The British Grand Prix will take place at Brands Hatch, as of 2002.

"Brands Hatch Leisure", owners of the Brands Hatch track, have announced today that they have signed a five-years deal with the FOA, to host the British Grand Prix as of 2002, after the FOA's deal with Silverstone expires.

The Brands Hatch circuit, which last hosted a Formula One when the European Grand Prix of 1986 was held there, will be modernised and revised, with a budget of 30 million dollars.

"I am delighted to have secured the future of Grand Prix racing in Britain beyond 2001," said today Brands Hatch's director, Nicola Foulston. "I look forward to making this the biggest and most successful Grand Prix ever."