“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 Formula One World Championship calendar,” concurred FIA President Max Mosley, who stressed that he was delighted that the race's future had at last been secured.

“We understand that the development programme planned for Donington will achieve the very high standards we and FOM (Formula One Management – Ecclestone's company) expect from a modern F1 circuit. Finally, British Formula One fans will get the grand prix venue they deserve.”

Donington's history with F1 actually dates back to the pre-war days, prior to the official launch of the world championship, with races held there from 1935 until the outbreak of World War Two. Indeed, the circuit famously hosted the battle between the Silver Arrows of Mercedes and Auto Union (the fore-runner of Audi) in 1937 and 1938.

“We are naturally delighted and extremely proud to have acquired the rights to bring Formula One back to Donington Park from 2010,” read a statement issued by circuit owners and joint CEOs Simon Gillett and Lee Gill.

“At the beginning of last year when we acquired the circuit and its substantial lands, we made clear our commitment towards realising the full potential of the park by making the necessary investments in current and future events that will see Donington revitalised, ensuring its leading position as one of the most iconic racing circuits in the world.

“To that end, we have now entered a new and exciting chapter in the development of the park, and one that will bring significant investment and regional development while securing the future of one of the most important and significant sporting events in Britain.”

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