In the wake of Jackie Stewart's most recent statement, regarding the future of the British Grand Prix at Silverstone, Bernie Ecclestone has issued his own statement on behalf of Formula One Management (FOM).

"I feel I must reply to Sir Jackie Stewart’s latest statement concerning what he has decided to call my latest threats.

"First of all, I have never threatened either Sir Jackie or the BRDC – I have merely stated facts.

"On this occasion he would seem to be referring to the deadline by which we require a promoter to make a commitment for a Formula One event at Silverstone in 2005. Ordinarily, FOA as the commercial rightsholder would have proposed to the FIA a calendar of races for the 2005 FIA Formula One World Championship season by June of this year, which means that binding contracts with all promoters should be in place by now.

"This year, as we do not yet have an agreement with anybody to stage a British Grand Prix, in order to help the BRDC, I have asked the FIA to wait until its World Motor Sport Council meets in October 2004 when I will make our calendar proposal. If the BRDC and / or Sir Jackie carry out what they have said they can do, a Formula One event will take place at Silverstone in 2005.

"As for Sir Jackie's remarks about the financial viability of staging a Formula One event in London, I am quite sure if this were to happen, the promoter would not need any advice from Sir Jackie. He should look carefully into the cost of staging an event at Silverstone and not worry about how other events are financed. I am quite sure that if the British Government cannot put any finance into Silverstone, they would adopt the same policy for other events."