 Destinations lists the average price of a British GP ticket at $689 (or roughly £537), ranking below Monaco ($764), Mexico City ($783), Miami ($878) and Las Vegas ($1617). Silverstone’s standing rises to the second highest when accounting for just general admission.
This represents a concerning trend of British GP ticket prices rising year on year, albeit in tandem with F1’s growing popularity and the increasing demands levied at a circuit hosting the world’s premier motorsport. Still, with a cost-of-living crisis at play in the UK, is there a point where hiking ticket prices must stop?
The discourse around Silverstone’s ticket prices ramped up in the weeks building up to the event when Stuart Pringle, Chief Executive of Silverstone Circuit, implied to Autosport that Max Verstappen and Red Bull’s dominance in 2023 was making it harder to sell out the venue.
“Historically we’ve always had to promote up until the end, but definitely there was a discernible bounce post- Covid,” Pringle began. “That wasn’t unique to motorsport or Formula 1. Indeed, it was seen in other sports and entertainment events. But if there is a strong likelihood of the same winner, and the jeopardy is taken out of sport, it does take the edge off it. Last year was very repetitive in terms of one team dominated and they set off this season in the same vein. Things may be changing now, and I do recognise that we had several years of a British driver dominating the championship, and we didn’t mind that so much as a British promoter! But it’s certainly been a lot harder with Red Bull dominating. Also, as a promoter, you have to get your ticket pricing strategy correct. You could make these things go quicker if you reduce price. But we have got expensive bills to pay, not less the promoter fee, so it’s about hitting a strategy and making sure it works, which we’re pretty comfortable with.”
Laying some blame at Red Bull’s door immediately drew criticism from punters, who suggested that the £400 plus pound four-day general admission fee was more to blame. Verstappen, too, responded to Pringle’s reasoning, telling the media during the Spanish Grand Prix weekend: “I don’t think it’s my fault. I mean, the F1 season is very exciting. There are a lot of teams fighting for wins now. And if a promoter can’t fill the seats and they blame it on someone, then I think they first have to look at themselves with their own eyes. Because in other cases, it’s quite easy to fail.”
Lewis Hamilton also spoke on the matter in Spain. “I mean, it’s an incredible event,” he said of the British GP. “If you take it from a bird’s eye view, the whole event is… all the space is used up. So many fans come and have a great weekend. The only thing I would ever say is that we have to watch ticket prices. I think they’re continuing to rise, and the cost of living nowadays, I think it’s too high. I’m just thinking from the perspective of a fan that would come with a family. It’s hugely expensive, so I think it’s looking into ways where you can make better accessibility for people.”
Pringle responded to the criticism, telling the BBC: “It’s good value when you weigh up what’s included. 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.”
A record 480,000 weekend crowd turned out for the event last year and Pringle argued that thanks to the success of George Russell in Austria, combined with Lando Norris and Verstappen’s clash, Silverstone would be able to surpass that count this time around.
“Ticket sales have been incredibly strong since George Russell won at the weekend in Austria [and] the tussle between Lando Norris and Max Verstappen,” he said. “It’s really captured the British interest.”
Russell, Norris and Hamilton were each asked about Silverstone ticket prices on Thursday ahead of this past weekend’s Grand Prix. Russell began by saying: “I think the sport’s in a very healthy place,” before noting that “Silverstone isn’t supported by any governments, as many other races are.
“So I don’t know about the profitability of Silverstone itself. I do feel that Silverstone, as an event, exceeds every other race on the calendar. You’ve got A-list acts singing on Thursday, Friday, Saturday nights. They’ve got to be paid. They’ve got to be funded for. The whole atmosphere of this weekend is more like a festival as opposed to one race. And if you compare the price of a ticket for a 90-minute football game versus a four-day event it’d be interesting to see how it how it tallies up. But of course you never want it to be too expensive for fans to become a watch and support us. It’s a very difficult one but as I said I do think Silverstone does an incredibly good job and they haven’t always been profitable in the past.”
“I would say it’s the best race of the whole season from a fan perspective and also from a driver perspective,” Norris added.
“I mean, ultimately, it is an amazing sporting event,” said Hamilton. “I think Silverstone and with the BRDC, I think they’ve done an amazing job over the years to make the weekend packed and entertaining. Naturally, with where we are in the world, the prices continue to go up, and that’s obviously not something the fans want to see. But Silverstone doesn’t have the government funding, and perhaps there’s a need to investigate a new business plan, maybe to have outside investors maybe. I don’t know. That’s not my job, obviously.”
An important factor to also consider is the role the BRDC and Silverstone have in elevating grassroots motorsport in the UK, something it wouldn’t be able to do without the British Grand Prix. Nevertheless, when regular fans see the general admission banking at Maggots and Becketts torn up to make way for super-expensive holiday rental properties, it’s easier to draw conclusions that the rising ticket prices are due to something quite different than grassroots motorsport. Add to that the Hilton hotel dominating the start/finish straight, eating up space where extra grandstand seating could be and the picture being painted doesn’t look too favourable on the regular fans, the lifeblood of motorsport itself.
If ticket prices continue to rise in 2025, no doubt the debate will continue. With another decade of F1 at Silverstone ahead of us, all parties would benefit from full transparency when it comes to ticket prices, without hiding behind Verstappen’s dominance and uncontrollable factors. However, with 480,000 reportedly turning up across the four-days once again in 2024, witnessing Lewis Hamilton’s return to victory, maybe Silverstone can get away with it.
So there are19 races cheaper…..
Seriously, what sporting event hasn’t become too expensive? As long as there are ways to stream or televise events to viewers that makes a lot of money for the stakeholders, there is no incentive for the stakeholders to provide an affordable in-person event. People who wish to attend in person now pay a premium for this “privilege”.
Yes, an absolute rip off and it doesn’t end there once you in, as trying buying something as everything is so eye watering expensive. I no longer go for this reason as being the home race it is free to watch on tv. But if fools are prepared to pay the ridiculous costs and Silverstone management will be more than happy to take your money. Only when people boycott will things change, but I am not holding my breath