'Before and after' aerial photos of Donington Park racetrack show the amount of work that remains uncompleted
A motorsport expert has said he doubts Donington Park will ever be able to host Formula One races.
Donington Ventures Leisure Limited went into administration on Wednesday just weeks after failing to raise enough money to host the British Grand Prix.
Administrators said they hoped to find a buyer who would step in and complete the current work on the track.
But Matt James from Motorsport News said any investor would struggle to get the venue ready in time.
In its last financial statement in 2007 Donington Ventures Leisure Limited was more than £66m in debt.
If Donington is not ready by June of next year, I'm afraid it is not going to host a Grand Prix at all
Matt James Motorsport News
But after it won the contract from Silverstone in 2008, early indications were that the funding was in place.
However, the global economic downturn resulted in potential investors backing off and a final bond issue in October failed to raise the required £135m.
New aerial pictures have shown a substantial amount of work has already been done to the track, but returning it to a state in which it could host any international track event would need further investment.
Mr James said he felt the chances of Donington hosting a Formula One race were all but over.
"Silverstone would step in to the breach but they want a long term deal, which would cut Donington out of the deal completely.
"If Donington is not ready by June of next year, I'm afraid it is not going to host a Grand Prix at all."
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