Silverstone Receives Cash Boost

British Grand Prix promoters Octagon today pledged £4 million to their Silverstone circuit to cover a major upgrade in a bid to hold onto their place on the Formula One calendar.

Octagon's organisation of the British Grand Prix was branded "like a country fair" by commercial rights holder Bernie Ecclestone despite the introduction of some significant improvements to the access roads.

Ecclestone criticised the circuit's poor signalling at last year's event because he became lost after he commandeered a Land Rover when his helicopter was grounded due to fog. The development of state-of-the-art facilities such as Bahrain and Shanghai, which will hold races next year, has left the current tracks rushing to improve their facilities.

"Silverstone will see extensive development with the replacement of debris fencing, refurbished spectator facilities such as toilet blocks and improvements to public areas and signage," said Octagon.

Several marshals posts will also be improved and the run off at Stowe corner will be converted from gravel to the more modern tarmac design which allows cars to be slowed but continue if they spin off.

Octagon will spend a further £3.5 million on their other four British circuits, former British Grand Prix venue Brands Hatch, Oulton Park, Snetterton and Cadwell Park.

"We have undertaken this investment in 2003 to ensure we can provide the best possible facilities at our circuits," Octagon Motorsports UK managing director Michael Browning said.