Silverstone deal agreed until 2024!

The famous track hosts this weekend's race and it is one of the most historic race venues in the world, hosting the third most F1 Grands Prix.

A few days ago, we told you why F1 has to save the British Grand Prix, and it seems they listened to us, as the Northamptonshire track will host races for the next 5 years!

Silverstone hosted the very first F1 race, back in 1950, won by Alfa Romeo's Giuseppe Farina. Three drivers have won the race five times, with Lewis Hamilton looking to break away from Jim Clark and Alain Prost this weekend.

Chase Carey announced the deal in a press conference on Wednesday, just days before the race weekend begins at the historic venue.

The CEO of F1 said: "We have always said that, if it is to have a long-term future, our sport must preserve its historic venues and Silverstone and Great Britain represent the cradle of this sport, its starting point back in 1950."

Chairman of the British Racing Drivers' Club, (BRDC) John Grant added: "Silverstone is one of the most iconic Grands Prix on the F1 calendar and with such a rich heritage it would have been disastrous for the sport and fans had we not managed to find a way forward."