The British Grand Prix has been dropped from the Formula One calendar for the first time in the sport's history.
Formula One supremo Bernie Ecclestone had given Silverstone owners the British Racing Drivers' Club until close of business on Thursday to meet his financial demands.
The two parties are believed to be around £3million apart on the annual cost of rights to the race and Ecclestone pulled the plug.
He has omitted the race, which this year was a 100,000 sell-out, from his provisional 2005 calendar, which goes before the FIA's world motor sport council on October 13.
Ecclestone has been a fierce critic of Silverstone over recent years, attacking facilities at first but moving on to demand the BRDC pay at a similar rate to races throughout Europe.
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