Richard Phillips presents the Silverstone projects to us

2014 is an important year for Silverstone as it marks the 50th Grand Prix you are hosting. Could you detail the activities planned for the fans to celebrate such an event?

« This year, we decided to switch to a full four-day format because we wanted to open access to the pitlane and have a concert on Thursday. We hosted Kaiser Chiefs on the main stage of the F1 Village. On Friday, we also organized a contest for people to come dressed in racing outfits from previous years to win spots on the grid for Sunday. We also planned parades of vintage cars over the three days to celebrate the cars that have marked our history. It went very well since we have more than fifteen cars running, and they are also visible in a static display. »

This is the first time you are opening the pitlane on Thursday while other Grand Prix have been doing it for years. Is this something special for this year, or are you considering renewing the experience in the years to come?

« No, this is clearly something we want to establish for the long term. We want the Grand Prix to last longer in order to meet the demand of several categories of people. We really want to make it a full week of events. For instance, on Wednesday we hosted a conference for businesses closely related to motorsports so they could network. The more different activities there are, the better it will be because we can attract even more people. »

So the four-day format is the one you want to adopt for the future?

In fact, we could even go up to five days. The important thing is to be interesting to people. But there are plenty of things that can be interesting to lots of different people. We pay attention to the prices we charge, but maybe introductory days at lower prices could help attract younger people to get interested in the sport. Moreover, this could encourage them to use our campsites and enjoy the overall atmosphere.

Your goal is therefore to move away from only motorsport fans and attract other types of people?

« Yes, I think it’s important that we attract new people to our sport. I think it’s not only important for us but also for the sport, for the sponsors, and therefore for the teams because the sponsors will want to invest more money in the sport. We now have a lot of great people coming in, but we need to attract young people and those with different desires and aspirations. It would be of great value to the sponsors. So, it’s very important that everyone works to offer more products to different types of people, younger than those we currently attract. »

Last year, you attracted nearly 300,000 people over the weekend. Has the fact that Lewis Hamilton, a British driver, is now competing for the title had a positive impact on your sales?

In fact, we suffered from the dominance of the Red Bull at the end of last season. After our race, Sebastian Vettel won all the races except one. This led them to their fourth consecutive title. It had a big impact on sales at that time. But it’s true that since the beginning of the season, our sales have gone much faster than we expected. So in the end, we think we can do at least as well as last year. And yesterday, we had 30,000 people for a Thursday. So in the end, we are quite satisfied.

At the beginning of the season, we heard many promoters complaining about the noise from the new cars. There was a meeting of various promoters in Spain. What is now your opinion on the noise issue?

« It’s true that we were very worried after the first race in Australia. The fans’ reaction there was very negative. So we were worried and went to Bahrain to listen to the cars with our own ears. We found that the sound of the cars was good. They are indeed less noisy, but the sound is nice. The cars’ performances were much better. So the race was better. We then communicated to our fans to let them know not to expect the same type of noise. In the end, we are not receiving the same feedback from the fans as Australia did. It seems now that the fans have accepted that this is what F1 sounds like now. The technology is the most advanced we’ve ever had. I think the British public is a good indicator of what is acceptable or not. So we will see at the end of the weekend, but we are confident. »

You announced a new commercial partnership with MEPC for the development of Silverstone Park. How important is this agreement for the future of Silverstone?

« It is very important. We had to obtain a building permit for our entire property. We are one of the very few tracks in the world that is truly independent, self-financing. So, we found the money ourselves to build The Wing (Editor’s note: the new paddock) and modify the track. We are talking about several tens of millions of pounds. It was not sustainable for us to continue servicing this debt and paying interest on this debt. So, we had to find a new partner, and we are delighted to have found MEPC. They are giving us over 32 million pounds for about 800,000 square meters. This leaves us with more than enough to do on our own. But they are good partners because they are here for the long term, and that is what we needed. »

What impact has it had on your activity as a circuit?

« In any case, we had already started diversifying some time ago. Racing as such now only accounts for 20% of the margin we generate. The other 80% comes from other activities, which are nonetheless all related to what we do as a track. But we operate worldwide, at other events. We are expanding into music, which allows us to organize music festivals. We also plan to develop our heritage and offer leisure activities. We just have to make sure we are well-coordinated with MEPC for the upcoming development plans. They are building one half and we are building the other. »

Is it a relationship of interdependence between you?

« Absolutely, because Silverstone Park cannot succeed if there is a good circuit in the middle, but we also need new businesses to come here so we can continue our development. There is a ripple effect between us, but we need to plan among ourselves for the decades to come. »

A few months ago, you raised doubts about the public funding that the circuit in Wales would receive. Have you received any responses from the British government on the matter?

« Yes, we received a letter from the Prime Minister. The problem is that Wales is a high-unemployment area. They can therefore receive subsidies while we cannot receive any. We are not worried about them building a circuit, but we are concerned that it will create unfair competition with other circuits. We all have to pay significant amounts of money to host these major events, but if public money is involved, the fees to be paid also increase. So it’s not good for the sport either. Therefore, it’s not good in the long term. »

Does this new circuit pose a significant threat to you in relation to major events like F1?

« Not really. As I said, the majority of our revenue and profitability comes from other sources. We have a very good occupancy rate, we are involved in education, we do a lot of different things. It would take them a lot of time and even more money to try to get close to what we do. We have no idea what they are going to do since they still haven’t said where the money is coming from and they haven’t started the work. So it’s an interesting situation, but we’ve been through this before with Donington. So we’ll see when there’s a concrete plan. »

From our special correspondent in Silverstone