Although Silverstone is included on the draft 2005 calendar issued by the FIA, it would be most unwise to start booking your tickets, the issue is far from resolved.

In the wake of yesterday's announcement, the BRDC gave a measured welcome to the news, then revealed that it must know if it has the Grand Prix by the end of October. Bernie Ecclestone however, has set a mid-December deadline (Dec 10).

The British Racing Drivers' Club (BRDC), owners of Silverstone, want the issue settled before the end of October in order that they can begin preparations for next year's race, however there is still the small matter of the contract and money.

Bernie Ecclestone has offered a one-year deal at £9m, with an option for a further six years. The BRDC wants a two-year deal with a five-year option, furthermore it claims it cannot meet Ecclestone's financial demands.

Ecclestone has said that it's a 'take it or leave it' deal.

In promoting and staging the race, the only money that the BRDC receives is the gate receipts, the remainder, one way or another, finds its way into Bernie's coffers. Therefore after two years when ticket prices have been held down, with some attractive ticket packages on offer, Silverstone would have to increase prices quite significantly.

Furthermore, next year's British Grand Prix - scheduled for July 3 - will clash with the men's final at Wimbledon, one of the biggest events on the sporting calendar.

The issue is far from settled.

Footnote: Whatever happened to Nigel Mansell and the Brand Synergy bid?