Silverstone signs new 17-year deal to host the British Grand Prix

The circuit, based in Northamptonshire in England, reached a deal with F1 chief Bernie Ecclestone to host the British Grand Prix for 17 years starting from next season. The British Grand Prix was originally scheduled to be held at Donington Park from next season, but Donington failed to raise funds for redevelopment, and the deal fell through. The British Grand Prix will be held on 11 July next year, while the circuit will also host a MotoGP event next season.

"This is tremendous news," said 1996 Formula 1 champion Damon Hill, who is president of the British Racing Drivers' Club that owns Silverstone. "The title of Silverstone as home of motorsport has come true. It is a place for all motorsport. Everyone in the BRDC loves motorsport and we are looking forward to the MotoGP as well as the British Grand Prix. It is not easy to enter into a contract of this magnitude and you have to take on a lot of responsibility, but the BRDC wanted this relationship to continue. Everyone was well aware that the British GP is not just a sporting event, but it is dynamo of the industry in this country. Losing it would have been damaging and perhaps there would have been no coming back."

F1 chief Bernie Ecclestone welcomed the deal, adding, "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. The team at Silverstone already know how to organise a good event and now everyone can look forward to next summer at Silverstone."