The British Racing Drivers' Club (BRDC) has tonight issued the following:

At an EGM convened at Silverstone on Tuesday 25 August, the Members of the British Racing Drivers' Club (BRDC) voted overwhelmingly to grant powers to their Board, authorising them to entertain offers of investment in Silverstone and its core land.

It was reiterated that the BRDC Board would only consider deals upon terms which were clearly favourable to the long-term future of British motor sport and to the Club.

The BRDC's long term objective is to develop further Silverstone's motor sport infrastructure, related technologies, education and training and to ensure that the UK continues to be the global leader in these specialist areas.

Robert Brooks, Chairman of the BRDC said, "The resolutions proposed at this EGM called for the powers, granted to the Board at a previous EGM two years ago, to be extended to our core land, I am of course pleased with the outcome, it further illustrates the BRDC's commitment to Silverstone and to the future of British motor sport."

Damon Hill, President of the BRDC said, "This vote is a significant result for the future of Silverstone. Today's EGM was not about selling Silverstone. BRDC Members were voting on whether or not the Board should be authorised to approach and negotiate deals, with potential investors, on behalf of the Club. It is purely commercial. Silverstone is an international sports arena and we are continuing with plans to develop it in keeping with the very highest standards.

"The primary function of Silverstone will always be racing, hopefully with a British Grand Prix."