Grand Prix project 'will succeed'

Donington Park last hosted a grand prix in 1993

The owner of Donington Park has insisted the British Grand Prix will be held at the circuit in 2010.

Simon Gillett dismissed reports that financial problems would prevent the completion of improvements to the site in time to hold the event.

Planning permission was granted in January for a £100m revamp of the circuit including a new pit complex and extension to the track.

Construction work on the improvements started last week.

Mr Gillett dismissed suggestions he would struggle to find the money to implement his plans in the current economic climate.

In a statement, he said: "It's business as usual at Donington Park and absolutely nothing has changed.

Our plans are not dreams, but vision...we will succeed Simon Gillett, owner of Donington Park

"Work is continuing on site and all of our staff are completely focussed on delivering a full and exciting calendar of events in 2009 ahead of our hosting the British Formula One Grand Prix in July 2010.

"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.

"Our plans are not dreams, but vision...we will succeed."

The new facility will feature a race control centre and a media centre with the pits fitted out to the latest specifications.

The track will also be lengthened to three miles (4.8km).

It last hosted a grand prix in 1993 when Ayrton Senna won the European Grand Prix.

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