Christian Horner slams 'mismanaged' Silverstone after F1 quit-threat

On Tuesday, circuit bosses the British Racing Driver's Club (BRDC) publicly triggered their break clause, announcing losses of more than £7 million over the last two years.

The announcement coincided with an announcement from the sport that F1 would be driving around the streets of London as a means of promoting the British Grand Prix this weekend.

Horner, who has seen his team win the British Grand Prix three times, believes Silverstone 'got their maths wrong' when agreeing to when agreeing the deal to host the race.

''I am amazed that they have triggered their break clause,'' Horner said. ''Silverstone signed a contract in 2010, and they knew what they were entering into at the time.

''They have now realised that they can't afford it despite having a full house every year. They either should not have signed it in the first place or they got their maths wrong.

''Silverstone gets favourable rates anyway. It is hard to imagine they lose money putting 120,000 people in there, plus all the corporate tickets they sell during the course of a grand prix weekend.

"For me, I would question how it has been managed and the negotiations they had in the first place.''

Horner also highlighted a lot of wasted money spend at Silverstone since 2010 when the previous contract with F1 management was signed, including the new pit complex.

He added: ''From a team's perspective, we can't see any changes. They spent a fortune on the pits and they put them in the wrong place.

''They have created a paddock with zero atmosphere at one of the most historic race tracks in the UK, so there has been some serious misjudgement and mismanagement."