We have held off taking legal action for as long as possible, but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.

Further doubts over the future of there being a Formula One race at Donington in 2010 have been cast as details emerged of a legal wrangle between the organsers of next year's race and the circuit owners became public.

Wheatcroft & Son Ltd, owners of Donington Park, are chasing suspected debts for rent of the circuit from Donington Ventures, of figures around £2.47 million. The news of the Donington switch came before last year's race at Silverstone, with the Derby-based track set to host the race for ten years, having been home to the European Grand Prix in 1993.

Although Donington Ventures did not release a statement, Wheatcroft stressed the situation: 'We have held off taking legal action for as long as possible, but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.'

Former F1 World Driver's Champion and head of the British Racing Drivers Club, Damon Hill, told BBC Radio 4 that it was a distinct possibility that Bernie Ecclestone could take over the event himself, with suitable backing from the British government.

Kevin Wheatcroft of Wheatcroft & Son Limited said: 'It is with great reluctance that we have taken this decision. Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease.'