New hope for Silverstone?

There may be new hope for the beleaguered British Grand Prix as a company that reportedly includes former champion Nigel Mansell on the board of directors believes it has secured the future of the race. Brand Synergy Ltd has apparently been working towards securing Silverstone for some time and claims it has sent its proposals to the British Racing Drivers' Club, the owners of the circuit.

"We have agreed with Bernie Ecclestone to sign a seven-year F1 Grand Prix licence," company director Kim Cockburn told BBC radio. "We share their (BRDC) vision to develop and deliver the masterplan that will make sure that Silverstone stays firmly on the map for the years to come."

Brand Synergy intends to redevelop the Silverstone circuit and Ecclestone thinks the company can achieve its aims. "I have been talking to Kim Cockburn about this for a long time and am confident that Brand Synergy can get the job done," he commented.

Mansell told British newspaper The Sun: "There will be a major announcement on this matter very shortly and all I can say before then is that there has been an exciting development that I am very proud to be part of. The final details of the package are being pored over by our legal team and once they give us the go-ahead, we will go public."

However, although the BRDC confirmed that it had been approached by Brand Synergy in regard to promoting the GP, the situation is not yet resolved. "No formal submission has been made to the BRDC Board, although discussions have taken place at executive level," said a statement from the Club. "Additionally there has been no independent verification of financial backing for their proposal."