Silverstone poised to agree £300m British Grand Prix deal

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The Independent Online

The future of Silverstone as the home of British Grand Prix is expected to be comfirmed today by Damon Hill, president of the British Racing Drivers' Club – the owners of the Northamptonshire circuit.

Hill is set to front a press conference in London today at which the it is believed he will announce details of a 17-year £300m deal with Bernie Ecclestone's Formula One management group. There had been growing fears that there would be no British Grand Prix next year. Ecclestone had set a deadline of Wednesday for a deal to be done or the race would be removed from the F1 programme.

Reports have Silverstone agreeing to pay some £14m for next year's race. "It would be almost inconceivable for there not to be a British Grand Prix next year," said an increasingly confident Hill last week and it now seems as if he is to be proved right.