A new year and a new report that the British Grand Prix is under threat. It seems as if this is a topic that is rehashed every year, this year's report centering around the high costs involved in hosting the event with organizers saying that the race is becoming ‘financially unfeasible.'

While these comments seem to be emerging on a regular basis, it is worth remembering that the Silverstone venue has a contract to host the British Grand Prix until 2026, even the breakaway clause written in to it won't come into effect until after the 2019 event.

However, F1 Supremo Bernie Ecclestone was quick to give his opinion, stating that if they exercise the beak out clause, he has several other venues waiting in the wings to take their place…

“If they want to activate a break clause, there is nothing we can do,” he was quoted as saying. “Two other tracks have contacted us and we are keen to keep a British Grand Prix, there is no doubt about it, we want to have one. As far as Silverstone is concerned, it's not in our hands.”

Three time World Champion Sir Jackie Stewart told local television network, ITV, that the financial threat is a credible one and it would be a shame if Silverstone was unable to continue hosting the event…

“You talk to anyone anywhere and say Silverstone and they think Formula One – so to lose it would be a terrible thing for this country. Silverstone is in the middle of country. It's in the right place. There's no other race track that would be able to host the British Grand Prix. I think it's a credible threat and not impossible for it to happen.”

Silverstone hosts multiple Motorsports events all year, including the Moto GP and it is only Formula One that comes under threat year after year as they try to minimize costs that are not helped in anyway by the government like they are for Australia's Albert Park venue in Melbourne.