A bronze bust stolen from the British Racing Drivers' Club at Silverstone, Northamptonshire, has been found.
The sculpture of racing legend Graham Hill was recovered from a house on Beverley Road, Little Lever, in Bolton.
The discovery was made after a search warrant was executed following a joint operation by Greater Manchester Police and Northamptonshire Police.
A 47-year-old man has been arrested on suspicion of burglary and handling stolen goods and is in custody.
The sculpture is to be returned to the famous race circuit once formal identification checks are carried out.
Stuart Pringle, secretary of the British Racing Drivers' Club, said: "This is an early Christmas present for us - we are over the moon.
"We actually commissioned another bust a few years ago, but will put that somewhere else on the site once we have returned the original one to its rightful place."
Supt Andy Durkin, of Bolton Police, added: "This is a very satisfactory end to the operation and I am pleased we can now move forward with returning this important statue back to its home."
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