Silverstone gets green light

Mika Hakkinen claimed the 2001 British Grand Prix

The 2002 British Grand Prix at Silverstone will go ahead, despite concerns over local traffic problems.

At a meeting in Monte Carlo the motorsport's governing body, the FIA, opted to maintain the track's championship status.

The decision followed an offer by the track's management group of a £3.4m 'performance bond', guaranteeing that promised work on traffic flow improvements will be completed prior to the race date of 7 July.

Silverstone officials have also pledged to spend £60m on the circuit, including an advance of £10.6m to bring the track up to standard in time for next year's event.

  Silverstone facts

It staged the first race in world championship history on 13 May 1950

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Last year's race was the 52nd British Grand Prix

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Stirling Moss' 1957 win was the first time in a British-built car

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Scotland's Jim Clark and Frenchman Alain Prost have both won five times at the British GP

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David Coulthard, Michael Schumacher and Jacques Villeneuve are the only current drivers to have won the race

Rob Bain, chief executive of race promoter Octagon Motorsports was delighted with the FIA's decision, despite the restrictions.

"We offered the performance bond to them to show our complete confidence in finishing all the phase one work before the 2002 Grand Prix," said Bain.

"Having met the minister of sport and local authorities we are confident we can get the job done and the required works will happen."

Leading figures in Britain, including former world champion Jackie Stewart, have expressed support for the venue.

And Sports Minister Richard Caborn welcomed the FIA's decision.

"I'm delighted that the race will go ahead," he said on Friday.

The race was originally listed in the provisional calendar for next season with an asterisk - its confirmation dependent on the outcome of an enquiry into the traffic problems by the British Motor Sports Association (MSA).

The MSA made clear in a statement on Wednesday that it backed the promoters' efforts and said there were "material and noticeable improvements to the traffic flow in 2001."

Bypass access

Octagon, this week, tried to allay the FIA's fears about access to the Northamptonshire circuit.

Their investment includes plans to improve access roads, circuit entrances and car parking, as well as introducing a park-and-ride scheme.

A Silverstone bypass is currently under construction, and Octagon plans to add to existing lanes around the circuit to improve the flow of traffic to and from the bypass.

Caborn said he would be making sure that everything went according to plan over the next few months.

"I will be looking for a monthly report on the progress being made with planning and the construction of the roads in the Silverstone area," Caborn said.

"We would take action quickly if they do not progress."