One of the major events is the Formula One World Championships. The event takes place at the Silverstone Circuit, near the village of Silverstone in Northamptonshire. The British Grand Prix is one of the oldest Formula One World Championship events and was first staged at the Brooklands Circuit in 1926. The Grand Prix was first hosted at Silverstone in 1950 and every year since 1987. In 2008 the event was announced to be moved to Donnington Park, in Leicestershire. However the developers failed to raise sufficient funding to complete the circuit and in December 2009, Silverstone was awarded a 17 year contract to host the Grand Prix from 2010 onwards. Despite the controversy that has surrounded the venue for the race in recent years, the British Grand Prix at Silverstone remains one of the world's premier motor racing events.

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