The British Grand Prix will continue at Silverstone after Formula One chief Bernie Ecclestone and the track’s owners agreed to a 17-year deal.

Donington Park was stripped of the right to host next year’s British GP after efforts to raise funds for a necessary upgrade failed and the race had been in doubt.

Donington was awarded the staging rights last year but Donington Ventures Leisure Limited failed to find buyers for seven-year bonds that it hoped would generate 135 million pounds to fund rebuilding work to bring the track up to standard.

Silverstone has staged the British GP, the oldest race on the F1 calendar, every year since 1987 and continued to plan for the 2010 race even after Donington secured the race.

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