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9 December: Following months of speculation, the future of the British Grand Prix has been secured. The British Racing Drivers' Club (BRDC) and FOA reached an agreement  that secures the future of the Grand Prix at Silverstone for the next five years.

The BRDC issued a statement that read:

The British Racing Drivers’Club (BRDC) and FOA today announced a contractual and financial agreement which will secure the future of the Grand Prix at Silverstone for the next five years.

In a statement BRDC President, Sir Jackie Stewart, and Chairman, Ray Bellm, said “After long drawn out discussions we have reached a satisfactory conclusion.

Our agreement today:

  1. will secure the Grand Prix at Silverstone for the next 5 years
  2. poses no serious threat to the finances of the BRDC and its responsibilities to its Members and will be a boost to the local economies around Silverstone.
  3. will provide a sound foundation for the BRDC to work with the government agency EMDA and the private sector to develop Silverstone into a Centre of Excellence for British motorsport that will be the envy of the world.
  4. will, by maintaining the Grand Prix at Silverstone, help to secure the continuing pre-eminence of the British motorsport industry in the United Kingdom.

“There has been much public debate on the future of the British Grand Prix. We hope that this agreement heralds a more stable and secure future for the race and consequently for our industry and sport in the United Kingdom.”

Related Stories:
British Grand Prix agreement reached
British Grand Prix expected to be back on the calendar for 2005
BRDC releases statement regarding the exclusion of the British Grand Prix
The British Grand Prix in doubt for the 2005 Formula 1 season

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