Monday D-Day for Donington

Gillett, the CEO of Donington Ventures Leisure Ltd, has long been plagued with financial problems since winning the rights to stage the race from next summer.

The rumours, however, on Friday night intensified amidst suggestions the financial plug had been pulled by Gillett's primary backers.

Just a fortnight ago Formula One supremo Bernie Ecclestone voiced his concerns, confirming Donington Park's problems were financial and that Gillett was struggling to get the money together.

Gillett was initially given a deadline of the end of September to prove he had the funding in place to carry out the multi-million pound facelift required for the track to stage the race.

That deadline was extended by a few days until October 3, and when that passed, Gillett was told he had until this weekend to address the matter.

With Gillett effectively swimming against the tide, it is believed the gravity of the situation increased earlier today, and that the finances were withdrawn.

However, it is understood Gillett has managed to partly salvage a dire situation, and now goes into Monday's meeting with his and the circuit's hopes on the line. Ecclestone said: "The deadline is this weekend, and we will see what happens on Monday."

Beyond Monday it is unlikely there will be a further reprieve as it will leave little time for the construction work to be completed as the race is scheduled for July 11, the day of the World Cup final.

This latest news will put Silverstone on red alert to step into the breach, as has long been suggested they would do given the problems faced by Donington.