Donington firm in administration 19/11/2009 |
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The company that wanted to bring the British Grand Prix to Donington Park has gone into administration.
Donington Ventures Leisure Limited, which owns the leasehold to the circuit, lost a 17-year contract to stage the event after its final attempt to raise funds for track redevelopment fell through last month.
Administrator Nigel Price said he was looking for a third party buyer with “vision” who could still bring Formula One to the venue.
“This need not be the end of Formula One racing at Donington - it still remains a fantastic location,” he added.
“We are certainly hopeful that a 2011 Grand Prix could take place at the site.
“We are looking for a purchaser for the business and the potential opportunity to bring Formula One to this part of the East Midlands by funding the work that needs to be carried out to the circuit.
“It needs people of vision to get the dream to the starting grid.”
Silverstone has hosted every British Grand Prix since 1987 but it is still not clear whether a late deal can be done to stage the race there in 2010.
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