Formula One British Grand Prix - Silverstone

The British Grand Prix is a race in the calendar of the FIA Formula One World Championship. It is currently held at the Silverstone Circuit near the village of Silverstone in Northamptonshire.

Grand Prix motor racing was first established in Britain by Henry Segrave at the Brooklands course in 1926 after his winning of the French Grand Prix in 1923 and the following year at the Spanish Grand Prix which raised interest in the sport. The first ever British Grand Prix was won by the French team of Louis Wagner and Robert Sénéchal driving a Delage 155B. During the 1930s, the race was known as the Donington Grand Prix, in reference to the host track Donington Park.

Silverstone has hosted the race regularly since the start of the F1 championship in 1950 (in which it was the first race of the first ever official World Championship) and every year since 1987; it alternated with Brands Hatch between 1964 and 1986, and with Aintree (better known as a horse-racing course) between 1955 and 1962.

Before track was heavily modified in 1991, Silverstone was one of the fastest tracks on the Formula 1 calendar. The drivers loved the challenge of the sweeping and extremely demanding Copse, Stowe and Club corners. 1982 World Champion Keke Rosberg held the all-time Formula 1 qualifying lap record for 16 years after posting fastest time for the 1985 British Grand prix with an average speed of 258.983km/h(160.92mph).

In recent times Silverstone has produced some fine race wins by British drivers. Notably John Watson (1981), Nigel Mansell (1987, 1991, 1992), Damon Hill (1994) and David Coulthard (1999, 2000). -- source www.wikipedia.org

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Hill still hopes British GP can be saved

From: afp.com

Damon Hill believes it is still possible that a deal can be agreed with Formula One rights holder Bernie Ecclestone to preserve the future of the British Grand Prix.

Plans for Donington Park to take over from Silverstone, host of the last 23 British Grand Prix, appeared to collapse after track operators issued a statement Friday that a bond issue attempt to raise 135 million pounds (147 million euros) for circuit modernisation had proved unsuccessful.

Technically, Donington still has until midnight local time Tuesday to raise the reqiuired finance but Ecclestone had said their bid is "over".

Although himself an Englishman, Ecclestone is no fan of the Silverstone circuit, like Donington situated in the English Midlands, and has made it clear that just because the British Grand Prix is one of Formula One's oldest races it is not guaranteed an ongoing place in the sport's calendar.

There are also reports that Silverstone chiefs are unhappy with the financial terms of the deal being offered by Ecclestone.

However, former world champion Hill, the president of Silverstone's owners, the British Racing Drivers' Club, told Tuesday's Guardian: "I am hopeful something can be resolved.

"There is a good chance we can sort something out soon."

But Hill said he understood Ecclestone could make more money by taking the race elsewhere. "He can get a value globally that is far in excess of what he can get for the UK.

"We can respect that it is a difficult position for him to be in. He has to answer to his shareholders.

"Other countries are bound to pay a premium, but their revenue streams are more open than they are to a promoter in the UK," he added.

"We feel the best thing to do is to designate a venue with a long enough term plan that you can tailor your investments," explained Hill, whose later father Graham was also a Formula One world champion.

"There are options on the table. There are discussions taking place and I'm hopeful something can be sorted out."

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