End of the road for Grand Prix dream?
Donington Park's dream of staging the British Grand Prix in 2010 and beyond looks to be over after its latest fundraising efforts failed.
The Leicester Mercury understands that £120m worth of bonds issued earlier this week have now been withdrawn.
Despite interest from investors it is believed not enough was forthcoming to see the deal done in time.
Circuit boss Simon Gillett had been given until the end of the week to secure the money and prove to Formula One supremo Bernie Ecclestone that the venue can be brought up to scratch in time.
Mr Gillett was not available for comment last night, though an announcement is expected to be made later today.
Earlier this week a spokeswoman for Mr Gillett had said that he remained "optimistic" having met with potential investors on Monday, but it is now understood those attempts have fallen through.
It is now expected that Silverstone will step in to host the blue riband event in 2010.
*See tomorrow's Leicester Mercury.
2 Comments
by David Hankey, Great Easton, Leics
Friday, October 23 2009, 8:05AM
“Are we surprised?!! Management at Donington have portrayed gross amateurism in attempting to stage this prodigious world class event.
It smacks of Division 3 thinking they are in the Premiership.
How Ecclestone can award a 17 year contract to an outfit who appear to have difficulty in rubbing two halfpennies together is beyond me.”
by Kulgan, Crydee
Friday, October 23 2009, 8:04AM
“Surprised? No.
Disappointed for the Region? Yes.”