British Grand Prix ‘close to being saved’ by funding package

THE British Grand Prix at Silverstone is close to being saved with British government officials hopeful an announcement will be made tomorrow.

Talks between Formula One chiefs and Silverstone’s owners are understood to be at an advanced stage and a statement is expected before the start of this weekend’s Japanese Grand Prix in Suzuka.

The British government has refused to use taxpayers’ money to bail out the British Racing Drivers’ Club (BRDC) but it is thought an incentives package for the circuit, arranged through the East Midlands Development Agency, could smooth the way for an agreement.