The managing director of Silverstone Holdings Richard Phillips has described the possible deal bringing the British Grand Prix to Silverstone in 2010 is very, very close.

It is just as well that the deal is close, as recently Bernie Ecclestone said that Silverstone had to sign a contract by the 11th November, or the British Grand Prix will be no more.

Richard Phillips said:

“I don’t think there are any real stumbling blocks, we’re going through the last details of the deal.”

“I’m pretty convinced that it will be run at Silverstone next year.

“There is a lot of detail to go through, so if you make a mistake, there’s a long time to repent.

“You can come to high level agreements quickly, but the devil is in the detail. We’re very, very close.

“We certainly would like the contract to be for more than 10 years – that’s the minimum.

“We always had the faith that the Grand Prix would return.

“We’ve been planning for more than a year, we’ll finish the track works in March and start on the new pits ready for 2011.”