Formula One news
Donington pleased with F1 contract
04 July 2008Donington Park will host the British Grand Prix as of 2010. Donington Ventures Leisure Limited and Formula One Management signed a 10-year agreement to secure the British Grand prix. Donington last hosted a race back in 1993.
Circuit owners and joint CEO's, Simon Gillett and Lee Gill made the following statement: "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."
Donington Ventures Leisure Limited has worked closely with the local and national authorities in consideration of the planning requirements that are necessary to provide a first class facility for the hosting of F1 in 2010. The details of this and the Donington Park master plan that outlines a 5-year investment programme of some £100m, will be provided at a future date. The investment will be led by a private investor who is also a large shareholder.
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