Damon Hill confident 2010 British GP will go ahead

Former Formula One world champion Damon Hill is "quietly confident" a deal will be done to ensure the British Grand Prix will take place next year.

Hill is president of the British Racing Drivers' Club, owner of Northamptonshire's Silverstone circuit which has hosted the British GP since 1987.

The British GP was due to move to Donington in Leicestershire but this fell through last month when its promoter, Donington Ventures Leisure, failed to secure the £135million funding needed to bring the track up to F1 standards.

DVL officially went into administration on Monday and the lease on the circuit will be sold to clear the company's debts. Last week F1 supremo Bernie Ecclestone hinted that the series could still race at Donington in 2010 "if someone comes along with the right ideas and funding".

Ecclestone added that if a deal is not done with Silverstone by 9 December, which is when next year's calendar is formalised, the British GP will be removed from the 2010 schedule. The sticking point in the negotiations between Ecclestone and the BRDC has been the annual fee for the race which is believed to be £12m increasing by 10 per cent per year.

The BRDC are owned by their 850 members who include current F1 champion Jenson Button as well as former champions Nigel Mansell and Lewis Hamilton. Yet despite their wealthy owners, any profits made by the BRDC are ploughed back into Silverstone leaving it with limited resources.