British Grand Prix Future in Doubt

The long-term future of the British Grand Prix is in doubt after race organisers Octagon Motorsports were put up for sale by parent company Interpublic, it was confirmed today.

The race, which came under strong criticism from Formula One supremo Bernie Ecclestone last year, has been constantly under threat since Octagon took charge of running the show in 1999.

The United States-owned company bought a 15-year lease to run the race, but Ecclestone has now admitted that the contract was not commercially viable and said the British Grand Prix now faces an uncertain future.

Ecclestone told the BBC: "Either Octagon will run the race or someone else will and if no-one wants to run the race, then there won't be a British Grand Prix."

Octagon Motorsports, who also own British race circuits Brands Hatch, Snetterton, Oulton Park and Cadwell Park, could be sold whole or their assets may be split and sold individually.

Ecclestone, who has a financial interest in the Spa-Francorchamps circuit and owns the Paul Ricard track in France, was rumoured to be interested in buying the lease but he has denied any plans to get involved.

Silverstone owners, the British Racing Drivers' Club (BRDC), were offered a chance to buy the lease before Ecclestone concluded the deal with Octagon but they declined and chose to rent the circuit to Octagon for the Grand Prix.

Ecclestone believes they are to blame for the problems and added: "The BRDC should run the race and be the promoter. If the British Grand Prix disappears from Britain it will be because no-one can afford Silverstone's rent."