Silverstone GP axe to hit local economy
Blow to hotel and hospitality business
The local economy has been dealt a major blow with the news next year's British Grand Prix will be the last.
From 2010 the race will be held at Donington Park.
It was announced on Friday that Bernie Ecclestone, who owns the F1 franchise, had been unable to strike a deal with the British Racing Drivers Club which owns the former bomber base circuit on the Bucks/ Northants border. Several years ago he likened the venue to "a country fair".
The news came as fans gathered for what is a three-day sell out with the race starting at 1pm on Sunday.
It is understood the event is worth up to £40 million to businesses in a 50-mile radius of the circuit and employing hundreds of people.
Donington, in Leicestershire, which has a deal to hold the race for 10 years, has promised a £100 million makeover.
The full article contains 161 words and appears in n/a newspaper.
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Last Updated:
04 July 2008 5:26 PM
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Source:
n/a
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Location:
Milton Keynes
