As predicted in the latest issue of Octane, Donington has won a contract to host the British Grand Prix for ten years from 2010.

The owners of Donington circuit, Simon Gillett and Lee Gill, say they will be investing £100 million in lengthening the track and improving the facilities to make them suitable for a modern Grand Prix. Money has been Silverstone’s biggest problem, for the British Racing Drivers Club, which owns the circuit, was keen to keep hosting the British Grand Prix there – but not if it meant bankrupting the Club.

‘It is particularly disappointing to receive this information during the course of the British Grand Prix weekend, while we are celebrating 60 years of Silverstone and 80 years of the BRDC,’ said the Club in a statement – although some unkind souls are suggesting that the timing may not have been entirely accidental, since it’s well known that the BRDC and Bernie Ecclestone don’t always see eye to eye.

Ecclestone himself said of the new deal: ‘I am sorry that we could not have helped Silverstone to raise the money to carry out the circuit improvements and run F1.

‘I believe that the Government should have supported them, which would have cost probably less than .002% of the Government's commitment for the Olympic Games.’

Max Mosley, president of the FIA, commented: ‘After many years of patient but fruitless negotiation with the BRDC, we are delighted that Bernie has nevertheless been able to ensure that the British Grand Prix will keep its place on the F1 calendar.

‘It's a huge blow to Silverstone but at least it's very good news for British fans, whose race will still be on the calendar a year after the contract finishes.

‘We understand that the development programme planned for Donington will achieve the very high standards we expect from a modern F1 circuit. Finally, British fans will get the venue they deserve.’

Although on the face of it this is fantastic news for Donington, questions are already being asked about the practicalities of making all the necessary circuit and infrastructure improvements before the 2010 British Grand Prix. Road access in the immediate vicinity is poor, and there is also the thorny issue of obtaining Planning Permission.

The latter is a real problem, and one that sank Brands Hatch’s attempt nine years ago to host the British Grand Prix: it couldn’t get the necessary Permissions and had to pay to get out of the contract – and so the race ended up staying at Silverstone.