F1: British grand prix saved

The British Grand Prix has been saved after Formula One bosses struck a deal to allow the race to carry on being staged at Silverstone, the track's owners announced today.

Silverstone Circuits Limited said Formula One chief Bernie Ecclestone had agreed a deal that will allow the famous venue to host the race for the next 17 years.

The future of the oldest race on the Formula One calendar had been in doubt after rival venue Donington, which had been granted hosting rights from 2010, failed to raise the redevelopment funds it needed to be able to stage the race.

Donington fell out of the running in October after missing a series of financial deadlines set by Ecclestone.

That left F1 organisers with a choice between going back to Silverstone, which was stripped of the race last year because of a dispute over the upgrading of the venue, or the more lucrative option of moving the race to another country.