F1 » Ecclestone signals end of Donington’s F1 hopes

F1 commercial rights holder Bernie Ecclestone confirms that Donington's hopes of staging the British GP are over

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Biggermouth2009 - Unregistered

October 29, 2009 4:16 PM

Finally some closure!

Sorry sports fans, i know some people have 'bet the farm' on Donington.

I bet there will not be the sort of closure that the contractors and those owed fortunes by Donington would have hoped for. I wish those involved and owed monies all the best grabbing their bit of the £72m debt owed by DVLL ltd.

Lead - Unregistered

October 29, 2009 4:43 PM

Every right thinking race fan saw this coming as soon as the initial announcement was made. There was no finance in place, not enough time and doubts over the ability of those running the project to see it through.

BATMAN - Unregistered

October 29, 2009 5:05 PM

I hope Gillett is reflecting on what an idiot he is. He is not a victim of the credit crunch, but a victim of his misplaced ego. Anyone that believed in his vision was equally unhinged. I think this year has shown 2 stupid stories, this and Piquet.
So at least we got something. My heart goes out to suppliers and local infrastructure that have got sucked into this black hole. I assume this was a bargaining chip for BE towards the BRDC, but Gillett's ego lead him to believe that he could complete this. Never again will this worm of a man show his face within the motor sport community, and to pay himself 250,000 a year for his crap is worse than the current MP"s. Merry XMAS Gillette, B+Q 4 U

BATMAN - Unregistered

October 29, 2009 5:18 PM

Financing was in place....

If the finance was in place it would not have been able to be pulled. I have processed over 50 projects of this size, and not one that was properly financed prior to the crunch has been dropped. I can tell you that the finance was dropped after due dilligence into the previous affairs of Gillett, and that the all important numbers were grossly inaccurate. Bankers are not stupid, we will look at every number and scrutinise viability. This project never held water, and I am pleased that the games have stopped, and the reality can proceed. Lets all hope and assist Donington in returning to it's pre DVL state.

Paul Buckland

October 29, 2009 5:29 PM

It's wrong to blame the credit crunch, that was going on at the time all this nonsense started, not since. Lunacy to try to raise funds for this in the current world economic climate. Clearly the finance wasn't in place to start with, Gillett said as much at the time. Silverstone isn't perfect as I've mentioned plenty of times before, but it is there and is being improved all the time. I'm just sad for Donnington, and I hope it recovers, but this may be the end for it.

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