Silverstone Future Promising, Says Brundle

Martin Brundle has said that he is confident that the British Grand Prix at Silverstone will not lose its place on the Formula One calendar in 2004.

Former Grand Prix driver Brundle, now the president of the British Racing Drivers' Club which owns Silverstone, believes talks over securing the future of the event are heading in the right direction.

Octagon Motorsports, who owns the rights to the British Grand Prix, reported losses of £40 million last year and has been put up for sale by parent company Interpublic. But Brundle insisted that discussions over the future of the race have been positive and said things look "promising".

"It is not correct to say that the future of Silverstone is secure, but I would say things are heading in the right direction on a number of fronts," he told the BBC. "But there are still some significant hurdles to clear in terms of all the things that need to happen to make Silverstone the right facility for everybody.

"I'm probably more confident than a month ago. I wouldn't say everything is done and dusted, but a number of things that are happening look quite promising."

Two races have to make way next year with Bahrain and China joining the Formula One calendar, with Austria already told the event will be dropped after this year's race. Imola, where Sunday's San Marino Grand Prix was held, is another candidate to be dropped, while the cash-crisis has threatened the future of the Silverstone race.