British Grand Prix Organisers Meet to Save Race

British Grand Prix organisers will stage an emergency meeting on Thursday aimed at blocking Formula One supremo Bernie Ecclestone's plans to scrap the race.

The absence of a British race in the 2005 calendar - a strong likelihood according to Ecclestone - would be "a severe body blow to the sport", British Racing Drivers' Club president Jackie Stewart said on Wednesday.

Ecclestone has finally lost his patience with Silverstone's owners after the 73-year-old tycoon repeatedly failed to reach an agreement over financial terms or the length of the BRDC's commitment to the race.

He said another unnamed country had been lined up to take the place of Britain - which staged the first Grand Prix in 1950 - in the calendar. But Stewart, a former three-times F1 champion driver and team owner, is still hopeful Ecclestone can be persuaded to relent.

'Unilateral Decision'

"Mr Ecclestone's unilateral decision to cancel the Grand Prix is bad news for Britain," Stewart said on Wednesday.

"We were hopeful that a two-year deal for keeping the Grand Prix at Silverstone was close to agreement, and we believe that Mr Ecclestone had committed for 2005/2006 to (British) Sports Minister Richard Caborn.

"Fine details of the deal could have been agreed.

"While we understand that Mr Ecclestone can get more money from new-entry countries and foreign Governments, than either BRDC can afford or the British Government is prepared to support, the end of the British Grand Prix will have serious consequences.

"Mr Ecclestone has delivered a severe body blow to the sport, industry and economy in the UK and to the hundreds of thousands of loyal British fans."

Ecclestone had been insistent on Tuesday that the race would not appear on the 2005 race calendar.

"I've bent over backwards to keep the race going and can only conclude that the BRDC don't really want to promote it," he told reporters after the latest talks broke down. "What more can anyone do? The BRDC want everything their way. Business life is not like that.

"It looks certain that there will not be a British Grand Prix in 2005."

Ecclestone said he has been approached by a country willing to invest hundreds of millions of dollars to construct a new Formula One circuit and to make a guaranteed commitment to pay substantially more than the BRDC.

The new deal would be for seven years with an option on F1's part to extend by five years.

The tycoon said he could not make a sensible business case for turning the interested country down in order to give the BRDC a two-year deal at a significant discount.