Map of Silverstone circuit.

Tickets to the British Grand Prix at Silverstone are likely to double in price as a result of the deal the circuit agreed this month to guarantee the race a place on Formula 1’s calendar until 2026, the Daily Telegraph reports.

Silverstone agreed to pay an estimated £12 million annually to host the British GP with the fee set to escalate by five per cent per year rather than the 10 per cent which is the norm.

According to research by F1’s industry monitor Formula Money, the cheapest tickets to the British GP, which cost £125 this year, will rise 22.5 per cent to just over £150 by 2014.

Ten years into the contract, the cheapest seats are set to cost 50% more than they do now and by 2026 the research shows that their price will have doubled to £249. By then, the price of the most expensive seats is expected to have increased to £530 and the average ticket will cost £425.

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