Lewis Hamilton says Formula One’s British Grand Prix is ‘the most important race of the year’

Lewis Hamilton has heaped pressure on Formula One’s new owners by declaring the British Grand Prix as "the most important race of the year."

The future of the race beyond 2019 is in serious doubt, with both the British Racing Drivers’ Club, which owns Silverstone, and the circuit organisers, determining whether to activate a break-out clause.

American company Liberty Media took over the sport in January and has staged talks with both the BRDC and Silverstone over its uncertain future.

But it is understood that Silverstone, which agreed a 17-year contract back in 2010, could give notice of its intent to exit the current deal in the hope of brokering a more financially-viable contract. Its decision is likely to be announced in the week leading up to this year’s British Grand Prix on July 16.

Such a decision would place a heavy burden on F1’s new owners, who would not want to risk losing an event - an ever-present in the sport for nearly 70 years - during the formative months of their reign.

Englishman Hamilton has won at Silverstone on four occasions, with a near sell-out 140,000-strong crowd watching him storm to victory last season.

"It’s the most important race of the year," Hamilton, 32, said. "In terms of what the points represent it’s the same as every race, but just being in the beautiful countryside, and the support you get from the British fans, it’s an amazing event that people love to come to.

"It’s that important part of the British racing heritage and it’s the place where we really get to showcase it. The UK is the home of motorsport and we’ve got such great and incredible heritage."

Silverstone agreed a long-term contract with the sport’s former supremo Bernie Ecclestone to continue its association with the British Grand Prix seven years ago.

But the demands of the hosting fee which goes up by five per cent every year - from £12million in 2010, to £17million this season and £26million in 2026 - is crippling the circuit.

While Silverstone wants to continue its relationship with Formula One, it will not do so at the cost of financial ruin. The Northamptonshire circuit, unlike many other tracks on the F1 calendar, receives no government backing.

Sean Bratches, F1’s new commercial head, claimed at the recent Canadian Grand Prix that talks with both the BRDC and Silverstone are on-going.

But Press Association Sport understands Bratches has declined a number of invitations to visit Silverstone in recent months. The American however, did attend Williams’ 40th anniversary celebrations at the track earlier in June.

F1’s American chairman Chase Carey has never watched a Formula One race at Silverstone, and circuit bosses are hopeful that both Carey and Bratches will be struck by the passion and emotion of the UK’s enormous F1 fan base next month.

Meanwhile, an F1 demo will be staged on the streets of London ahead of this year’s Silverstone race.

Although plans are yet to be formally confirmed, Britain’s triple world champion Hamilton will lead the sport’s stars on the streets of Westminster on July 12.

The London demonstration, the first of its kind in more than a decade, will renew hope that a grand prix could be staged in the country’s capital.

"I hope in the future there is a London Grand Prix," Hamilton added. "I feel like we need two British Grands Prix, and even though London is already massive on the map for being a pretty small place, that would be awesome."