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Silverstone unveils new F1 Circuit

The new Silverstone F1 Circuit was revealed this week Bernie will be pleased It’s been a bit of a saga for Silverstone and the BRDC of late, with a backwards and forwards ‘will-they, won’t-they’ get to host the British Grand Prix going forward. Bernie Ecclestone finally announced that Silverstone would host the 2010 British Grand Prix back in December  - although it could be argued only by default after Donnington went belly-up – and the circuit upgrades are nicely in time for the 2010 British Grand Prix in July. Prince Andrew did the official opening on Thursday and got the chance to lap the track in a 2-seater F1 car with Damon Hill at the wheel and former F1 driver – and now BBC pundit – David Coulthard also on track in a Red Bull.

Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

Autoweek in review: What you may have missed

It was a slower week in the newsroom as 2012 winded down. On Monday, we learned how motorcycles were coming back and got some ideas for last-minute holiday gifts. In the racing world, the Trans Am Series announced that it’s expanding the 2013 race schedule.