The absence of the public during the Grands Prix due to the coronavirus pandemic has caused severe losses in F1 and other sports in general.
To ensure the "survival" of sport, the Department for Culture, Digital, Media and Sport announced on Thursday that a package of £ 300 million in funding will be made available.
Among those who will benefit from the funding there is also motorsport, however sports such as cricket and the top four teams of football will not be part of it.
The £ 6 million reserved for motorsport will be split between MotorSport Vision which manages Brands Hatch, Donington Park, Snetterton, Oulton Park and Cadwell Park, the British Automobile Racing Club - which manages Thruxton, Croft and Pembrey - Silverstone and Goodwood.
UK Motorsport's governing body has worked together to assess the impact caused by the absence of the public at the races. It is not yet clear whether even the smaller independent venues will be part of the venues that will be eligible for funding.
During the month of July, motorsport managed to resume its course after the lifting of the restrictions on the coronavirus, the public could not participate in the events of the British Touring Car Championship.
Despite this, BARC and MSV were among those requiring a limited number of spectators to attend club meetings.
David Richards, the chairman of Motorsport UK, regarding the loan they will receive, announced: “We are extremely grateful for the news of this loan support to the circuit venues that government has offered.
“After working with DCMS throughout 2020, we recognize that their help has been pivotal in allowing motorsport to operate for much of the season, and to have mitigated the impact of the virus on the sport.
“Motorsport is an industry that employs over 40,000 people and provides some £10 billion of revenues to the economy, and at the heart of that are our fixed venue circuits.
“Their continued operation is vital for the sport to be sustainable, and in turn the entire economy that hinges on them.
“We will continue to focus on managing the impact of the crisis and do whatever we can to ensure our sport builds back better from this challenge.”
Furthermore, following the second national lockdown, all activities for the less recognized categories of motorsport have been suspended for the second time.
If these restrictions are lifted, three circuit racing events are scheduled for the month of December.
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