Honda F1 website

AUGUST 23, 2003

Bernie and Silverstone

The latest word in Formula 1 circles is that Octagon, the company which owns the promotional rights to the British Grand Prix, is considering a deal to hand the rights back to Formula 1 boss Bernie Ecclestone. We hear that as part of the deal Ecclestone would take over control of the four racing circuits owned by Brands Hatch Circuits Ltd and that he would receive a healthy sum of money to allow the US firm to get out of its commitments. The next step would then be for Ecclestone to negotiate a deal to lease Silverstone from the British Racing Drivers' Club as the current deal between the BRDC and Octagon is thought to be non transferable. If an arrangement can be struck Ecclestone, the BRDC and the local government would then all work together to find funding for the reconstruction that is needed at Silverstone.