Motorsports PR professional, broadcaster, and former race team manager Tony Jardine says Silverstone is ready to step in to host the British Grand Prix, should Donington Park’s current problems prove fatal to its hosting ambitions. Although Silverstone could not meet Formula One’s tough financial demands – largely due to the British GP’s position as the only privately funded F1 event – Jardine argues that the circuit’s finances are strong and that its heritage improves the sport.

Jardine is MD of Jardine International, a sports PR firm whose clients include Sony PlayStation, Bridgestone, BMW Motorrad, Silverstone and Sheffield United Football Club.The moment Donington Park race circuit signed a 10-year deal to host the British Formula One Grand Prix, Silverstone’s owners – the British Racing Drivers’ Club (BRDC) – breathed a sigh of relief that at least the British Grand Prix had been saved.For Silverstone, there was obviously disappointment.  The truth is that the circuit was close to agreeing a new contract, but was prevented from doing so by the limits of its own funds. The British Grand Prix is now the only privately-funded event on the F1 calendar. The circuit has to carefully balance its investments against revenue streams, and when it comes to a Formula One contract, the circuit’s only revenue is from ticket sales.Following the Donington deal, BRDC President, Damon Hill, quickly declared Silverstone the “insurance policy” for the British Grand Prix – the circuit would be ready to step-in, should Donington not work out.This now seems more and more likely. If Simon Gillett (chief executive of the Donington operator, Donington Ventures Leisure Limited) finds another investor, or Bernie Ecclestone becomes the promoter himself, the British Grand Prix at Donington could still become a reality, but they face a near impossible task to be ready for 2010.As a former director of the BRDC I am passionate, but objective, about the ability of Silverstone to regain the British Grand Prix.During negotiations between the BRDC and FOM, Bernie Ecclestone was helpful in trying to find ways to make up Silverstone’s revenue shortfall.  Ultimately, however, he was upset that there was no government investment to secure this prestigious event.As confirmed by Lord Davies during a recent debate in the House of Lords, this is not going to happen, although government has suggested that there could be support at a local level.  It should not be forgotten that government support in the past helped develop the roads around Silverstone, making it one of the most accessible F1 venues in the world.Bernie is right that “we [Britain], just don’t make the effort”, but this is only in comparison to striking new venues such as Abu Dhabi, with their multi-million pound government-funded approach. Bernie is pushing standards ever higher – which is correct – but I feel there has to be a sliding scale to incorporate long-standing Grands Prix.Grands Prix such as at Silverstone, where they have planning permission to make changes and where they can raise the funds to develop the venue, but need the guarantee of a Grand Prix contract to make commitments.There is hope that classic races such as the British Grand Prix will be protected in the new Concord agreement (the charter being drawn up by F1 teams and governing bodies). New events are welcomed, but a mixture, which includes established venues such as Silverstone, offers a variety of challenges and keeps the fabric of the sport intact.

source - sportbusiness.com