Silverstone has 48 hours to sign

The British Grand Prix has less than 48 hours to secure its place on the Formula One calendar for next season.

Bernie Ecclestone, who holds the rights to F1 events, has warned that his negotiations with Silverstone are over and he is now waiting to see if Silverstone is ready to pay the asking price to host the race.

«They say there’s not much between us and them, so they should sign, » said Ecclestone. «Maybe they’ve lost their pen, but if they don’t find it in a day or two, it will be too late. I would remove the race from the calendar, and there will be no Grand Prix. »

Silverstone is the only option now, after Donington’s failure to raise the necessary funds to fulfill their contract and renovate the circuit. Bernie Ecclestone’s latest offer includes a registration fee of 12 million pounds sterling and an annual inflation of 7% on this amount.

Silverstone, which generated a profit of 662,000 pounds, hoped not to have to pay to host the British Grand Prix. It is important to know that Bernie Ecclestone’s FOM, in addition to charging a registration fee to the circuits, collects all the revenue generated by the event. Only the ticket sales revenue goes back to the organizers.