The British F1 Grand Prix will move from Silverstone to Donington Park from 2010 after the latter venue agreed a 10-year deal with the sport’s supremo Bernie Ecclestone.
The race’s traditional home is owned by the British Racing Drivers’ Club, who had been in talks with F1 boss Bernie Ecclestone to secure a new deal which has now been scuppered.
Said Ecclestone: ‘We wanted a world class venue for F1 in Britain, something that the teams and fans could be proud of. Donington’s development plans will give us exactly that, a venue to put British motorsport back on the map.’
Ecclestone said he was disappointed that the government had not intervened to help Silverstone retain the race.
‘I am sorry that we could not have helped Silverstone to raise the money to carry out the circuit improvements and run F1. I believe that the government should have supported them which would have cost probably less than .002% of the government’s commitment for the Olympic Games.’
Max Mosley, the president of international motorsport’s governing body the FIA, said he was glad that the future of the race had been secured.
‘After many years of patient but fruitless negotiation with the BRDC, we are delighted that Bernie has nevertheless been able to ensure that the British Grand Prix will keep its place on the F1 calendar.
‘We understand that the development programme planned for Donington will achieve the very high standards we expect from a modern F1 circuit. Finally, British fans will get the venue they deserve.’
Details of the five-year, £100m investment programme for the Donington Park circuit would be made public at a later date.
It will need a huge overhaul to come up to F1’s standards. The track will need lengthening, and while Silverstone’s facilities have been consistently criticised by Ecclestone, Donington’s are currently nowhere near the standard of those at the Northamptonshire track.
Many more millions will need to be spent at Donington to bring its facilities up to F1’s standards than would have been needed at Silverstone.
The track, whcih also hosts MotoGP’s British Grand Prix is located close to East Midlands airport, and about two miles from the M1 motorway, but access to the venue remains a problem.