Donington Park today said that losing the rights to host the motorcycle GP races from 2010 will not affect its plans for hosting the British Formula One Grand Prix.

The MotoGP bike event has been held at the Leicestershire track for 22 years, but a new five-year deal, announced on Monday, sees rival track Silverstone as the new home of the sport.

A 10-year deal to bring the British Formula One Grand Prix to Donington was confirmed earlier this month and will cost £100 million.

But Donington chiefs said the loss of revenue from the MotoGP will not affect the multi-million pound project to bring the track up to F1 standards.

Track owner Simon Gillett said: "We knew before Christmas that it would be moving, and although it is a big loss it is not going to impact in any way on our plans for the Formula One Grand Prix.

"We've had the sport here for 22 years so, of course, it is disappointing to lose it, but we have got the Formula One to look forward to now and that more than makes up for it.

"We still have the World Superbike Championships until 2011, so there will still be quality motorcycle events at the track.

"Silverstone has the MotoGP for five years, if the sport is still doing well at the end of its time there then of course we will bid for it again. We will definitely throw our hat into the ring."

Donington will host the event for the last time on July 26, before the event switches to Silverstone in 2010 in the deal.