Silverstone has lost the contract to host the British Grand Prix of the MotoGP. The event will take place at the Northamptonshire circuit next month. But now a five-year deal has been signed to hold future meetings at the not-yet-built Circuit of Wales, which will be near Ebbw Vale in South Wales.
Bosses at Silverstone racing circuit said they were disappointed to have lost the MotoGP British Grand Prix - but that extending their contract did not make financial sense.
The circuit said it had invested heavily to develop its site specifically to host both the Moto GP championships and Formula 1 and had helped to make the series a successful event.
But Richard Phillips, managing director of Silverstone Circuits Limited, said it could not come to an agreeing with the Dorna, the event's rights holders.
But the circuit has not rule out hosting the British Grand Prix next year while the event waits for the Circuit of Wales to be completed.
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