Donington deadline passes

Deadline: Donington Park

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Donington Park's ambitions of hosting the British Grand Prix have come to nothing after a deadline for the track's operators to show they have the necessary funds to upgrade it for Formula One expired.

There was no immediate comment from Donington Ventures Leisure Limited but Bernie Ecclestone, who had handed the Leicestershire track a 17-year contract to host the race starting next year, said on Monday night their efforts were now over.

Donington organisers said in a statement on Friday that a £135million bond they had issued in a final attempt to secure funding had failed to gain enough subscribers.

Ecclestone had given them until noon on Monday to remedy a breach of contract or lose the race.

Formula One's commercial rights controller has said that Silverstone, which hosted the race exclusively between 1987 and this year, will be offered the chance to take over.

However, the British Racing Drivers' Club, which owns Silverstone, has said it will only sign a contract that makes financial sense, with Ecclestone in turn unwilling to give the Northamptonshire track special treatment.

"I want a British Grand Prix, of course, but we are not going to do special rates for Britain," he told the Daily Express last week.

"If they (Silverstone) can't make it work then don't do it. If that happens, there won't be a British Grand Prix. Simple as that."