Related News
Home » Sports » Motor Racing
Silverstone to announce British GP deal - reports
Source: Agencies |
December 7, 2009, Monday
|
Online Edition
Online Edition
SILVERSTONE circuit's owners have secured the future of the British Grand Prix after agreeing a deal with Formula One supremo Bernie Ecclestone, newspapers reported today.
The Times website (www.timesonline.co.uk) said Ecclestone had agreed to forego fees amounting to 60 million pounds (US$99.50 million) over a 17-year period as part of a 310 million pound deal with Silverstone to save the race.
It said the deal included a five percent annual escalator clause, instead of the seven percent that Ecclestone reportedly demanded initially, with a break clause after 10 years.
"It has been a long and tiring nonsense," Ecclestone was quoted as saying. "They (Silverstone) could have done this whole thing months and months ago."
The British Racing Drivers' Club, who own Silverstone, has scheduled a news conference with president and 1996 champion Damon Hill for Monday to clarify the future of the grand prix and said last week it will not make any comment until then.
The Guardian agreed the race was safe but suggested it could only be for a five-year period with Silverstone paying around 14 million pounds in 2010 with a seven percent annual escalator.
Silverstone, a former World War Two airfield, hosted the first championship grand prix in 1950 but appeared to have lost out after Ecclestone agreed a 17-year deal with Donington Park from 2010.
That plan fell apart when Donington Ventures Leisure Ltd, now in administration, failed to raise the money needed to develop the facilities.
The final 2010 calendar, with a record-equalling 19 races provisionally listed, is due to be finalised on Wednesday and published on Friday.
Britain is home to a majority of the 13 teams while the country has also provided the last two world champions in Jenson Button and Lewis Hamilton.
Next year's British race is due to be held on July 11, the same day as the World Cup final in South Africa.
The Times website (www.timesonline.co.uk) said Ecclestone had agreed to forego fees amounting to 60 million pounds (US$99.50 million) over a 17-year period as part of a 310 million pound deal with Silverstone to save the race.
It said the deal included a five percent annual escalator clause, instead of the seven percent that Ecclestone reportedly demanded initially, with a break clause after 10 years.
"It has been a long and tiring nonsense," Ecclestone was quoted as saying. "They (Silverstone) could have done this whole thing months and months ago."
The British Racing Drivers' Club, who own Silverstone, has scheduled a news conference with president and 1996 champion Damon Hill for Monday to clarify the future of the grand prix and said last week it will not make any comment until then.
The Guardian agreed the race was safe but suggested it could only be for a five-year period with Silverstone paying around 14 million pounds in 2010 with a seven percent annual escalator.
Silverstone, a former World War Two airfield, hosted the first championship grand prix in 1950 but appeared to have lost out after Ecclestone agreed a 17-year deal with Donington Park from 2010.
That plan fell apart when Donington Ventures Leisure Ltd, now in administration, failed to raise the money needed to develop the facilities.
The final 2010 calendar, with a record-equalling 19 races provisionally listed, is due to be finalised on Wednesday and published on Friday.
Britain is home to a majority of the 13 teams while the country has also provided the last two world champions in Jenson Button and Lewis Hamilton.
Next year's British race is due to be held on July 11, the same day as the World Cup final in South Africa.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
