Negotiations for the revival of the Northamptonshire based track were held between the BRDC and Bernie Ecclestone for the last few weeks, following the confirmation from the Donington Park officials that a financial scheme for the building of their facilities to F1 standards had not been secured. Once the 17-year contract with Donington was voided by Ecclestone, Silverstone started hoping once again.
After weeks of imposed deadlines and negotiations between the two parties, Damon Hill – the president of the BRDC – finally gave the British fans a peace of mind for the upcoming 17 years. In addition, the former F1 champion also confirmed that Silverstone will debut as a race track in the MotoGP series next season.
“The title of Silverstone as home of motorsport has come true. It is a place for all motorsport. Everyone in the BRDC loves motorsport and we are looking forward to the MotoGP as well as the British Grand Prix,” announced Hill.
“It is not easy to enter into a contract of this magnitude and you have to take on a lot of responsibility, but the BRDC wanted this relationship to continue. Everyone was well aware that the British GP is not just a sporting event, but it is dynamo of the industry in this country. Losing it would have been damaging and perhaps there would have been no coming back,” added the British official.
In addition, he told the media that Silverstone agreed to begin development work on their facilities – mainly the pit lane and the paddock – as part of this new agreement with Ecclestone. This was, in fact, the main reason why the F1 boss tried to get rid of Silverstone from the F1 schedule in the first place, as he argued the Northamptonshire facilities are some of the most downgraded in the series.