Ecclestone: F1 does not need British GP

Bernie Ecclestone insists Formula One does not need the British Grand Prix as negotiations continue over the hosting of the race from 2010.

Donington's bid to stage the event collapsed after the failure of a bond scheme to raise the necessary £135million for redevelopment of the circuit."Silverstone have a contract in front of them. We've no commercial arrangement in place for a British Grand Prix for next year. That is why the race has an asterisk beside it on the 2010 calendar," Ecclestone told the Daily Express. "If they can't make it work then don't do it. If that happens, there won't be a British Grand Prix. Simple as that."

He added: "No-one is forcing them to take it. This is business. We have offered them a deal."

Silverstone has been left as the likeliest setting for the race, but track officials are are stalling over the terms of the contract being offered by Formula One rights holder Ecclestone.

The deal is thought to be similar to the one offered - and rejected as a financial loss-maker - 18 months ago.

Ecclestone ruled out the prospect of Britain being given a discount rate, similar to those enjoyed by Monza and Monaco as the sport's "traditional" grands prix.

"The contract they have is the contract we like," he said. "We are not prepared to charge less. Do we need a British Grand Prix? No.

"I want a British Grand Prix, of course, but we are not going to do special rates for Britain."