Stewart Confident British GP Can be Saved

Former World Champion Jackie Stewart is "cautiously optimistic" about the British Grand Prix remaining on next year's Formula One calendar despite a threat to axe the race.

"I've got a feeling deep in my stomach that in the end it will come together," Stewart, president of the British Racing Drivers' Club (BRDC) that owns Silverstone circuit, told Reuters today. "I spoke to the (UK Sports) Minister Richard Caborn today and he also is cautiously optimistic that we can come to a solution on it.

"But the fat lady has not sung yet. The deal has not been done and I am still very worried about it because of the implications of losing the Grand Prix."

Formula One's commercial supremo Bernie Ecclestone, who said last week that the race at Silverstone would be cancelled because the BRDC would not meet his asking price for the promotional rights, confirmed talks were continuing.

"Richard Caborn has been in contact with me and is doing his best to keep the race in this country," he told Thursday's edition of the Daily Mail. "He has asked me to meet the BRDC halfway and I have done so.

"I would prefer to sign a seven-year agreement because we don't want this nonsense of a question mark about the event every couple of years or so but it's up to the BRDC."

The provisional calendar will be presented to the governing FIA for ratification at a meeting in Paris next Wednesday. If Silverstone is dropped, it would be the first time since the circuit hosted the first Formula One Grand Prix in 1950 that the championship has been without a British race.

Cash-Rich

Caborn last week ruled out government cash assistance to ensure the Grand Prix's future, asking: "Is it right that a cash-rich, asset-rich sport should take money out of the (overall) sport budget?"

Stewart said the government was still not about to write any cheques but was looking into ways of helping the non-profit-making BRDC save or raise money that could be put towards securing the race.

Ecclestone was paid $93 million by advertising giant Interpublic last April to take back the rights to promote the troubled race until 2015 and his critics say he is now seeking effectively to be paid twice over.

The Briton, who had set a September 30 deadline for a contract to be agreed, said last week he might reinstate Silverstone if a deal was done and teams agreed to the race being held as an extra 18th round.

The prospect of losing the British Grand Prix has been met with anger and dismay in Britain, home to a majority of the 10 Formula One teams.

Stewart said that if the race went, it would be a blow for the motorsport industry as well as the sport's hopes of nurturing future champions.

"I went to the British Grand Prix in 1953 and that's where the bug bit," he said. "I was passionate thereafter about one day being a racing driver."

He claimed that failure to secure the race would also be a setback for London's bid to host the 2012 Summer Olympics, which Ecclestone has expressed support for.

"If we lose the British Grand Prix, what will it say to the world about our Olympic bid?" asked the Scot.