Silverstone MD says long-term deal is set to be revealed soon
24 November 2009

A long-term deal to secure the British grand prix at Silverstone circuit is imminent, according to the circuit’s managing director.

Richard Phillips, who runs Silverstone’s holding company, said only minor details were left to sort out. He is confident any outstanding issues can be resolved before Bernie Ecclestone’s 9 December deadline for the British GP deal.

“I don't think there are any real stumbling blocks. We're going through the last details of the deal," Phillips told BBC Radio Northampton.

"I'm pretty convinced that it will be run at Silverstone next year. We always had the faith that the grand prix would return. We've been planning for more than a year; we'll finish the track works in March and start on the new pits ready for 2011."

Donington had originally been pencilled in to host next year’s British grand prix, but it failed to raise the necessary finance. The circuit’s lease-holder has since entered administration.

Phillips said the circuit was working on a long-term deal, and Silverstone is keen to ensure all the contract details are right before committing to the deal.

“There is a lot of detail to go through, so if you make a mistake there's a long time to repent," he said. "You can come to high-level agreements quickly, but the devil is in the detail. We're very, very close.

"We certainly would like the contract to be for more than 10 years; that's the minimum."

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