Silverstone has agreed a 17-year deal to host the British Grand Prix from 2010, ensuring the prestigious race is not axed from the Formula 1 calendar. The Northamptonshire circuit stepped in to stage the event which next year takes place on 11 July after Donington Park was stripped of the rights.
And the news ensures the oldest race on the F1 calendar retains its place.
Under the new agreement, Silverstone, which hosted this year's British Grand Prix in July, will be redeveloped.
The modernisation of the facilities at Silverstone, which first will focus on rebuilding the pit lanes and paddock.
Silverstone managing director Richard Phillips said: "We've always had five-year deals and never been able to get the investment we needed to redevelop.
"But 17 years gives us the ability to invest and move forward."
cheeRS
And the news ensures the oldest race on the F1 calendar retains its place.
Under the new agreement, Silverstone, which hosted this year's British Grand Prix in July, will be redeveloped.
The modernisation of the facilities at Silverstone, which first will focus on rebuilding the pit lanes and paddock.
Silverstone managing director Richard Phillips said: "We've always had five-year deals and never been able to get the investment we needed to redevelop.
"But 17 years gives us the ability to invest and move forward."
cheeRS
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