'New' Silverstone gets green light

In the wake of successful negotiations to agree a five-year contract for the event, ahead of today's meeting of the FIA World Council where the 2005 calendar will be confirmed, BRDC chief executive Alex Hooton has revealed that the way is now clear for an overhaul to begin on Silverstone.

"I cannot go into the detail of the contract for confidentiality reasons but the five year deal gives us the perfect springboard for the redevelopment of Silverstone," he told autosport.com . "We are now going to be working on it as soon as possible."

Although some of the planned work for Silverstone includes developments similar to the £4.2 million Silverstone Innovation Centre, which was opened this week by Minister for Sport Richard Caborn, sources claim that revisions are also likely to be made to the track layout.

"I think it will be a combination of everything really," added Hooton. "We are going to take a very comprehensive look at Silverstone in its totality and ensure we get the best value we can out of the redevelopment to create a facility that we are all proud of."

Hooton took the opportunity of talking about the new deal to express his gratitude about the effort of the F1 teams, who had worked hard with F1 supremo Bernie Ecclestone to put together a financial package that would help make the British GP financially viable for the circuit.

"It is a great relief that the deal is done and we are very satisfied that it is a good deal for both sides," he said: "I think the support of the teams was crucial and the support of the government was also very beneficial."

And despite the fact that the late confirmation of the British GP deal gives the circuit less time than normal to plan ticket sales and the event, Hooton is upbeat that 2005 will be a success.

"Obviously in an ideal world you would start your marketing campaign in the autumn for the following year's race as soon as you had a settled date," he said. "But while it has got its problems they are not insurmountable and I am sure we will have a full house."