Mandelson urges British GP deal

Ecclestone: Talks

All I would say is come on you guys, get your act together, get your negotiations done and make the British Grand Prix safe.

Lord Mandelson
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Secretary of State for Business Lord Mandelson has urged Silverstone bosses and Bernie Ecclestone to strike a deal to secure the future of the British Grand Prix.

As talks continue between the two sides at the Abu Dhabi Grand Prix, Lord Mandelson stressed the importance of the race as the totem of an industry worth £4billion per year to the British economy.

However, he once again insisted that taxpayers' money would not be used to help broker an agreement with Formula One's commercial rights controller.

Lord Mandelson told BBC Radio 5 Live's Sportsweek programme: "The British Grand Prix is a very important event, it's a much loved British institution and it's got to continue.

"The whole of motor sport is important, not because of the enjoyment it provides but because it's really important for our economy.

"It contributes getting up to £4billion to the economy and if you look at the jobs it creates there are 25,000 engineers involved in this sport in Britain, quite apart from 40,000-odd other jobs, so I have a responsibility to retain it and to support the motor sport industry just as I would any other."

The grand prix was thrown into doubt when Donington, which had won a 17-year contract to host the race, missed a deadline to prove it could raise the £135m it needed for circuit upgrades.

No bale out

Lord Mandelson insisted the government would apply pressure for a breakthrough but said they would not be providing Silverstone the £12m needed for next year's race.

"I'm not in a position to use taxpayers' money to bale out what would be a sort of commercial venture in a very cash-rich sport," he added.

"I can't do that, especially during a recession, but he (Ecclestone) has my backing in what he's trying to do.

"But he also has my pressure to make sure that just by accident we don't lose the Grand Prix from this country. I don't want to see that and it would damage us, it would damage our sport but it would also damage our economy.

"All I would say is come on you guys, get your act together, get your negotiations done and make the British Grand Prix safe."

When asked whether he believed the grand prix would take place at Silverstone next year Lord Mandelson replied: "If I was a betting man I would say yes."