The next step in securing the future of Silverstone Circuit was taken today with the submission of a comprehensive outline planning application to Aylesbury Vale District Council and South Northants District Council.

The application conforms with the Silverstone Development Brief, issued February 2009, and comprises of:

A Business park, a Technology park, Education campus, Three hotels, Ancillary retail and spectator facilities, including 'Welcome Centre' and 'Museum of Motor sport' with promotional and experiential automotive display space, Improved leisure and event spaces, including a kart track and outdoor stage and other ancillary development, including landscape works, grandstands, hardstanding and support paddock, bridge and tunnel to improve pedestrian flows, a new point of access, supporting infrastructure and demolition.

Development of the masterplan is aimed at demonstrating the potential of the iconic circuit. The development will create around 8,400 permanent jobs in the firms and activities attracted to the site, plus an average of around 550 construction jobs per annum throughout the development phase. At least 4,800 of these jobs are likely to be entirely new to the area.

"The submission of this planning application is a big step forward in releasing the commercial potential of Silverstone and its 760 acre Estate," said Stuart Rolt, Chairman of the British Racing Drivers' Club. "The timing of this planning application is closely linked into the process we are currently undergoing to seek potential investment from third parties that will enable us to move forward with our plans more rapidly."

"This is the most important initiative that Silverstone has taken in its 60 year history," added Richard Phillips, Managing Director of Silverstone Holdings Ltd. "Things have changed dramatically since the early days. Approval of this planning application will help maintain Silverstone's position as a leading global centre for sport, leisure, education and technology and support its vision of becoming a World leading motor sport destination."

Richard Cutler, a Partner at Bloombridge, Silverstone's appointed Planning and Development Manager, said: "The Development Brief provides a very good starting point. Our professional team has worked hard to produce a very high quality masterplan, founded on a robust analysis of the constraints and opportunities. The next step is to deliver the much sought after inward investment."