The g-value of the excited state associated with the GR1 line is analysed in terms of the Coulson-Kearsley defect-molecule model (1957) for the vacancy in diamond. It is shown that the experimentally observed g value is entirely consistent with the expected 1T2 level of the model provided quenching by the dynamic Jahn-Teller effect is considered. This quenching is estimated from stress splitting data for the GR1 line. The result supports strongly the view that the GR1 centre is the neutral vacancy