D-Day for Silverstone and the British GP

Today is the day when Silverstone must confirm if it accepts the terms laid down by Formula One rights holder Bernie Ecclestone. However the 48 hour deadline set by Bernie is likely to pass without an agreement being reached.

It was reported earlier this week that the F1 Chief was giving Silverstone “a day or two” before a decision was made to remove the British Grand Prix from the 2010 calendar. But Silverstone’s Managing Director, Richard Phillips, was said to be surprised by the ultimatum because Silverstone is waiting for Ecclestone to respond to their proposed amendments to the contract.

“They say there is not much between us and them, so they should sign,” said Ecclestone. “Maybe they have lost their pen but if they don’t find it in the next day or two then that’s it ….I will pull the race off the calendar and there will be no British Grand Prix to argue about.”

Earlier this week Red Bull F1 driver Mark Webber said, “We have to have the British Grand Prix at Silverstone. It’s a total no-brainer… It’s a sensational circuit. And it’s always been very well attended.”

Talks between Ecclestone and the BRDC, who own Silverstone, have been ongoing since it was announced that Donington Park would not run the British Grand Prix in 2010 due to a lack of funds.

Written By

Steve Davies

Steve is an investor, private equity advisor and former Partner at KPMG, PwC and Bain. Most importantly he's a life-long car enthusiast, mountain biker and active sports enthusiast. He designs and builds technology platforms and is the architect behind Transmission.