F1: Silverstone Back On F1 Calendar

[caption id="attachment_45147" align="aligncenter" width="555" caption="Lewis Hamilton at Silverstone"][/caption]

SILVERSTONE WILL BE the home of the British Grand Prix for the next 17 years after organisers successfully reached a new agreement with Formula 1 commercial boss Bernie Ecclestone.

The circuit had initially lost the rights to host the event earlier in the year when the FIA announced Donington Park as the future home of the race.

But Donington Park’s inability to secure enough funding to complete necessary renovations ended its hopes of staging the race, leaving the F1 circus staring at the prospect of a season without a British race.

While Silverstone was reluctant to make a last ditch bid to snare the event, Ecclestone prepared a number of economic concessions for race organisers, including a reduction in the annual license fee to ensure F1’s longest running event remained.

Damon Hill, President of the British Racing Drivers' Club which owns the circuit said: “This is tremendous news. It's not easy to enter into an agreement of this magnitude. It's a big commitment.

“But the BRDC felt we wanted this relationship to continue and we were prepared to back the negotiating team, with the level of risk satisfactory for the deal to go ahead.”

[caption id="attachment_45067" align="aligncenter" width="555" caption="F1 boss Bernie Ecclestone."][/caption]

Ecclestone said he was adamant a British race would remain on the F1 calendar after the collapse of Donington’s bid.

“This will ensure the British Grand Prix is included on the Formula 1 calendar for many years to come, which is something I've always wanted,” he said.

“The team at Silverstone already know how to organise a good event and now everyone can look forward to next summer at Silverstone.”

While Silverstone has previously been criticised for its sub-standard facilities, the long term deal will allow track operators to complete an overhaul and invest in its future.

Silverstone managing director Richard Phillips said: “We've always had the belief the British Grand Prix was an important cornerstone of Formula 1 but, with Bernie, you're never quite sure. At the end of the day, though, you have to have a British Grand Prix.”