Official statement from BRDC

09/12/2004
NEWS STORY

The British Racing Drivers'Club (BRDC) and FOA today announced a contractual and financial agreement which will secure the future of the Grand Prix at Silverstone for the next five years.

In a statement BRDC President, Sir Jackie Stewart, and Chairman, Ray Bellm, said "After long drawn out discussions we have reached a satisfactory conclusion.

"Our agreement today:

Will secure the Grand Prix at Silverstone for the next 5 years

Poses no serious threat to the finances of the BRDC and its responsibilities to its Members and will be a boost to the local economies around Silverstone.

Will provide a sound foundation for the BRDC to work with the government agency EMDA and the private sector to develop Silverstone into a Centre of Excellence for British motorsport that will be the envy of the world.

Will, by maintaining the Grand Prix at Silverstone, help to secure the continuing pre-eminence of the British motorsport industry in the United Kingdom.

"There has been much public debate on the future of the British Grand Prix.

We hope that this agreement heralds a more stable and secure future for the race and consequently for our industry and sport in the United Kingdom."