Donington Park s owners have confirmed that they have reached an agreement settlement giving British Grand Prix fans hope for the future. The settlement has been reached after court proceedings were issued by Browne Jacobson LLP, acting on behalf of Wheatcroft & Som Ltd, seeking £2.47 million in rent arrears and forfeiture of the circuit lease.
The two parties have also agreed on the terms of the planning agreement required for planning permissions for the circuit revamp.
Kevin Wheatcroft of Wheatcroft & Son Limited commented, “We are pleased that significant progress has been made in recent weeks and I am delighted that we have now reached an amicable agreement.
“We have always shared and supported the vision of ensuring that Formula One returns to Donington Park and are hopeful that, with the settlement achieved, that vision will be turned into reality.”
DVLL Chief Executive Simon Gillett said, “This is another positive boost for Donington Park. We were always aware that saving the future of the British Grand Prix was an enormous task, but it is one that we are fully committed to and will make happen.
“So far, all of our efforts have been achieved in the face of adversity and it s reassuring to know that the Wheatcroft family shares our vision and passion for British motorsport.â€