Silverstone bosses have expressed disappointment at losing the MotoGP contract to Circuit of Wales from next year but said the sanctioning fee to host the event is too expensive.

It is thought that Dorna expect circuits to pay €5M or more to host a round of MotoGP and that is without all of the ancillary costs associated with an event of that size.

“We have expressed our desire to keep MotoGP™ at Silverstone, but the event is not sustainable at the fee level Dorna was proposing. Any future deal had to make economic sense and sadly we reached an impasse. The Circuit of Wales obviously believes it can make the finances work,” said Silverstone’s Richard Phillips.

However, Phillips is doubtful that the Circuit of Wales will be ready before 2017 so is in a scrap with Donington Park’s Chris Tate to step in for at least the 2015 event.

“Should the Circuit of Wales project be successful, it is unlikely that it will be ready before 2017. A venue for 2015 needs to be agreed as soon as possible to avoid having a negative impact on the success of next year’s British Grand Prix. Silverstone remains the ideal venue to stage MotoGP™; last year’s record crowds are testament to the excellent British Grand Prix experience provided by Silverstone.”