British GP is 'safe', says Northern Racing

That is the view of Northern Racing's group managing director Rod Street, who believes that his company's experience in making a success of their racecourse interests can be applied to ensure Silverstone and the British Grand Prix's long-term future.

"We have a huge appetite to maintain the British Grand Prix," he told autosport.com. "Silverstone is a fantastic venue and we believe that something that could be played a lot stronger going forward is its brand. Silverstone is a fantastic brand and there is an opportunity, if this goes forward, for it to really punch its weight."

Northern Racing is hoping to win approval for its appointment as Silverstone's operators at an Extraordinary General Meeting of Silverstone's owners the BRDC on February 22. The company is planning to work alongside property development company St. Modwen, which is a shareholder in Northern Racing, in helping revamp Silverstone.

Should Northern Racing be given the green light, then Street hopes that its experience in making its horse racing businesses a success can be repeated through its involvement with Silverstone.

"There is quite some way to go yet, this recommendation made to the members by the BRDC is simply offering them the opportunity to say whether they do or don't want to proceed with negotiations. So whilst we are excited and have huge appetite for this, there is some way to go.

"But we can say that we operate nine racing courses, and our reputation is of being well-regarded commercial operators. We got into it in the 1980's, when racing was in the dark ages, and we turned the racecourses around and make them customer friendly and modern.

"We believe the principles of the motorsport industry and circuits remain the same. There is a broad base of customers, sites that need good management and a business that needs a good commercial structure. Whether it is horse racing or motor racing, if you give the customers a reason to come to a venue, then they will come."

And although Northern Racing's involvement comes just a few years after previous leaseholders Interpublic cancelled their deal with Silverstone because it did not make financial sense, Street believes a partnership between the BRDC, St. Modwen and Northern Racing will be successful.

"It is impossible to comment on what happened there before, but I think why we are confident is that the BRDC recognizes that it needs a three pronged attack. It needs a professional partner to release equity, and it needs a commercial operator."