Donington boss denies debt difficulties

Donington Park supremo Simon Gillett has refuted allegations that the circuit has financial difficulties and will struggle to meet the standard expected for its race in 2010. The allegations, made in some parts of the British press over the weekend, said that Gillett’s company Donington ventures was set to post a huge loss for 2008 and currently had operating debts of around €65m. Gillett denied that the company had even made its 2008 figures public yet.

‘Our 2008 financial report has not been filed with Companies House, which leaves me confused as to where certain publications have sourced their “facts” and figures from,” Gillett is quoted as saying by Associated Press.

Moreover, he insisted that the redevelopment plans for the circuit – which will host the British round of the season in 2010 – were progressing well.

‘It’s business as usual at Donington Park and absolutely nothing has changed. Work is continuing on site and all of our staff are completely focused on delivering a full and exciting calendar of events this year ahead of our hosting of the British grand prix in July next year.”

The circuit won planning permission for its extensions and redevelopment last month, but the project has come in for criticism from a number of quarters. Some observers are concerned that the new pit and paddock facilities will be insufficient for a modern F1 event and will suffer in comparison to high-profile new race hosts such as Bahrain and Turkey.