Ecclestone admits British GP axe could fall

Bernie Ecclestone has confirmed that the running of next year’s British grand prix is in doubt.

Amid similar doubts over the future of another historic race, the Italian GP at Monza, Silverstone chief Patrick Allen revealed this week that because he is already a year behind in fees, he cannot "guarantee" the British grand prix will take place in 2016.

And now F1 supremo Ecclestone has admitted to Forbes: "We have got a clause in our contract where we can stop it in 2016 and I don’t know if the race is going to continue next year."

So because Silverstone is a year behind in its fees, the only way forward now is for Allen to present Ecclestone with a ’letter of credit’ from the bank.

Ecclestone told the F1 business journalist Christian Sylt: "What worries me is that as soon as the bank starts realising they have a problem it is not going to continue with the letter of credit.

"We have a letter of credit (now) but whether that is going to continue or not I don’t know," he added.