After months of negotiations, the British Racing Drivers Club has reached an agreement with the FIA and Formula One Management to keep the British Grand Prix at Silverstone for the next seventeen years, starting with the 2010 race.
Interestingly, the new deal is for the same amount of time that rival circuit Donington Park had signed with Bernie Ecclestone. But that deal fell through, and Donington has gone into bankruptcy. By comparison Silverstone — which first hosted the event in 1948 and has hosted it every year since 1987 will be required to undertake a massive renovation project in order to meet Formula 1′s demands.
Included in the plans are new grandstands, a new paddock area with a new pits section, and even a potential switch to a new track layout. The Arena circuit was carved out of sections of the existing grand prix circuit for use by MotoGP, which will also be racing at Silverstone in the coming year. By containing it within the main area, the Arena circuit offers spectators a better view of the action, and the BRDC currently headed by 1996 World Champion Damon Hill has submitted the layout for FIA approval.
