Silverstone revamp approved
Silverstone has had exclusive staging rights to the event since 1987
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Tuesday, 31, Jul 2007 10:34
The British grand prix looks set to stay at Silverstone after a £25 million redevelopment plan to modernise the much-criticised venue was approved.
The Northamptonshire circuit has previously come under attack from formula one supremo Bernie Ecclestone for its problems with access and transport links.
In 2002 the billionaire likened the British Racing Drivers Club's (BRDC) running of the grand prix to that of "a country fair".
However the BRDC will now hope that such serious investment will convince Ecclestone to extend Silverstone's contract for hosting a stage of the prestigious series beyond 2009.
The plans, which secured backing from 80 per cent of BRDC members, include new grandstands, pit and paddock facilities as well as a science park, manufacturer test centre, hotel and conference complex and some residential development.
"The BRDC's masterplan is not only important to Silverstone and its continued hosting of the British grand prix, but also the development of the sport in this country," said BRDC president Damon Hill.
The former world champion also claimed that the overhaul of the circuit was necessary if a British successor to his 1996 triumph was to be found.
"We can only continue to develop exciting young stars like Lewis Hamilton if we have the best facilities at which to nurture such talent," he added.