A London Grand Prix has not taken place since 1938. Although according to an announcement made by Formula One boss, Bernie Ecclestone, plans are in motion to return Formula One to the streets of London.

Under the £35 million scheme, Formula One cars would speed around the capital, with the likes of Alonso, Sebastian Vettel and Lewis Hamilton shooting past some of London’s most iconic landmarks, including the Ritz Hotel, Hyde Park Corner, Buckingham Palace, Parliament Square, the Embankment and Trafalgar Square.

The London Grand Prix proposals took place at the Royal Automobile Club in London. The exclusive automobile club was founded in 1897 and was designed to develop motoring in Britain. Today the Royal Automobile Club is one of the UK’s finest private motoring clubs and the London Grand Prix proposal event was a star-studded affair, which was hosted by two leading names in the world of motor racing – McLaren drivers, Jenson Button and Lewis Hamilton.

The announcement that Formula One racing is to return to the British capital has, however, come under criticism, namely because similar plans were made eight years ago but failed to materialise.

In 2004 the former London mayor, Ken Livingstone, backed plans for a London Grand Prix to be re-introduced to London in 2007, plans which of course never took place.

Confident a Grand Prix will arrive in London this time, Ecclestone insists the race will surpass the Monaco Grand Prix in terms of glamour and prestige, which is of course currently the most high-status motor racing course in the world.

Talking about how a London Grand Prix would benefit tourism and London’s economy, and the possibility of Formula One funding the London circuit, Ecclestone said in a press statement:

“With the way things are, maybe we would front it and put the money up for it. If we got the okay and everything was fine, I think we could do that.”

“Think what it would do for tourism. It would be fantastic – good for London, good for England – a lot better than the Olympics,” the Formula One boss continued.