Donington Park chief Simon Gillett insists the retention of the British Grand Prix is essential - whether it be at his Leicestershire circuit or traditional venue Silverstone.

Bosses at Silverstone claim they are close to agreeing a 10-year staging agreement to host Formula One in this country but Gillett, chief executive of Donington Ventures Leisure Limited (DVLL), insists it remains a two-way tussle. But with F1 rights holder Bernie Ecclestone setting a December 9 deadline for a deal to be done for a British race next summer, time is running out.

Whatever occurs in the battle of the midlands tracks, however, Gillett said of Britain hosting a race in 2010: "To me, it's bloody essential. Personally I think we should have a British Grand Prix and it is a shame that other people within the UK don't agree with that."

He added: "No one is ever looking for a free handout from government but there certainly should be more support from central resources to make sure we have a grand prix.

"It is criminal when you see Wembley receiving £140million free money from the government for what is a very rich man's sport and they will not give a penny to the British Grand Prix whether it is Donington or Silverstone.

"They won't come near the sport, which is a real shame."

Half-a-dozen investors are currently weighing up their options with regard to Donington, according to Gillett, who secured a 17-year contract to host Formula One in July last year only to have the offer withdrawn following failure to secure the £135million funding required to redevelop the site.

"[The money] is not from the traditional places that people might look to," said Gillett.

"The minute you say you are looking for finance, everyone looks to the middle-east and assumes it is from a Saudi prince.

"But ours has come predominantly from mainland Europe and in the UK itself."