Adapted from GMM
The operators and owners of the Silverstone circuit on Monday jointly revealed that an agreement to host the next 17 British grands prix has been reached.
The British Grand Prix will stay at the Silverstone circuit after the Northamptonshire track reached a deal with Bernie Ecclestone after weeks of negotiations.
Ecclestone had signed a 17-year deal with Donington Park last year but Donington failed to raise the funds to carry out a redevelopment project and so Ecclestone began talks with Silverstone.
The news was announced on Monday morning from London's Grosvenor House Hotel, following a long period of uncertainty.
Part of the deal will be the redevelopment of the Northamptonshire facility's ageing pit and paddock facilities.
"We've always had five year deals and never been able to get the investment we needed to redevelop," said managing director Richard Phillips.
"Seventeen years gives us the ability to invest and move forward."
photo:WRI2
The operators and owners of the Silverstone circuit on Monday jointly revealed that an agreement to host the next 17 British grands prix has been reached.
The British Grand Prix will stay at the Silverstone circuit after the Northamptonshire track reached a deal with Bernie Ecclestone after weeks of negotiations.
Ecclestone had signed a 17-year deal with Donington Park last year but Donington failed to raise the funds to carry out a redevelopment project and so Ecclestone began talks with Silverstone.
The news was announced on Monday morning from London's Grosvenor House Hotel, following a long period of uncertainty.
Part of the deal will be the redevelopment of the Northamptonshire facility's ageing pit and paddock facilities.
"We've always had five year deals and never been able to get the investment we needed to redevelop," said managing director Richard Phillips.
"Seventeen years gives us the ability to invest and move forward."
photo:WRI2