F1 Grand Prix situation a huge disappointment for Derby

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Business leaders near Donington Park   said they were "hugely disappointed" at the current situation with the British Grand Prix not secured at the venue yet.

The track's operators have failed to raise £135m to upgrade facilities and face a Monday deadline to come up with another plan for Formula One bosses.

Engineering, construction and hospitality firms had all hoped to benefit from F1 coming to the area.

When it was announced that Donington had won the right to host the British Grand Prix in July 2008, it was seen as a huge boost for the East Midlands and an opportunity for hundreds of businesses.

But since then the track's operators, Donington Ventures Leisure Ltd, have missed a series of deadlines to prove they have the financial backing to see the project through.