Silverstone To Reveal Outcome Of F1 Talks

Silverstone officials are set to reveal the outcome of negotiations over a deal for the venue to host next year’s British F1 Grand Prix.

Silverstone has been the front-runner to stage the race from 2010 after Donington Park lost the rights.

Silverstone Holdings’ managing director Richard Phillips said last month that a deal to host the race was imminent.

F1 chief Bernie Ecclestone had imposed a 9th December deadline for a deal to be put in place else the British GP would lose its place on the F1 calendar.

Phillips said last month that he was ‘pretty confident’ the deal would be struck and that he did not envisage ‘any stumbling blocks’.

He added that he hoped the contract would see Silverstone host the British Grand Prix for at least 10 years.

Silverstone has hosted every British Grand Prix since 1987, while Donington, which is synonymous with MotoGP, has held only one F1 race, the European Grand Prix in 1993.

Donington was awarded a contract to host the race from 2010, but was seemingly ruled out of hosting the British Grand Prix after failing to show it had the necessary £135m funding required to fund redevelopment plans.

Donington Ventures Leisure Limited (DVLL) is now in administration.

Phillips has revealed that Silverstone had been planning for the Grand Prix even while Donington was lined up as the venue for the 2010 race.

However, Silverstone has already been warned that it also needs to modernise its facilities in order to secure the race.