Ecclestone and Silverstone closer to deal on British grand prix
In the wake of Donington's demise, negotiations between Silverstone and Bernie Ecclestone have been slow, as the deadline of next Wednesday's meeting of the F1 Commission looms.
A report by BBC Sport said it was rumored earlier this week that a deal had finally been reached, but Hill – president of the track-owning BRDC – says that is not the case.
"It would be almost inconceivable for there not to be a British Grand Prix next year," said the 1996 world champion, "but until it is signed, there is always the possibility that will be the case."
The report said a broad agreement between Silverstone and F1 chief executive Ecclestone, who is currently on holiday, has been reached.
"We're down to the finer points, but they are crucial points," Hill confirmed. motorsport.com
11/22/09 According to reports on the BBC, a new deal between FOM and the Silverstone circuit should be finalized very soon with Richard Phillips, Silverstone’s managing director, revealing that the deal on the table will hopefully last for the next ten years and that at this stage there doesn’t appear to be any real problems that would stand in the way of signing the new contract.
"I don't think there are any real stumbling blocks, we're going through the last details of the deal," he told the BBC. "I'm pretty convinced that it will be run at Silverstone next year. There is a lot of detail to go through, so if you make a mistake, there's a long time to repent. You can come to high level agreements quickly, but the devil is in the detail. We're very, very close. We certainly would like the contract to be for more than 10 years – that's the minimum."
Despite the fact that Bernie Ecclestone had signed a fifteen year deal to run the British event at rival Donington circuit, a venture that failed to materialize, Phillips as always confident that the F1 circus would return to their circuit
"We always had the faith that the Grand Prix would return. We’ve been planning for more than a year, we'll finish the track works in March and start on the new pits ready for 2011."