Formula One news

'We are very close' - Hill on Silverstone

Damon Hill, 1996 World Champion and Chairman of the British Racing Drivers' Club (BRDC), is confident that Silverstone is closer to securing a deal for the future of the British Grand Prix. The event's fate is currently in limbo after Donington Park failured to meet its final deadline earlier this week.

With Leiscestershire's Donington now out of the running, Silverstone is the only possible venue of the race next July. "We are very close," Hill told the BBC with regards to finalising a deal with Formula One commercial rights holder Bernie Ecclestone. "It comes down to a little bit of give on the negotiation and I think we're there.

Richard Phillips, Managing Director of Silverstone Holdings - operators of the venue - stresses that efforts are at 100 percent. "We are doing everything we can to get the Grand Prix," he said. "It has been non-stop. We're getting a lot closer and we are hopeful. We have to try to secure this for the UK."

Phillips also added that the 17-year deal which had been written out for Donington would suit Silverstone far better than recent contracts: "These five-year deals we've had in the past are no good. We need a longer term deal - that is key to securing the investment we need in the circuit. We're not there yet but we're optimistic we will be."

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