British Grand Prix to Continue in Formula One

It was a foregone conclusion. The 2009 British Grand Prix was supposed to be the last Formula 1 race at Silverstone, at least for a while. But things have turned around for the better. In a path-breaking deal, Silverstone will continue to hold the Formula 1 races as always, for the next 17 years at least. This deal was struck between the owners of Silverstone and the chief of Formula 1, Bernie Ecclestone. This just meant that the oldest venue in the Formula One circuit kept its place in the racing calendar.

Silverstone managing director Richard Phillips went on to say, "We've always had five-year deals and never been able to get the investment we needed to redevelop. But 17 years gives us the ability to invest and move forward. We've always had the belief the British Grand Prix was an important cornerstone of Formula 1, but, with Bernie, you're never quite sure. The relationship with Formula One Management has been improving. There's a good working relationship with him now and we don't have any issues." He said the deal was like 'peace in our time' between the circuit's owners, the British Racing Drivers' Club (BRDC), and Bernie Ecclestone.

Heaping praise on the negotiating team, BRDC president and 1996 Formula 1 world champion Damon Hill said, "It's not easy to enter an agreement of this magnitude. It's a big commitment. But the BRDC felt we wanted this relationship to continue, and we were prepared to back the negotiating team, with the level of risk satisfactory for the deal to go ahead. This announcement is tremendous news. It really does cement Silverstone as a motor sport venue and is incredibly satisfying for the BRDC to cement its relationship with Formula 1."

Silverstone was lucky to get back on the calendar circuit. Rival track Donington Park was awarded to host the British Grand Prix from 2010 onwards. However, they lost out after they failed to secure the $200 million which was needed to fund all the re-development plans. Anyway, so now we will be able to see our favorite Silverstone continue to host the British Grand Prix, for another 17 years at least.