FOM Denies British GP Future is Safe

Bernie Ecclestone's Formula One Management, FOM, has denied the future of the British Grand Prix is safe after this year's race.

The British Racing Drivers' Club announced today that it had reached agreement with Interpublic Group that will give it the right to take back the lease and the running of the Silverstone circuit, which hosts the Grand Prix since 1950.

Alexander Hooton, chief Executive of the BRDC, claimed in a statement that Formula One Administration had already guaranteed the British Grand Prix for 2005 and 2006.

"The BRDC continues discussions with FOA, the British Government through EMDA (East Midlands Development Agency) and the private sector in planning the long-term future of Silverstone and the retention of the British Grand Prix in the UK," said Hooton.

"The FOA has already publicly guaranteed that the British Grand Prix is secure for 2005 and 2006. The Board of the BRDC is cautiously optimistic that the long-term future of the British Grand Prix will be secured."

FOM, however, responded to Hooton's comments in a statement released today, making it clear that the race at Silverstone is not yet safe.

"We wish to correct and clarify public comments made today by Mr Alexander Hooton of the British Racing Drivers Club suggesting that we have publicly agreed that the British Grand Prix is secure for 2005 and 2006," said the statement.

"Our position has been clear and consistent throughout recent discussions with the BRDC and others, namely that Formula One Administration Limited is prepared to enter into an agreement with either the BRDC or another suitable promoter for the staging of a British round of the FIA Formula One World Championship in the years 2005 and 2006 on commercial terms matching those in place for rounds of the Championship held in Germany.

"This remains our position, although as yet neither the BRDC nor any other person has stepped up to accept this offer. Such an agreement would need to be in place no later than 30 September 2004."

Ecclestone, who will take over as promoter of the race from 2005, has been a regular critic of the track in the past, saying it does not come up to the standards of other Formula One circuits.