Silverstone has officially opened its new Arena Grand Prix circuit, a £5 million development that will be used this year.
Arena circuit to be used for F1, MotoGP and World Superbikes
Silverstone has officially opened its new Arena Grand Prix circuit, a £5 million development that will be used in Formula One, MotoGP and World Superbikes later this year.
The opening ceremony was performed by the Duke of York, who was then given a passenger ride around the now 5.9 km-long track in a two-seater Formula One car driven by 1996 world champion Damon Hill.
The re-design has stretched its length to 3.66 miles, cutting out Bridge and Priory, instead heading infield from Abbey, onto the newly-named Farm Curve, Village corner, The Loop, Aintree corner and Wellington Straight, before rejoining the old track at Brooklands.
It is the first step in a £40 million overhaul of the Northamptonshire circuit which will also bring a new pit and paddock complex in time for next season's British Grand Prix.
Donington Park had earlier prised the race away from Silverstone but the Leicestershire track's own attempts to stage it fell apart amid financial problems.
Having lost the British Grand Prix, Silverstone managed to poach the country's MotoGP race back from Donington and, with the latter left in a state of disrepair, it has also taken the World Superbike race.
Important day
The unveiling ceremony also saw the Bishop of Brixworth, Rt Rev Frank White, conduct a blessing, before David Coulthard, Mark Webber, Ron and Leon Haslam sprayed champagne.
Hill, also president of the British Racing Drivers' Club which owns the track, told assembled guests including Red Bull team boss Christian Horner, Sir Jackie Stewart and Mercedes CEO Nick Fry that it was "a very important day for Silverstone, but also UK motorsport.
He said: "Richard Phillips (Silverstone managing director) and his team have done a fantastic job under extremely difficult circumstances, not only acquiring the grand prix, but also bringing Moto GP and World Superbikes here.
"A word of thanks also must go to Neil England (the non-executive chairman of Silverstone Holdings) for beating down Mr (Bernie) Ecclestone as much as he could to get the very best deal for 10 years."
Silverstone has agreed a 17-year contract with Ecclestone to host the race, the deal having an escape clause after 10 years should they struggle to meet their financial commitments.
In agreeing new terms and undertaking the development, Hill admitted the BRDC and Silverstone are "stretching things much further than they've been stretched before" and said they were to an extent relying on successors to Jenson Button and Lewis Hamilton coming through the ranks.
"There was an understandable reluctance to take on too much risk, but event promotion and venue operating is a risk business," he added.
Necessary risk
"It's a necessary risk. The alternative was that the British Grand Prix would have gone off the calendar.
"There is a justification to demand first-class facilities if you have a first-class event like Formula One, and others like MotoGP, but it has to make financial sense.
"Right now we are where we are, and it's full-steam ahead. There's no way back from here.
"We are relying a little on this country's tradition of producing world-class drivers who potentially drive people through the gate.
"We've had them on a consistent basis, the whole time grand prix racing has been in existence.
"There was a lull between (James) Hunt and (Nigel) Mansell, but we're trusting we continue to be at the front of the sport and where we are at the moment with Hamilton and Button."
MotoGP riders will have the first opportunity to race on the new track on June 20, with F1 visiting Silverstone for the British Grand Prix on July 11 and World Superbikes on August 1.
