Silverstone deal imminent
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The British Grand Prix at Silverstone is close to being saved with Government officials hoping to make an announcement tomorrow.
Talks between Formula One representatives and Silverstone's owners are at an advanced stage and a statement is expected before the start of this weekend's Japanese Grand Prix in Suzuka. The Government has refused to use taxpayers' money to bail out the British Racing Drivers' Club but it is thought an incentives package, arranged through the East Midlands Development Agency, could smooth the way for a deal. The move should enable the BRDC to bridge the £800,000 gap between their offer and Formula One's demands for the rights to stage the British Grand Prix.
A source close to the Sports Minister, Richard Caborn, said: "He is now much more confident that a deal can be delivered than he was last week. The two sides have been back in useful negotiations and they both know the grand prix is too big to drop for both of them.
"Although it is not 100 per cent yet, he has high hopes there will be an announcement before the end of the week."
The final deadline for a deal is next Wednesday, when next year's provisional Formula One calendar goes before the FIA world motorsports council meeting. Only 17 out of a possible 19 dates are on the list so there is space for Silverstone to be included.
Caborn's main concern has been the impact losing the grand prix would have on plans to make Silverstone an international centre of excellence for the motor racing industry.
Last week however he ruled out the use of Government money to help pay for the grand prix saying: "This is an asset-rich and cash-rich sport and yet the Government is being asked to take money away from grass-roots sport to put into it."
The BRDC claimed the sticking point was less about money than having to sign up for the next seven years.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments