Ecclestone offers Silverstone new deal

Formula One supremo Bernie Ecclestone has declared an end to Donington Park's ambitious plans to host the British Grand Prix and offered Silverstone the chance to keep the race on the calendar.

The commercial supremo told London's The Times newspaper yesterday Donington Ventures' efforts to raise the funds needed to develop the circuit were over.

Donington said in a statement last Friday that a 135 million pound bond had failed to secure enough subscribers and they had until noon on Monday to remedy a breach of contract or lose the race.

That deadline came and went without comment, although Ecclestone told reporters it was actually midnight yesterday.