Silverstone eyes £600m facelift

'Bright future' for Silverstone

Silverstone, home of the British Grand Prix, could be on the verge of a £600m redevelopment over the next four years.

The British Racing Drivers' Club, who own the circuit, are on the look-out for major investors to take on the contract to overhaul the venue.

They hope the investment will make the circuit the home of British motorsport.

The track's future was secured in December when a five-year deal was agreed with Formula One commercial boss Bernie Ecclestone.

The Northamptonshire track has suffered criticism over recent years and came close to being stripped of its place on the Formula One calendar before the last-minute deal with Ecclestone.

It is believed that many of BRDC's 800 members are not keen on the idea of changing the historic venue after proposals for the redevelopment were recently revealed.

"I fully understand the emotional attachment that so many members feel to Silverstone," BRDC chairman Stuart Rolt said in his written address to the club's members.

"The existing model will not support the club's objectives of keeping the British Grand Prix and optimising members' facilities at the circuit."

The club is currently in the process of trying to find a partner for the 800-acre land site project.

Financial advisor KPMG Corporate Finance will assess bids from groups, which are said to include British Land, Hilton Group and Helical Bar.

KPMG told BBC Sport: "There has been subtantial interest from development and financial house"

BRDC and KPMG expect to receive all the bids by the end of the month before announcing a decision in November.