Last month, it was announced that the 2020 Goodwood Festival Of Speed was forced to be canceled entirely due to the ongoing global pandemic. It was sad news for fans in the UK who missed the chance to see racers up close for the annual hill climb. But all is not lost, and now, Goodwood is launching a brand new motorsport event called Goodwood Speedweek, presented by Mastercard.

The event is said to combine the best of the Festival Of Speed and the Goodwood Revival but in a safe manner as it will be staged behind closed doors. The three-day event is set to run from 16-18 October at the Goodwood Motor Circuit. As spectators will not be allowed within the circuit, an interactive broadcast will be made globally available for fans to feel part of the action, and there will be plenty of that.

A rally competition is set to feature cars going under and over the circuit itself, while the 'Goodwood Gymkhana' will dominate as areas that were previously restricted will be utilized. According to the organizers, the current Goodwood lap record has been unsurpassed for 55 years, but with modern cars expected to compete at Speedweek in a one-lap shootout, this could be set to change in October.

You can also look forward to the launch of the latest cars by major manufacturers at the three-day event, although what these may be hasn't yet been revealed. What we do know is that the all-new Volkswagen Golf R was meant to be launched at the original event this year, so could this be when VW's hot hatch is finally unveiled?

"Having taken the heartbreaking decision not to hold the Festival of Speed and Revival this year, we were determined to find a way of bringing motorsport to Goodwood in 2020," said the Duke of Richmond. "Speedweek will be a once-in-a-lifetime occasion."

Last year, the Festival of Speed showcased some spectacular cars like the Porsche 911 RSR, McLaren GT, and Ford GT MkII. If that event is anything to go by, Speedweek should provide loads of entertainment in a year that has seen scores of motoring events postponed or canceled. More details about Speedweek will be shared in the weeks to come. We can't wait!