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Media Statement - the British Grand Prix 06 Jul 2004

We wish to correct and clarify public comments made today by Mr Alexander Hooton of the British Racing Drivers Club suggesting that we have "publicly agreed that the British Grand Prix is secure for 2005 and 2006". This is not correct.

Our position has been clear and consistent throughout recent discussions with the BRDC and others, namely that Formula One Administration Limited is prepared to enter into an agreement with either the BRDC or another suitable promoter for the staging of a British round of the FIA Formula One World Championship in the years 2005 and 2006 on commercial terms matching those in place for rounds of the Championship held in Germany. This remains our position, although as yet neither the BRDC nor any other person has stepped up to accept this offer. Such an agreement would need to be in place no later than 30 September 2004.

Formula One Management Limited