 Stewart Plays Down London Bid Friday July 9th, 2004 By Will Gray
Stewart, the president of Silverstone owners BRDC, criticised Ecclestone for his stranglehold on the sport and insisted any bid to move the British Grand Prix to the capital would not be financially viable. Eight of the ten Grand Prix teams took part in a spectacular parade along Regent Street that attracted massive crowds but Stewart believes Silverstone will always be home to the British race as long as there continues to be one. "It's great they had the event and it created a lot of interest," said Stewart. "But if they were seriously thinking of having a Grand Prix they would have to look at the economics with big, big, big magnification. "There's the environmental factor, the residential factor, the congestion factor and the tax payers' money. There's so many different things. Given the economics of it, I don't think Ken Livingstone has read the contract yet. "It's too early to say whether the London idea is pie in the sky, but I'm glad they are enthusiastic and it would be great to have two Grands Prix in this country. There's no reason why we can't do it here." Scot David Coulthard and England's Jenson Button backed a bid for a London event, which has allegedly been tabled by Livingstone, but both suggested it should not be a replacement for Silverstone. The Northamptonshire track is under threat because of ageing facilities and the lack of a promoter for the event from next year. Ecclestone has given the BRDC a deadline of September 30 to find a solution. Stewart said they are in discussions with one promoter and added: "We have to make sure we've the next two years covered and then we have the chance to develop something very big at Silverstone, which is the future. Bernie has given us a commitment and an assurance for the next two years, as he has also given to the British Government, and we are now negotiating with a promoter to run it for the next two years. "In the longer term we have to find some way of getting a promoter to do it that can financially stay alive - but the deal is so extraordinarily one sided that it is very difficult for anybody. We will not be the promoters because we cannot afford to lose the money. "This year this Grand Prix will lose between four and six million pounds and that's far too big for our club and members to sustain. We have to structure something that allows somebody to economically afford it and clearly nobody in the world can at the present time. Not one single Grand Prix in the world makes money, which is wrong." Stewart insisted that any plans for a London Grand Prix would ultimately struggle to receive government support because Silverstone now has their full backing to create a centre of excellence for the industry. Two Formula One teams - Jordan and BAR - are based within 10 miles of the circuit and former racer and ex-Jaguar boss Stewart has long been a campaigner for the creation of a motorsport hub at the track. "It is possible if there was a London Grand Prix then there might not be a Silverstone but the Government are involved and they want a centre for excellence here for the British motor sports industry," he insisted. "We can't continue to develop the grassroots and a British motor sports industry with a Grand Prix around Hyde Park - you have to have an area like the 875 acres of Silverstone real estate. Whether it's new factories, technical centres involving cars or motor cycles, or whether its hotels or even casinos, you bring them all in and have a 365-day operation."
Published at 12:40:42 GMT
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Sir Jackie Stewart on Friday warned London mayor Ken Livingstone to be wary of negotiations with Formula One supremo Bernie Ecclestone as he tore up suggestions that a London Grand Prix could replace the race at Silverstone.
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