Silverstone sells fast as fans flock to snap up £99 tickets

Silverstone's aggressive new ticketing policy seems to be paying dividends following its introduction yesterday, with it's first 1,000 tickets priced at £99 selling out in just 22 minutes. In all more  than 5,500 general admission tickets at the same price were snapped up as circuit bosses took the decision to extend the offer throughout yesterday.

The circuit also introduced a new ticketing policy aimed at encouraging families to throng to the circuit for the flagship event from 3rd to 5th July, with children aged 10 and under able to attend the whole weekend free of charge on a general admission ticket and race day tickets for children aged 11–15 available for £49.

The circuit's new managing director Patrick Allen believes that his goal of making Silverstone a value for money Grand Prix venue is on target.

“I am delighted by the fantastic response we’ve had to this offer and it’s great to see tickets selling out so fast," said Allen. "It is my aim to make the British Grand Prix more accessible to fans through better ticket offers which I shall continue to do through 2015 and beyond."

The circuit completed its management reshuffle earlier this month when Allen was appointed to replace outgoing MD Richard Phillips. The circuit also announced at that time that ticket sales were up 16% to that point in the wake of Lewis Hamilton's world title.

The success of the venture is obvious in terms of fan appeal - cheaper is better - but the test will be whether reduced income from grand prix ticket sales can be offset against improved income from other area of endeavour and whether there will still be enough fat to bolster the circuit against an incrementally increasing grand prix hosting fee.

Earlier this month, in announcing plans for the lower priced tickets, Allen insisted the circuit could make those ends meet.

“We have headroom in capacity, so the volume aspect will cover the inflationary aspect of the grand prix escalator,” he said, when announcing the new ticket prices. “We have other parts of the business, when the grand prix isn’t on, we can make money out of."