The British Grand Prix has been saved - but its new home is to be Donington Park from 2010 and not Silverstone.
End of the road for Silverstone
The British Grand Prix has been saved - but its new home is to be Donington Park from 2010 and not Silverstone.
Formula One supremo Bernie Ecclestone announced that the Northamptonshire circuit will now stage its final race next year after being a permanent fixture since 1987.
Silverstone, which played host to the inaugural race of the F1 World Championship back in 1950, has come under fire in recent years after issues have been raised with parking, pits and outdated facilities.
Owners and race promoters the British Racing Drivers Club tried to resolve these issues. However, longtime Silverstone critic Ecclestone has now announced the switch.
"Finally the uncertainty is over," he said. "A contract has been signed with Donington Park and the future of the British Grand prix is now secure.
"We wanted a world-class venue for Formula One in Britain, something that the teams and British F1 fans could be proud of.
"The major development plans for Donington will give us exactly that. A venue that will put British motor sport back on the map.
"I am sorry that we could not have helped Silverstone to raise the money to carry out the circuit improvements and run Formula One.
"I believe that the government should have supported them which would have cost probably less than .002% of the government's commitment for the Olympic Games."
FIA president Max Mosley added: "After many years of patient but fruitless negotiation with the BRDC, we are delighted that Bernie has nevertheless been able to ensure that the British Grand Prix will keep its place on the Formula One World Championship calendar.
"We understand that the development programme planned for Donington will achieve the very high standards we and FOM expect from a modern F1 circuit.
"Finally, British Formula One fans will get the Grand Prix venue they deserve."
Disappointment
The present hosts of the race later said: "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.
"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."
"Anything which indicates a secure future for the British Grand Prix must be welcomed," added BRDC president and 1996 F1 champion Damon Hill in a statement.
"Nevertheless, the timing of this announcement is disappointing and a blow to the excellent and hard working staff of Silverstone."
Donington Park's only previous experience of hosting a round of the F1 World Championship came in 1993 when Ayrton Senna won the European GP.
Its owners have
promised investment of £100 million spread over five years in order to bring the East Midlands track and its facilities in line with those now required by Formula One.
However, fans with a cynical streak may recall a similar announcement made back in 1999, when Ecclestone struck a deal with then-Brands Hatch owner Nicola Foulston for the British GP to move to the Kent circuit from 2002.
The race ultimately stayed at Silverstone after Foulston sold her business to marketing group Octagon.
They then agreed a long-term lease with the BRDC when it became apparent that Brands Hatch - which last hosted the race in 1986 - could not meet its commitment.
