Bernie Ecclestone proposes London street race

Formula 1 boss Bernie Ecclestone has offered to fork out around £35m to stage a grand prix around the streets of London.

The motor racing supremo plans for the 5.1km route to take in sights such as Buckingham Palace and Trafalgar Square.

Organisers estimate that 120,000 people could flock to watch the race, which would make it the biggest circuit of the tour, and Ecclestone is keen to make it happen.

"Think what it would do for tourism," Ecclestone told The Times.

"It would be fantastic, good for London, good for England - a lot better than the Olympics."

The next race of the season is the British Grand Prix at Silverstone.