The race served as the 14th round of the 18-race 2004 FIA Formula One World Championship. Entering the event, Michael Schumacher led the standings by 38 points over his Ferrari teammate Rubens Barrichello, with Jenson Button in third. Only the two Ferrari drivers remained mathematically eligible for the title, as Ferrari had already secured the Constructors' Championship at the previous round.
Off-track, the event was marked by a contract dispute involving Jenson Button. Despite a successful season with BAR, Button had signed a two-year deal to return to Williams for 2005. BAR contested the move, claiming they had exercised an option to retain him. Button's management argued the option was invalid due to uncertainty regarding BAR's future engine supply from Honda.
The Circuit de Spa-Francorchamps returned to the calendar after a one-year absence in 2003. The layout featured modifications to the Bus Stop chicane, including a new sweeping right-hand bend. These changes drew criticism from pundits such as Martin Brundle, who described the resulting large area of green tarmac as being big enough to host a kart meeting.
Four practice sessions were conducted, though Saturday's first session was cancelled due to fog. Anthony Davidson set the fastest time in the first Friday session, while Kimi Räikkönen led the second. Following the fog-shortened Saturday practice, Rubens Barrichello recorded the quickest lap.
Qualifying was held in two parts. In the first session, Ricardo Zonta crashed his Toyota at Pouhon, failing to set a time. The second session began in wet conditions but dried rapidly. Jarno Trulli took pole position for Renault after switching to intermediate tyres. Michael Schumacher qualified second, while Jenson Button and Juan Pablo Montoya struggled with tyre choices as weather conditions fluctuated.
The start was marked by multiple incidents. While Jarno Trulli maintained the lead, Michael Schumacher lost positions to Fernando Alonso and David Coulthard. At La Source, Mark Webber collided with Rubens Barrichello, and Kimi Räikkönen made contact with Felipe Massa. Further contact occurred between Nick Heidfeld and Olivier Panis. As the field entered Eau Rouge, Webber and Takuma Sato collided, causing a multi-car pile-up that eliminated Sato, Webber, Gianmaria Bruni, and Giorgio Pantano. A fire on Bruni's Minardi necessitated the first of several safety car periods.
Following the restart on lap four, Räikkönen overtook Schumacher to move into fifth, then overtook Coulthard for third on lap six. Trulli led until his pit stop on lap 10, handing the lead to Alonso. On lap 12, Alonso suffered an oil leak and spun twice at Les Combes, losing the lead to Räikkönen; he managed to rejoin but spun again at Rivage and could not continue. After a series of pit stops and a rear tyre de-lamination for Coulthard, Räikkönen led from Button and Trulli.
On lap 20, Juan Pablo Montoya collided with Trulli while attempting an overtake, causing Trulli to spin and lose positions. Later, on lap 31, Jenson Button suffered a high-speed right rear tyre de-lamination at approximately 205 mph (330 km/h). The resulting loss of control caused him to crash into the Minardi of Zsolt Baumgartner, triggering a second safety car. During this period, Antônio Pizzonia retired with a gearbox failure.
A third safety car was deployed on lap 38 following contact between David Coulthard and Christian Klien, which left debris on the track. When the race resumed at the end of lap 41, Ricardo Zonta, who had climbed from the back of the grid to fourth, suffered a spectacular engine failure.
Kimi Räikkönen maintained his lead through the final laps to win. Michael Schumacher followed in second, clinching the World Championship, with Barrichello finishing third. Christian Klien scored his first career points, while Olivier Panis and the Jaguar team recorded their final points-scoring finishes.
The race result confirmed Michael Schumacher as the 2004 World Champion with four races remaining in the season. It also stood as the only win of the year for McLaren-Mercedes.
Following the race, a pre-season wager was fulfilled by Daily Express editor Bob McKenzie. Having pledged to run naked around Silverstone if McLaren won a race in 2004, the Daily Express editor completed the run during the 2005 British Grand Prix weekend.
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