F1 - Donington - may not be

[nopanic - neil]

Saw this today - http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8300268.stm

[Brad Zarse]

Gillett.....The worst a petrol head could get.....

What a prize <insert expletive here>

[garyfrogeye]

I find it hard to believe that Donnington was ever going to get it in the first place. I have felt that it was alway a device to get Silverstone to pay more money over a shorter period of time or at worst to give Bernie an excuse to dump the British GP altogether so that F1 could be tendered out to more fanancially lucrative pastures. It's just that no one ever told Donnington.

[Jules G]

Copied off Crash.net

A statement issued by track operators, Donington Ventures Leisure Ltd, added that the bond had 'failed to secure enough subscriptions'.

The full blurb read:

"Donington Ventures Leisure Limited can confirm that a bond for £135 million to cover the cost of the F1 redevelopment at Donington Park has been unsuccessful.

"Despite higher than expected levels of interest and very positive early indications, the bond - which was launched with Citi Group last week - has failed to secure enough subscription ahead of today's deadline.

"The news dealt an unexpected blow to staff and management at the circuit, who still have a deadline of 12pm on Monday 26 October to remedy a breach of contract with Formula 1 Rights Holder Bernie Ecclestone, in order to keep any plans for retaining the existing 17-year Formula 1 contract alive.

"Information regarding the circuit's future plans is not yet available, however the major focus is on providing security for the Leicestershire venue and all related parties, including staff and suppliers.

[chop456]

I find it hard to believe that Donnington was ever going to get it in the first place. I have felt that it was alway a device to get Silverstone to pay more money over a shorter period of time or at worst to give Bernie an excuse to dump the British GP altogether so that F1 could be tendered out to more fanancially lucrative pastures. It's just that no one ever told Donnington.

My thoughts exactly.

[powermite]

I dont think that anybody who has the slightest interest in F1,thought that Donnington was a non starter.At the time the deal was announced ,we had the contract to redevelope the pits at Silverstone.All that was shelved and we lost a very nice contract

PM

[Lorry]

What a mess,  again.

I think they were always going to have trouble raising the money, as there wouldn't be a commercial return for investors, but a couple of years ago you could do daft deals like that.

The BDRC have known about this for months and have been buttering up Bernie, so Silverstone it is.

[Barry]

.

of other interest to us Jean Todt is t beccome president of the FiA.
[/quote]

FIA have rejected an oppotunity to elect a new broom, not tainted by the previous regime.
Expect more of the same in the future, with Uncle Max looking over Jean's shoulder, getting his grubby little fingers into things.

[Bentley boy]

of other interest to us Jean Todt is t beccome president of the FiA

What an absolute joke   

[Andy Zarse]

Irrespective of our thoughts about F1 another piece of history will become just memories.

Peter, at great personal risk of appearing pedant-like, surely the point about history is that it is memories? 

[Andy Zarse]

...It's just that no one ever told Donnington.

Gary, lots of people told them, it's just that they chose not to listen. 

[Barry]

...It's just that no one ever told Donnington.

Gary, lots of people told them, it's just that they chose not to listen. 

They have been well and truely stiched up by the Poison Dwarf, being used as a pawn in the PD's long running battle/dislike of the BRDC. And as Andy says, a lot of people said they would.

Lets just hope they haven't done to much work to the track for F1, and ruined it for every other form of motorsport, especially the bikes.

[Andy Zarse]

Irrespective of our thoughts about F1 another piece of history will become just memories.

Peter, at great personal risk of appearing pedant-like, surely the point about history is that it is memories? 

darn, another rouse seen through   But seriously, if we loose Silverstone it will only be memories of 2009 and before, no more memrories from then onwards, if you see what I mean

So what you're saying is that there'll be no future memories, and we'll be stuck with the old pre-09 ones! 

[Nordic]

At least Mandy and Bernie have something in common, both egotistical maniacs and Bernie does have 'history' with the labour party!

[Nordic]

http://www.bikesportnews.com/articles/article.html?id=TOM_WHEATCROFT_HAS_DIED_1

More bad news for Donnington, and motorsport in general.