Formula One news

Silverstone waits as Donington deadline passes

12 noon GMT on Monday marked the deadline for Donington Park to have found sufficient financial backing in order to host the British Grand Prix next season. With a bond issue of £135m having failed, the venue now looks likely to lose the event, with Silverstone being the only alternative.

Having already lost its MotoGP race, the situation is grim at Donington

Although F1 commercial rights holder Bernie Ecclestone has said that a British Grand Prix would take place next year - at Silverstone in the event of Donington not being able to host the race - the supremo has since commented that the sport is not in desperate need of a British Grand Prix.

"We sincerely hope there is going to be a British Grand Prix and we're doing everything we can to provide the right conditions," Damon Hill, 1996 World Champion and Chairman of the British Racing Drivers' Club (BRDC) - owners of Silverstone - told the BBC. "We would very much like it to be at Silverstone.

"We would be looking for more than just a stop-gap deal. There is competition out there to provide a venue but we feel Silverstone is the right place."

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