BRDC to continue its fight

On Wednesday Bernie Ecclestone called off negotiations with the BRDC, owners of the Silverstone circuit, after the two sides failed to reach an agreement. The disagreement centres on the length of the contract and its financial terms.

"We have been in intense negotiations for nine months and we met the bulk of the terms, including closing the gap on fees," BRDC chairman Ray Bellm said in a statement released by the board follwoing today's meeting. "We thought we were close to an agreement. However, the major stumbling block is over the length of the contract.

"The only way forward for us is a two-year contract, which would give us time to plan and secure the long-term future of the British Grand Prix. We have financial limits on what we can afford. We need a British Grand Prix to sustain the long-term stability of the valuable British motorsport industry and for the sake of Silverstone. We have done our utmost to come to an agreement, but the present terms are not financially viable."

Following today's meeting BRDC president Jackie Stewart said the board would continue to fight for the race and would contact those involved in the sport to try and garner support for the event. A meeting with Ecclestone and the 10 team bosses is set to take place in Sao Paulo on Friday morning which Stewart hopes will prove fruitful.

"In the board meeting today we agreed to explore all other avenues by talking to teams, manufacturers and sponsors," Stewart said. "We hope there will be positive support for the British Grand Prix as a result of the Formula 1 team principals' meeting with Mr Bernie Ecclestone, to be held tomorrow (Friday) at Sao Paulo, Brazil, the venue for the final round of the F1 World Championship."