British GP secured to 2006

The future of the beleaguered British Grand Prix appears to have been secured for the next two years, although the deal is dependent on the Silverstone circuit being upgraded. The British Racing Drivers' Club (BRDC), which owns Silverstone, announced that an agreement had been reached between it, Bernie Ecclestone's Formula One Management (FOM) and the British government to retain the GP for 2005 and 2006.

"Bernie Ecclestone has agreed to grant the rights to a promoter on the same contractual terms as other European countries, such as Germany and Italy, for the Grand Prix to be held in the UK for the next two years, on the understanding that there will be significant long-term investment at Silverstone to raise the standards of the circuit and its facilities to the level of its international competitors," it said in a statement from the BRDC.

The Club pointed out at its annual general meeting today, May 25th, that Ecclestone had been critical of the Silverstone facilities and asked for the support of its members in making the changes required to ensure the long-term future of the GP.

"Bernie Ecclestone is supportive of the proposals being discussed and is anxious to retain the Grand Prix in the United Kingdom, for the good of the country and the sport," the statement continued.

"The British Government, represented by Richard Caborn, Minister of Sport, and assisted by the DTI and EMDA, the regional development agency, is also very keen that the country's premier motorsport event is retained and that the industry has a Centre of Excellence at Silverstone that the country can be proud of."