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Silverstone Confirms $1 Million Profit for 2009 British GP

Silverstone has become one of the few circuits part of the Formula One calendar that recorded a profit following their hosting of a grand prix. As confirmed by the British circuit, the revenues from this year's British Grand Prix have exceeded the expenses by a little over a million dollars.

“Not much!”, some of you might think. However, if one is to consider the fact that two circuits have recently announced immense financial losses following their home F1 grand prix in recent years – Australia in 2009 and Belgium in 2008 – not to mention the multitude of circuits having problems securing the necessary funds to continue hosting F1 races, Silverstone's performance is an extraordinary one.

We remain one of the few venues in the world that produce a small profit from our blue riband event,” said Silverstone's managing director Richard Phillips.

Less than a month ago, Albert Park announced it has recorded a loss of over $40 million following the 2009 Australian Grand Prix. In addition, in order to secure the place of both Hockenheim and Montreal in the 2010 Formula One calendar, Bernie Ecclestone agreed to modify his money offer because of the immense money loss recorded by those 2 venues.

Also, Istanbul is in danger of being thrown out of F1 because of their inability to secure the hosting of the Turkish Grand Prix from 2011 onwards.

As for Silverstone, the Northamptonshire track maintains its hopes of making the 2010 calendar, amid rumors that Donington Park is yet to secure the financial backing for hosting the British Grand Prix from 2010 onwards.

Donington Park's Simon Gillett is still looking for an eleventh hour investor to safeguard the hosting of the British race in Leicestershire, as he has until the end of this week to show Ecclestone the financial guarantees for next season.
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