There will be no British Grand Prix at Silverstone next year as the BRDC and Formula One Management have been unable to reach a financial agreement for the event.

Sir Jackie Stewart in a Radio 5 live interview said:

“Clearly the BRDC are very disappointed as we have been in discussion with Ecclestone and FOM,  Frankly the economics at this level are uneconomic and we have gone as far as we can to try to sustain the Grand Prix in this country. It is a real disaster that this has happened.

“Unlike any other governments, our government has made the decision they do not wish to do that.

“He wants money from us that we simply cannot afford. The BRDC cannot afford the British Grand Prix at any price. We believe the government should be involved in this as here we have the biggest sporting event in the country. At the moment the calendar is not going to include the British Grand Prix in 2005.”