Formula 1 news

Government speaks out over British GP

29 April 2009

The British government and Peter Mandelson have spoken over the matter concerning the country's Grand Prix. Due to leave Silverstone after this year, Donington Park is scheduled to be hosting the race for a decade from 2010 although, with financial worries raised, the government is now calling for a possible return to Silverstone.

With Donington Park's owners, the Wheatcroft family, calling for debts in the region of two and a half million pounds to be paid off by the circuit leaseholder, organisers may not be able to find the funds to finish development of the project on time. Donington Ventures, headed by Simon Gillett, is in the process of redeveloping the venue for the 2010 season although F1 supremo and commercial rights holder Bernie Ecclestone has encouraged the government to input a 'fraction' of the sum behind 2012's summer Olympic games in order to assist.

A plan by Secretary of State for Business, Lord Mandelson, is understood to propose to Ecclestone the extension of the deal to 17 years, The Telegraph reports, which also explained how the sport is worth an approximate £7 billion annual boost to Britain's economy. The issue was discussed in the House of Lords last week, with the Labour party looking to request that the race remains at Silverstone in the event of Donington's deal falling through.

The situation could result in a large challenge for the government, however, as Ecclestone's frosty relationship with Silverstone's owners the British Racing Drivers' Club (BRDC) has resulted in several threats to remove the race from the calendar in recent years, as the Northamptonshire venue is accused of not being up-to-date in comparison with modern race tracks such as Shanghai and Bahrain.

"The shareholders have made a commitment to this project, and we will make further details available shortly," a spokeswoman said for Donington Ventures.

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