Silverstone will continue to host the British Grand Prix after a new 10-year deal was agreed with Formula 1 chiefs.
The iconic circuit's previous deal was due to expire after the 2024 edition of the race. But its future on the annual schedule has now been secured until at least 2034.
The news was announced on the official Silverstone social media accounts. A short video clip featured British drivers George Russell and Lando Norris discussing the circuit over a video call.
Last year's British GP attracted a new record attendance of 480,000 fans over the course of the race weekend. The 2024 edition of the event, officially named the Qatar Airways British Grand Prix, will take place between July 4-7.
F1 chief executive Stefano Domenicali said: "I am delighted to announce that the British Grand Prix will remain on the calendar for 10 more years with this agreement.
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"Silverstone is an iconic venue at the heart of F1 history and as it approaches its ninth decade hosting Grands Prix, the event continues to attract fans from around the world for fantastic racing on track and the amazing fan experience off it.
"I would like to thank [Silverstone chief executive] Stuart Pringle and the Silverstone team for their hard work and dedication to take the British Grand Prix to new heights and I look forward to working closely with them as they look to further improve the facilities and fan experience over the next ten years."
Silverstone will continue to host the British Grand Prix (Getty Images)British Racing Drivers' Club chairman Peter Digby added: "I am delighted we have secured a 10-year extension to host the Formula 1 British Grand Prix at Silverstone. This contractual security will provide a solid base for the further development of the venue as we continue to improve and transform the circuit into a year round international motorsport and leisure destination.
"The 2024 Formula 1 season will start with 9 BRDC Full and Honorary members on the grid and the importance of our continued support of young drivers is particularly evidenced by the success of Lewis, Lando, George and Alex."
The 2023 race was won by Max Verstappen, who was joined on the podium by British duo Norris and Lewis Hamilton. The latter is the all-time record holder for most wins at the British GP with eight - the most recent coming in 2021.
The news was welcomed by the All-Party Parliamentary Group for Motorsport. In a statement following the announcement, it said F1 and the British Grand Prix are worth around £10billion to the UK economy and expressed a desire for free-to-air coverage to once again be made available, as has been the case through Channel 4 in recent years.
Co-chair Greg Smith MP said: "Silverstone is the jewel in the crown of British motorsport, an iconic circuit loved by fans, drivers and teams the world over. It is so important to have this deal in place, securing Silverstone as the home of the British Grand Prix for a decade."
And fellow co-chair James Sunderland MP added: "This is tremendous news for F1, Silverstone, Global Britain and our world-leading motorsport industry. Tickets are sure to sell out quickly for this most iconic race in the F1 calendar. And let's hope that fans can also get to see it via free-to-air TV."
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