Silverstone will remain as the host of Formula 1’s British Grand Prix through at least 2034 after a new 10-year agreement was reached.

Silverstone hosted the inaugural round of Formula 1’s world championship in 1950 and has been the permanent host of the British Grand Prix since 1987.

Its existing deal was due to expire at the end of 2024 but on Thursday a fresh 10-year agreement was reached between Formula 1 and promoters at Silverstone.

“I am delighted to announce that the British Grand Prix will remain on the calendar for ten more years with this agreement,” said Formula 1 CEO Stefano Domenicali.

“Silverstone is an iconic venue at the heart of F1 history and as it approaches its ninth decade hosting Grands Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it.

“I would like to thank [Silverstone CEO] Stuart Pringle and the Silverstone team for their hard work and dedication to take the British Grand Prix to new heights and I look forward to working closely with them as they look to further improve the facilities and fan experience over the next 10 years.”

Silverstone’s grand prix is among the best-attended on the current calendar, with an estimated 480,000 spectators recorded across the four-day event in 2023.

The extension means Silverstone now has one of the longest contracts on the Formula 1 schedule, with only Australia’s round in Melbourne (2037), Bahrain (2036) and the new-for-2026 Madrid event (2035) holding longer deals.

“This long-term commitment reflects the importance of the British Grand Prix to Formula 1 and their acknowledgement of our ability to deliver a world-class experience for the British fans who are among the most enthusiastic and knowledgeable in the world,” said Pringle.

“The cheers of support for the home teams, and particularly for the British drivers on the grid, makes the Silverstone atmosphere unique and I am looking forward to harnessing this passion for our sport and taking the event to the next level in the coming decade.”