Donington boss Simon Gillett said on Monday he had been given another two weeks to provide financial guarantees.
But Formula 1 supremo Bernie Ecclestone denied that amounts to a new deadline. "
We haven't decided to give Gillett another deadline at all. We have informed him he is in breach of contract." he told the Daily Telegraph. "
The contract which we have gives him 14 days to remedy the breach. Most business contracts are like that."
...
British Racing Drivers' Club president Damon Hill has intimated that a longer-term deal would be needed to make it practical for Silverstone to reach the required standard to stage the race. "
I'd like to see an end to the continuing saga of 'is there going to be a British Grand Prix or not?'" Hill told BBC Radio 5 live. "
I think it's about time that we had a venue that can be developed to provide the best sort of facilities. We do lag behind some of the great stadiums we have in this country for football. We want to provide a really great venue for the fans but in order to do that we will need to have the kind of contract which provides enough scope to develop the facility without too much risk to the company going bust."
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8300268.stm