British Grand Prix Deal Approved by DTI

British Grand Prix organisers Octagon have been given the all-clear following an investigation into their merger with the British Racing Drivers' Club (BRDC) by the Department of Trade and Industry (DTI).

The deal was struck in December, but it created fears of a motorsport monopoly and the DTI's Competitions Commission set up a public inquiry into Octagon's operations. However, the DTI announced on Thursday that Octagon, who own the commercial rights to the British Grand Prix for the next 15 years, were operating in an acceptable manner, and are free to continue.

"The competitions commission has conducted a thorough investigation into this acquisition and has concluded that it does not operate against the public interest," said DTI minister Brian Wilson.

Octagon now controls five of the 18 British racing circuits, including Silverstone, home of the British Grand Prix, and Brands Hatch. However, the report concluded that due to the competition of other sports and the influence of other British circuits which are not under the Octagon banner, the merger is acceptable.

Despite this, the report demanded an investigation into the operation of Octagon's markets during the next five years.

"The Commission has proposed that the Director General of Fair Trading should review the operation of the relevant markets within five years," said Wilson. "The Director General has agreed to do so."

The result means that the future of the British Grand Prix is safe, although with the continued introduction of new circuits, Octagon will have to ensure that the facilities continue to improve in line with their rival circuits.