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Page last updated at 10:44 GMT, Wednesday, 26 August 2009 11:44 UK

Silverstone looks for investment

Silverstone will not host the British Grand Prix from next season

Silverstone officials have been given power to seek outside investment for the first time in 38 years to try and win back the British Grand Prix.

The circuit, which will be replaced as the host of the British GP by Donington next year, has been run by the British Racing Drivers' Club (BRDC) since 1971.

And members voted to allow external investment to improve infrastructure, related technologies and training.

"This is a significant result," said BRDC president Damon Hill.

"The EGM (Extraordinary General Meeting) was not about selling Silverstone. The members were voting on whether or not the board should be authorised to approach and negotiate deals with potential investors on behalf of the club.


"It is purely commercial. Silverstone is an international sports arena, and we are continuing with plans to develop it in keeping with the very highest standards.

"The primary function of Silverstone will always be racing, hopefully with a Formula 1 British Grand Prix."

The only stipulation to any future deal is that the terms are favourable to the long-term future of British motor sport and to the club.

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see also
British GP is secure - Ecclestone
20 Jun 09 |  Formula 1
Donington secures 17-year F1 deal
15 Jun 09 |  Leicestershire
Donington firm rejects race fears
02 May 09 |  Leicestershire
Hill backs Silverstone's GP bid
24 Apr 09 |  Formula 1
Ecclestone slams Silverstone
07 Jul 02 |  Formula One

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