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Press release from Formula One Management 23 Jul 2003

The following statement regarding Silverstone was released to the press by Formula One Management Limited on Wednesday July 23, 2003.

"Silverstone's stakeholders Brands Hatch Circuits Limited, the Department of Trade and Industry (DTI), the East Midlands Development Agency (EMDA) and Formula One Management (FOM) met yesterday (Tuesday) with the Silverstone circuit owners the British Racing Drivers' Club (BRDC).

"A proposal was put forward to secure the British Grand Prix until at least 2015.The proposal did not involve BRDC raising money or taking any financial risk. Unfortunately, no progress was made with the BRDC representatives."