Octagon, BRDC happy with DTI findings

Octagon, which holds the rights to the British Grand Prix, has leased Silverstone from its owners the BRDC for the next 15 years, but the Competition Commission began investigating the deal in case it was against public interest.

After a thorough investigation, the Commission has found no problem with the deal and, despite a review in five years' time, Bain believes the findings mark a new chapter for British motorsport.

"I am delighted with the results of this inquiry," said Bain. "It gives us a clean bill of health and allows us to bury uncertainty and to focus our resources on making British motosport the envy of the world."

In an official statement, the BRDC added: "We are delighted that the Competition Commission has been able to identify the enormous benefit to the future of British motorsport that was at the heart of the BRDC/Octagon agreement of last December. We welcome the Competition Commission's speedy conclusion that the agreement is not against the public interest."

The future of the British GP at Silverstone remains less clear, however, as British motorsport's governing body, the MSA, has begun an inquiry into the traffic problems surrounding this year's race.

The FIA must be satisfied as to the reasons behind the traffic problems before the Silverstone race is guaranteed a place on the Formula 1 World Championship calendar.

For full story on Competitions Commission findings, click here.