Donington bosses promise Ł100m revamp

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Friday 4th July 2008

Donington Park's owners have promised to invest Ł100 million over the next five years in the track as part of the deal that sees them take the British GP away from Silverstone.

The FIA announced on Friday morning that as of 2010 Silverstone would no longer be the home of the British GP and in doing so followed through on threats to take the race away from the Northamptonshire track partly for failing to upgrade their facilities to Bernie Ecclestone's standards.

However, in order to meet the F1 supremo's standards Donington Park, home of British superbikes, will need to invest a great deal of money in the circuit, which they have promised to do.

Donington Park's owners and joint CEOs, Simon Gillett and Lee Gill said: "We are naturally delighted and extremely proud to have acquired the rights to bring Formula One back to Donington Park from 2010.

"At the beginning of last year when we acquired the circuit and its substantial lands, we made clear our commitment towards realising the full potential of the Park by making the necessary investments in current and future events that will see Donington revitalised, ensuring its leading position as one of the most iconic racing circuits in the world.

"To that end, we have now entered a new and exciting chapter in the development of the Park and one that will bring significant investment and regional development while securing the future of one of the most important and significant sporting events in Britain."