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Friday, July 04, 2008, 12:12
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.”
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