Silverstone race circuit in Northamptonshire is making its final preparations ahead of this year's British MotoGP.Read the full story ›
Bosses at Silverstone racing circuit said they were disappointed to have lost the MotoGP British Grand Prix - but that extending their contract did not make financial sense.
The circuit said it had invested heavily to develop its site specifically to host both the Moto GP championships and Formula 1 and had helped to make the series a successful event.
But Richard Phillips, managing director of Silverstone Circuits Limited, said it could not come to an agreeing with the Dorna, the event's rights holders.
“We have expressed our desire to keep MotoGPTM at Silverstone, but the event is not sustainable at the fee level Dorna was proposing.
"Any future deal had to make economic sense and sadly we reached an impasse. The Circuit of Wales obviously believes it can make the finances work.”
But the circuit has not rule out hosting the British Grand Prix next year while the event waits for the Circuit of Wales to be completed.
"A venue for 2015 needs to be agreed as soon as possible to avoid having a negative impact on the success of next year’s British Grand Prix.
"Silverstone remains the ideal venue to stage MotoGP.
"Last year’s record crowds are testament to the excellent British Grand Prix experience provided by Silverstone."
Silverstone has lost the contract to host the British Grand Prix of the MotoGP.
The event will take place at the Northamptonshire circuit next month.
But now a five-year deal has been signed to hold future meetings at the not-yet-built Circuit of Wales, which will be near Ebbw Vale in South Wales.
It will host its inaugural event in 2016 with MotoGP's official website suggesting next year's British Grand Prix could take place at yet another venue.
Since the beginning of the British motorcycle Grand Prix in 1977, only the courses at Donington and Silverstone have been used.
Silverstone has come to the end of its own five-year deal.
The Circuit of Wales could have its contract extended by a further five years if the deal proves to be a success, meaning Silverstone would have to wait until 2024 to bid again for the event.
The brother-in-law of a man who died at the Silverstone Classic meeting at the weekend has described him as "a winner."
Denis Welch, from Staffordshire, was driving a 1960s sportscar during the event.
Byan Downes says Dennis was a wonderful mechanic.
Read more here.
Pictures have been released of the man who died at the Silverstone Classic meeting at the weekend.
Denis Welch from Staffordshire was driving a 1960s sportscar during the event.
Mr Welch ran a motor spares business for classic cars.
A spokesman for Silverstone Classic has confirmed that a participant in this weekend's event had died following a racing accident.
The man has been named as Denis Welch.
"It is with great regret that the organisers of the Silverstone Classic have to report that, following an accident in a race for HGPCA pre-66 Grand Prix Cars today, Sunday 27th July, the driver of car number 19, Denis Welch, succumbed to his injuries later in the circuit’s Medical Centre."
A Northamptonshire team is hoping for success at the British Grand Prix this weekend.
Click above to watch a short clip from Sahara Force India's Chief Operating Officer Otmar Szafnauer.
There will be a number of road closures for the British Grand Prix at Silverstone this weekend.
- The A43 will be closed to through traffic from 5am-9pm 4th/5th/6th July between Towcester and Welsh Lane (B4525)
- Local diversions will be managed by the Highways Agency
- Local residents will have been sent leaflets detailing the diversions
Hundreds of thousands of people will be travelling to Northamptonshire for what is the largest event in the UK. We will be monitoring traffic levels throughout the weekend. If you are travelling to the Grand Prix please adhere to signage as you approach the circuit as local road closures and diversions will be in place.
For more details on road closures, go to the Highways Agency website.
The British Grand Prix takes place at Silverstone in Northamptonshire this weekend.
One of the teams hoping their drivers will come out on top are based closest to the circuit, Sahara Force India, and they're looking for a strong showing on Sunday.
Chief Operating Officer at Sahara Force India, Otmar Szafnauer said. "Last year we finished 6th, so our objective is to be 5th or higher this year and I think we're well on our way to achieving that, although it's early and there's still a lot of races left."