Formula One chiefs announced on Friday that the British Grand Prix will move from Silverstone to Donington Park from 2010 onwards in a 10-year deal.
The Silverstone circuit has hosted the race every year since 1986 but after months of negotiation, Formula One chief Bernie Ecclestone cited a lack of investment in facilities as the reason for the change in venue.
He said: “Finally the uncertainty is over. A contract has been signed with Donington Park and the future of the British Grand Prix is now secure.
“We wanted a world class venue for Formula One in Britain, something that the teams and British F1 fans could be proud of. The major development plans for Donington will give us exactly that. A venue that will put British motor sport back on the map.
“I am sorry that we could not have helped Silverstone to raise the money to carry out the circuit improvements and run Formula One.
“I believe that the government should have supported them which would have cost probably less than 0.002 percent of the government’s commitment for the Olympic Games.”
The news will come as a bitter blow for Silverstone’s owners, the British Racing Driver’s Club, who had fought desperately to keep the race.
“After many years of patient but fruitless negotiation with the BRDC, we are delighted Bernie has been able to ensure the British grand prix will keep its place on the formula one world championship calendar,” said Mosley. “We understand the development programme planned for Donington will achieve the very high standards we expect from a modern F1 circuit. Finally, British formula one fans will get the grand prix venue they deserve.”
“We are naturally delighted and extremely proud to have acquired the rights to bring formula one back to Donington Park from 2010,” said Simon Gillett and Lee Gill, who lease the track from owner Tom Wheatcroft. “At the beginning of last year, when we acquired the circuit and its substantial lands, 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, ensuring its leading position as one of the most iconic racing circuits in the world.
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