FIA statement below:

Following discussions with Formula One Management, the FIA can confirm that the British Grand Prix will be retained on the Formula One World Championship calendar. From 2010 the new home of the British Grand Prix will be Donington Park.

Max Mosley, FIA President said, “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.”

Bernie Ecclestone, FOM President said, “Finally the uncertainty is over. 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.”

Donington Statement below:

Circuit owners and joint CEO’s, Simon Gillett and Lee Gill made the following statement:

“We are naturally delighted and extremely proud to have acquired the rights to bring Formula One back to Donington Park from 2010. 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.

Donington Ventures Leisure Limited has worked closely with the local and national authorities in consideration of the planning requirements that are necessary to provide a first class facility for the hosting of F1 in 2010. The details of this and the Donington Park master plan that outlines a 5 year investment programme of some £100m, will be provided at a future date.

The investment will be led by a private investor who is also a large shareholder.