Britain looks set to host two Formula 1 races per year after plans for the capital to host a Grand Prix were revealed.
London’s East End is said to host the proposed new F1 venue, with plans in place to develop a new sports and entertainment complex at the Royal Docks.
Britain has hosted a Grand Prix in every year since the Formula 1 World Championship was created in 1950 – the current venue Silverstone has hosted the most races, while Aintree and Brands Hatch have also been used.
Now, funding is said to have been secured to build a new complex in the London borough of Newham, in the Royal Docks area including London City Airport and the ExCeL Centre, across the river from the O2 Arena.
The Daily Mail reports the proposed Docklands circuit has support from mayor Sadiq Khan and would be created to be hosted annually as a second race in the UK rather than replacing Silverstone, which is currently guaranteed a place on the F1 calendar until at least 2024.
Under Khan’s vision, it would be the first F1 race which could only be accessed by public transport and would be a carbon-neutral event.
The company’s founder Josh Wander said: “We are hopeful that it is coming. We are hugely excited about it.
“There will be an electric atmosphere as the greatest athletes in the world, along with an international fan base and the world’s largest companies as sponsors, descend on the Docks for race weekend.
“More importantly, we will build a world-class sports and entertainment complex that can serve the community year-round and revitalize the surrounding areas.
“It is the type of thing you really can’t quantify until it actually happens, but the impact is dramatic.”
The plans have not yet been signed off by F1’s owners Liberty Media, but the firm has said in the past it wants to bring more races to “destination cities” like London and has already gone about creating a purpose-built F1 venue for this year’s inaugural Saudi Arabian Grand Prix in Jeddah.