Wheatcrofts say Donington racetrack deal expected soon

The cost of restoring the track has been estimated at �600,000

A deal to secure the future of Donington Park racetrack could soon be agreed, according to its owners.

The East Midlands circuit ran into problems after a deal secured by the operators to host the Formula 1 Grand Prix collapsed.

The lease reverted to the Wheatcroft family in December who have been looking for new partners since.

They have now said they are in the final stages of negotiations with about five interested parties.

Donington Ventures Leisure Limited won the right to stage the British Grand Prix, from 2010, in the summer of 2008.

Repair costs

But the firm struggled to attract enough investment to pay for upgrades to the track and facilities and went into administration in late-2009.

Work that had already been carried out on the circuit meant it was no longer able to host any motorsport events.

The administrators then failed to find a new buyer so the 150-year lease reverted to the Wheatcrofts.

But Kevin Wheatcroft said the present negotiations were going well.

"We are currently trying to get our heads around those last few offers and pick the best way forward," he said.

"There is a willingness on our behalf and I think on the behalf of the other parties to get Donington up and running.

"There is a general desire from both sides to get on with it as quickly as possible."

He added a report on the costs of getting the track back to racing condition, already estimated at £600,000, was being finalised.

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