Donington set to lose F1 Grand Prix

Donington Park’s bid to stage Formula 1 racing appears to be over after the operating company, Donington Ventures Leisure, withdrew a £135m bond issue. The bond issue was widely viewed as a last ditch attempt to raise the money to complete the track's upgrade and Sir Robert McAlpine was on stand-by to start its own race against time to complete the work before next year's British Grand Prix in July.

Preparatory groundwork has been undertaken in the last few months but the future direction of the work is currently unclear. It is likely that the 2012 British Grand Prix will take place at Silverstone.