DONINGTON Park will host the British Grand Prix in 2010.

The news came this morning when a 10-year deal was announced

between Donington Ventures Leisure Limited and Formula One

Management Limited.

Formula One supremo Bernie Ecclestone made the announcement

at Silverstone, which will now stage its final race next year

after being a permanent fixture since 1987.

Ecclestone, president of Formula One Management, said: “We

wanted a world class venue for Formula One in Britain,

something the teams and British F1 fans could be proud of.”

The 2010 F1 British Grand Prix at Donington Park will see

the pinnacle of motor racing return to the iconic East Midlands

circuit after a 17-year absence.

The last F1 race it hosted was the Grand Prix of Europe in

1993, won in spectacular style by Ayrton Senna.

The circuit has hosted the British Motorcycle Grand Prix

since 1987. Circuit owners and joint chief executive officers

Simon Gillett and Lee Gill said they had put together a £100m

plan to host the race and were delighted to have acquired the

rights to bring F1 back to the circuit.

They said: “At the beginning of last year when we acquired

the circuit, we made clear our commitment towards realising the

full potential of the park by making the necessary investments

in current and future events that will see Donington

revitalised as one of the most iconic racing circuits in the

world.

“To that end, we have now entered a new and exciting chapter

in the development of the park and one that will bring

significant investment and regional development while securing

the future of one of the most important and significant

sporting events in Britain.

“Donington Ventures Leisure Limited has worked closely with

the local and national authorities in consideration of the

planning requirements that are necessary to provide a

first-class facility for the hosting of F1 in 2010.

“The details of this and the Donington Park master plan that

outlines a five-year investment programme of some £100m, will

be provided at a future date.

“The investment will be led by a private investor, who is

also a large shareholder.”

The news will come as a bitter blow for the British Racing

Drivers' Club, which owns Silverstone. Ecclestone has

continually expressed unhappiness at the facilities at the

track, which in many people’s eyes is far from the worst on the

calendar.

But the 77-year-old had made it plain over the years the

circuit was in need of drastic improvement, otherwise it would

be axed.

Dr Bryan Jackson, chairman of East Midlands Development Agency,

said: “The British Grand Prix is the most significant event in

the UK motorsport calendar.

“This announcement re-affirms the world leading reputation

of the UK motorsport sector and continues a long and proud

tradition of hosting this truly international event.

“We are pleased that the grand prix will continue to benefit

the East Midlands economy, not only acting as a catalyst to

increase visitor numbers and spend, but also by helping secure

the long-term future for the sport and its related industry

throughout the region.

“With Silverstone also working on its development, we will

have two excellent facilities in the East Midlands that will

have world class appeal.”