Stewart wants prompt action on British GP referral

In an agreement reached last December, Octagon is to lease and manage Silverstone for a 15-year period and will continue to hold the British Grand Prix there. The BRDC will receive significant income from the deal and has pledged to use the extra revenue into grass roots motorsport and the development of young drivers.

But Trade Secretary Stephen Byers says he is referring the case because of, "competition concerns in respect of the market for the provision of motor racing and related activities."

Reacting to Byers' referral of the case, Stewart said: "The BRDC/Octagon agreement has been broadly welcomed by the sport, the motorsport industry, and government at all levels. We are surprised by the referral. Having worked so hard to bring certainty to the future of the British Grand Prix, this referral is a complication that we believe needs to be dealt with promptly to remove any doubt about this country's commitment to a sport and industry that together represent one of our greatest achievements.

"We took the [BRDC/Octagon] decision in the interests of the whole of our sport, with an investment of US$60 million, integral to the agreement, to raise Silverstone to the highest international standards. At the same time we have a vision for Silverstone as a centre of excellence for the whole of the internationally successful British motorsport industry."

The findings of the Competition Commission, which are expected in early August, will not affect this year's British Grand Prix on July 15. But anything less than a 'clean bill of health' could in theory jeopardise long-term investments in the circuit.