Jul.4 (GMM) Donington Park's newly announced contract for the British grand prix is a ten-year deal beginning in 2010, the circuit clarified on Friday.



In a surprise move, it was announced by the FIA and Bernie Ecclestone that Donington, scene of the 1993 European grand prix, had captured a deal to take the sport away from its current venue, Silverstone.



Donington circuit owners and joint CEOs Simon Gillett and Lee Gill explained in a statement that details of the redevelopment will be announced "at a future date".



They did say, however, that the "master plan" involves a five-year investment programme of 100 million pounds, "led by a private investor who is also a large shareholder".



Other talks with "important third parties" are also taking place, the CEOs added.