2010 British GP to move to Donington

UPDATE The future of the British Grand Prix has today been secured in a new 10-year agreement between Donington Ventures Leisure Limited and Formula One Management Limited. The 2010 F1™ British Grand Prix at Donington Park will see the pinnacle of motor racing return to the iconic East Midlands circuit after a 17-year absence when it last hosted the Grand Prix of Europe 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 realizing the full potential of the Park by making the necessary investments in current and future events that will see Donington revitalized 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. Press Release

07/04/08 (GMM) The British grand prix will move from Silverstone to Donington Park in 2010 following the signing of a contract, F1's governing body announced on Friday.

The FIA said the announcement comes after discussions with Formula One Management, the sport's commercial rights holder run by Bernie Ecclestone.

"After many years of patient but fruitless negotiation with the BRDC, we are delighted that Bernie has nevertheless been able to ensure that the British grand prix will keep its place on the formula one world championship calendar," a media statement said.

Earlier reports that Donington, located in Leicestershire and last the host of a grand prix in 1993, was a serious contender to replace Silverstone were ridiculed, as the circuit is in even more need of redevelopment.

Mosley said on Friday: "We understand that the development program 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."

Ecclestone added: "Finally the uncertainty is over."

He said he is "sorry" that Silverstone could not raise the money to improve its circuit.

"I believe that the government should have supported them which would have cost probably less than 0.002 per cent of the government's commitment for the Olympic Games," he added.