British Grand Prix at Donington Park from 2010 04 Jul 2008
Following discussions with Formula One Management, the FIA has confirmed that the British Grand Prix will be retained on the Formula One World Championship calendar, moving from Silverstone to its new home of Donington Park from 2010.
FIA President Max Mosley said, After many years of patient but fruitless negotiation with (Silverstone owners) the BRDC (British Racing Drivers' Club), we are delighted that Bernie (Ecclestone) has nevertheless been able to ensure that the British Grand Prix will keep its place on the Formula One World Championship calendar.
We understand that the development programme planned for Donington will achieve the very high standards we and FOM expect from a modern F1 circuit. Finally, British Formula One fans will get the Grand Prix venue they deserve.
FOM President Bernie Ecclestone 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 .002% of the governments commitment for the Olympic Games.
Donington Park last staged a round of the FIA Formula One World Championship in 1993, when Ayrton Senna took arguably his most famous wet-weather victory in the European Grand Prix. On the back of their new 10-year agreement, the East Midlands circuit is planning a five-year, £100 million development programme to ensure a first-class facility is in place for the 2010 race.
In a joint statement, Donington Park owners and joint CEOs 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 funding for the Donington Park development will be led by a private investor who is also a large shareholder. Exact details of the venues plans will be released at a later date.