[QUOTE]
The operators and owners of the Silverstone circuit on Monday jointly revealed that an agreement to host the next 17 British Grand Prix has been reached.

The news was announced on Monday morning from London's Grosvenor House Hotel, following a long period of uncertainty about the oldest event in the modern world championship.

Part of the deal will be the redevelopment of the Northamptonshire facility's ageing pit and paddock facilities.

"We've always had five-year deals and never been able to get the investment we needed to redevelop," said managing director Richard Phillips. "17 years gives us the ability to invest and move forward.

 

Good news, even if the race is usually pretty dull unless it rains.

Whither Donington? No big income earners now that they've lost the MotoGP as well. Hopefully it means their prices might fall again, it's a great track in an S2000.

 

Fri 9th - Sun 11th July 2010

 

Simon Gillette's company is now in administration, and they were being sued for millions of unpaid fees from the Wheatcrofts. Can't be good, and as you say they've lost their biggest event in the fiasco. All they've really acheived is getting a much better deal for Silverstone.

Silverstone isn't great, but realistically, it's the best we're ever going to have.

 

The good news is the 17 year long deal for Silverstone (as opposed to previous 5 yr deals) which will allow them time to raise the capital necessary to upgrade the facilities and, more importantly, generate a return on their investment.

Expect a different, and better looking Silverstone, in due course ...

 

I think they settled with the Wheatcrofts but it's a shame it ended so badly.

 

Its a shame especially as they made a right mess of the track in the last few months which led to club race meetings being cancelled and annoying a lot of people in the process. Cant see the fees at Donington being much reduced after all this, the place has always been very expensive to hire which is why Jim Russell moved away 8/9 years ago.

Back to Silverstone is good news, lets hope the actually do a decent job with new facilities etc. A hotel, museum and similar are needed to really get this place moving.

 

The worst thing is that they were allowed to take down the Dunlop bridge, shocking.

 

I do wonder how much of their proposed development they will be able to complete in time. Seems an awful lot for the short time they have. Early bird tickets are on sale so probably buying ours this week. Another year another price hike

 

The BBC reports that they won't be doing anything for 2010, and that 2011 is the plan. Not suprising.

There's also a new bit of track they're building for the Moto GP event, which they say they want to use for F1 as well. But that looks like a bit of a boring couple of straights, and misses out Bridge corner.