After much wrangling over the future of the British Grand Prix, Silverstone has just announced that it has secured a 17-year deal to host the race.
The GP was put in doubt when the deal with Donington fell apart, after the circuit’s leasing company were unable to secure funds to redevelop the track.
F1 boss Bernie Ecclestone then made some grumbling noises to there not actually being a UK race next year, which caused teams and the general public alike to get somewhat irate.
However, Silverstone owners the British Racing Drivers’ Club has now come to a workable deal with Bernard, that leaves them in a much better position,
with a longer contract, to invest in the track for the future.
Building on a new pits and paddock complex will begin post-Christmas, and it’s hoped that will all be complete by the time the 2011 race comes round.
“It is not easy to enter into a contract of this magnitude and you have to take on a lot of responsibility, but we wanted this relationship to continue,” said BRDC president Damon Hill.
“Everyone was well aware that the British GP is not just a sporting event, but it is dynamo of the industry in this country.”
So that is some very good news indeed for a Monday morning.