With Donington yet to raise the £80million needed to improve its facilities, Silverstone’s directors see a golden opportunity.
In a plan said to be spearheaded by former F1 driver Jackie Oliver, the directors wrote to members asking them to vote at a meeting on August 25 on a plan to get Silverstone “capable of hosting Grands Prix should the opportunity arise”.
The letter does not say who the talks are with but a source said it was an Arab wealth fund.
John Fitzpatrick, former director, says fury has erupted because, although members want an independent operator to run the circuit, they “will not stand by and let the directors ask them to sign away their rights” to a say in Silverstone’s future.
“Jackie says this lease has got to be for about 150 years and anyone who takes over is going to have to invest £60million or £70million.”
His words were: “Only a sovereign wealth fund could afford to do this.” Daily Express
F1 chief executive Bernie Ecclestone recently stated that if Donington failed to be ready for next year’s Grand Prix, the event will simply remain at Silverstone for an extra year. However, Silverstone’s Managing Director Richard Phillips has raised a warning sign.
He pointed that Silverstone must know in the near future if it will need to prepare its facilities or not for next year’s race.
He also revealed that Silverstone had contacted Donington Park management in order to work out a ‘Plan B’, however the response indicated little interest in doing so.
Phillips believes Bernie Ecclestone will have to soon sit down and determine which venue will host the 2010 Grand Prix and act accordingly, or neither track will be ready and the F1 circus will have to forego the British round.Yahoo Sport
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