Silverstone wait on Ferrari - 10th November 21:41pm GMT

Formula One’s teams last night put on a united front to come to the rescue of the British Grand Prix with a £20 million package that should put the nation’s most important motor race back on the calendar next year. The teams moved to break the deadlock of stalled negotiations between executives at Silverstone and Bernie Ecclestone, the sport’s promoter, that have dragged on for months.

Only Ferrari, who were not at yesterday’s meeting, or the FIA, the governing body, could now scupper a deal that will be put immediately to the British Racing Drivers’ Club, which owns the circuit. The Italian team will now be under pressure to fall into line, even though they will be expected — as world champions and the biggest team in the sport — to take one of the biggest losses, as much as £3 million.

Even Ecclestone, who had given up on being able to do a deal with Silverstone, bowed to the wishes of the teams — seven of which are either based in Britain or have significant connections here — and will make his own financial contribution by paying £10 million towards the costs of the teams. The deal also includes attending the French Grand Prix, which was also in danger.

He said: “In 25 years or more in this sport, this is the most productive meeting I have ever been to. Frankly, we have not got a contract with Silverstone yet, but I would be shattered — and so will the teams — if we do not have a British Grand Prix after all the effort that has gone into raising this deal.”

The decision is remarkable for the fact that everyone in Formula One, with its dubious reputation for having a voracious appetite for money, is prepared to take a loss if it means that its most historic races can be saved from falling victim to commercial pressures.

The FIA, which polices each race with a large army of technicians and stewards, will also be forced to fund the extra cost of putting on two more races in Britain and France next year. That could lead to questions when the FIA meets next month to confirm the 2005 calendar, but Max Mosley, the FIA President, is likely to be in persuasive mood after warning that Formula One dispenses with its traditional races at its peril.

That just leaves Ferrari, who did not send a representative to yesterday’s summit as Jean Todt, their sporting director, was on holiday in the United States and Ross Brawn, the technical director, was attending his mother’s funeral.

The package drawn up over coffee and sandwiches at the Hilton Hotel, Heathrow, was a true change of direction for a sport riven for years by in-fighting and self-interest. The big teams will be expected to make a significant financial sacrifice, as will the smallest teams. Paul Stoddart, principal of Minardi, the sport’s minnows with a budget around a tenth of Ferrari’s, estimated his losses to be around £350,000. But that did not stop him voting to bring back Silverstone and the race at Magny-Cours in France.

“For once, the teams are showing that they can make decisions for the good of Formula One and not just themselves,” he said. “Nine teams have done all they can and we just have to hope that Ferrari and the FIA do not block us. We are not ganging up on Ferrari and we hope they will come towards us on this.”