Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Saudi Deputy FM meets Lt. Gen. Al-Burhan of Sudan    Al-Khateeb: Saudi Arabia is the largest global investor in tourism sector "Saudi Land" pavilion inaugurated at World Travel Market in London    Saudi Crown Prince, Japanese PM discuss over phone efforts made to achieve peace in the region    Saudi Arabia, in its drive to enrich Arab culture, launches Arab Week at UNESCO in Paris    Neymar exits Al Hilal match with muscle injury, leaving fans disappointed    AlHisn Big Time Studios unveiled to transform film and TV production in Riyadh    Saudi Arabia approves cooperation agreement with US for the use of outer space for peaceful purposes    Quality of Life Program CEO highlights Saudi urban transformations at UN-Habitat conference in Cairo    Almarai wins 'Best Corporate Sukuk' at Asset Triple A Islamic Finance Awards    Top climber falls to death after rare Himalayan feat    US voters flying home in time for election    Drones and snipers on standby to protect Arizona vote-counters    India's Modi condemns violence after Canada temple incident    Elon Musk can keep giving $1m to voters, judge rules    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Quincy Jones, titan of US music, dies aged 91    Hidden sugars in Asia's baby food spark concerns    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Silverstone signs 17-year British GP deal
By Alan Baldwin
Published in The Saudi Gazette on 08 - 12 - 2009

Silverstone's owners secured the future of the British Formula One Grand Prix Monday after agreeing a 17-year deal with the sport's commercial supremo Bernie Ecclestone.
Damon Hill, the 1996 champion and president of the British Racing Drivers' Club (BRDC) that owns the circuit, told a news conference that the deal – which includes a 10-year break clause – was good for fans and business alike.
He said failure might have caused lasting damage to the sport in a country that is home to a majority of the 13 Formula One teams and has provided the last two champions in Jenson Button and Lewis Hamilton.
“Everyone was very well aware that the British Grand Prix is not simply a sporting event but also the dynamo in the whole motorsports industry in this country,” said Hill.
“It highlights the industry, highlights this country and has an enormous commercial benefit ... It (failure) would have been incredibly damaging and there may well have been no going back. We've seen what has happened in France, they still don't have a Grand Prix there.”
No financial details were given but British newspaper The Times reported that the deal was worth 310 million pounds ($509.9 million) over the 17 years, including a 5 percent annual escalator clause.
Ecclestone, who once described the former World War Two airfield circuit as a country fair masquerading as a world event, has been a fierce critic over the years but said he too was satisfied.
“This will ensure that Britain will remain on the Formula One calendar for many years to come, which is something I have personally always wanted to see happen,” said the 79-year-old Briton in a statement.
Hamilton also welcomed the news: “The place has an atmosphere that money can't buy,” he said in a McLaren statement.
“British fans are the greatest Formula One supporters in the world and this must be the best Christmas present they could ever ask for.”
Hill said the circuit, which also has a long-term deal to host Britain's MotoGP race, could now focus on major improvements and significant investment. Silverstone Circuits Ltd managing director Richard Phillips said work on a new pit and paddock complex would start immediately after Christmas to be finished in time for 2011.
Next year's British Grand Prix is scheduled for July 11.


Clic here to read the story from its source.