Donington Park reveals future plans
by Niamh O'Mahony, 04 July 2008
A five-year investment programme worth £100 million was key to securing the British Grand Prix for Donington Park, it has emerged.
The financing for the project will "be led by a private investor, who is also a large shareholder" according to a statement from the track, whose joint CEOs have since revealed their ecstasy following Friday's announcement.
"We are naturally delighted and extremely proud to have acquired the rights to bring Formula 1 back to Donington Park from 2010," a statement from Simon Gillett and Lee Gill read.
"At the beginning of last year when we acquired the circuit and its substantial lands, we made clear our commitment towards realising the full potential of the Park by making the necessary investments in current and future events that will see Donington revitalised 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."
The master plan will be unveiled at a future date.
Silverstone bosses, meanwhile, were understandably dismayed by the news.
"Silverstone Circuits Limited and the British Racing Drivers' Club [BRDC] would like to express our disappointment at the announcement released by the FIA today concerning the future of the British Grand Prix," read a statement.
"It is particularly disappointing to receive this information during the course of the British Grand Prix weekend, while we are celebrating 60 years of Silverstone and 80 years of the BRDC.
"The BRDC and Silverstone Circuits Limited are considering our position following in-depth and on-going contract negotiations with FOM. We shall release a statement once the full facts of this announcement have been established with both FOM and the FIA.
"The incredible staff here at Silverstone will continue to make this year's sell-out event a resounding success for the fans."