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Silverstone revamp to be privately funded
29th June 2007
The British Racing Drivers Club plans to raise it’s own funding for the redevelopment of the Silverstone race circuit near Northampton that is required to secure the future of the Formula One British Grand Prix at the venue after the current contract to stage the race expires in 2009.
BRDC president Damon Hill told the UK’s Daily Telegraph newspaper, "Our view is that the BRDC can afford to develop Silverstone using its own means, so that we don't constantly need to badger government. We think we can stand on our own two feet and manage the assets.''
According to Hill the redevelopment work would cost the BRDC more than $US40 million ($A47 million) and would require the sale of some of the land comprising the Silverstone site.
The BRDC membership is expected to vote on the proposal at the end of July. A previous attempt to secure the future of the Grand Prix at Silverstone through a deal with the property development company St Modwen in 2006 was voted down by the club members.
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