Donington Park to host 2010 British GP
Friday, 04 Jul 2008 12:30
Donington Park will take over from Silverstone as the British F1 Grand Prix host circuit
The Formula One British Grand Prix will be hosted by the Donington Park circuit from 2010 onwards, it has been announced.
The east Midlands track will take over from Silverstone in two years' time following an agreement on a new ten-year licence to keep a Grand Prix race in the UK.
It had been feared that Britain would lose its place on the F1 calendar because of the increasingly outdated facilities at Silverstone.
F1 supremo Bernie Ecclestone had cast doubt over the venue's ability to host the pinnacle of motorsport, especially with a number of other nations vying for a spot on the schedule.
However, an agreement has been reached between Donington Ventures Leisure, the owners of the circuit, and Formula One Management that will see an F1 race take place at Donington for the first time since it hosted the European Grand Prix in 1993.
Circuit owners and joint chief executives Simon Gillett and Lee Gill said: "We are naturally delighted and extremely proud to have acquired the rights to bring Formula One back to Donington Park from 2010.
"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.
"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."
The owners said they would embark upon a five-year investment programme to further modernise the venue at a cost of £100 million, which would be led by an as-yet unnamed investor.
Further details of the agreement are expected by early next week.