04/07/2008 14:48

England - Formula One chiefs announced on Friday that the British Grand Prix will move from Silverstone to Donington Park from 2010 onwards.

After months of speculation regarding the future of the race, F1 supremo Bernie Ecclestone and FIA president Max Mosley have finally struck a deal to ensure the long-term future of the event, but at a different venue.

Mosley said: "After many years of patient but fruitless negotiation with the BRDC (British Racing Drivers' Club), we are delighted that Bernie has nevertheless been able to ensure that the British Grand Prix will keep its place on the Formula One World Championship calendar.

"We understand that the development programme planned for Donington will achieve the very high standards we and FOM (Formula One Management) expect from a modern F1 circuit. Finally, British Formula One fans will get the Grand Prix venue they deserve.

Ecclestone added: "Finally the uncertainty is over. A contract has been signed with Donington Park and the future of the British Grand Prix is now secure.

"We wanted a world class venue for Formula One in Britain, something that the teams and British F1 fans could be proud of. The major development plans for Donington will give us exactly that. A venue that will put British motor sport back on the map.

"I am sorry that we could not have helped Silverstone to raise the money to carry out the circuit improvements and run Formula One.

"I believe that the government should have supported them which would have cost probably less than .002% of the government's commitment for the Olympic Games."