Ecclestone rules out Donington race

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Speaking at the Abu Dhabi Grand Prix, in the paddock of the new Yas Marina circuit, Ecclestone said: "There's no Donington. They've missed the deadline which we kept extending for them."

Donington's final deadline is understood to have been midnight on Tuesday, despite earlier suggestions it was noon on Monday. Regardless of the specific timing, the Leicestershire circuit's ambitious plan to host one of British sport's blue riband events is officially dead in the water.

It had been suggested Simon Gillett, chief executive of Donington Ventures Leisure Ltd, had paid a £12million security owed to Ecclestone to keep the deal alive, but the Formula One supremo stated that was not the case.

Ecclestone added: "It's unfortunate for them.

"It was the credit crunch that caused them to be in trouble - because there intentions were good, that's for sure."

As far as Ecclestone is concerned, the ball is now in Silverstone's court to agree a deal they shied away from 18 months ago - and which resulted in Gillett poaching the race from their grasp.

Silverstone Holdings stalled then, not because of the £12million annual asking price to host the race, but because of a seven per cent yearly increase clause.

Ecclestone said: "We're talking. A deal can be done if they want to."

Asked if there was a difference of opinion over the details, he replied: "There isn't actually. As far as I'm concerned, no problems."