Dario Franchitti and Adrian Newey will both take part in the 50th Grand Prix commemorative parades that take place over the British Grand Prix weekend.

Three-times Indianapolis 500 winner and four-times IndyCar Champion Franchitti, and Red Bull Chief Technical Officer Newey join Sir Jackie Stewart, David Brabham and a host of other famous names taking part in the 'Silverstone50' parades, which will feature cars and drivers that have provided unforgettable moments in Silverstone's illustrious British Grand Prix history.

Franchitti will be jumping behind the wheel of fellow Scot and double world champion Jim Clark's Lotus 25. Clark, who was tragically killed in 1968, is the most successful British racing driver on home soil, having won the British Grand Prix five times (1962-65 and 1967) - three of which were at Silverstone (1963, 1965 and 1967). Franchitti will be driving the Lotus 25, which was designed by Colin Chapman, built by Team Lotus and driven by Clark to victory at Silverstone in 1963. The Scot went on to win his first championship later that year.

"I'm delighted to be coming back to Silverstone for the British Grand Prix," said Franchitti, "especially this year to celebrate the 50th Grand Prix at the racetrack. I'm truly honoured to be driving Jim Clark's Lotus 25 in the parade to celebrate this amazing milestone."

Retracing his roots as a young F1 engineer, Newey will be piloting the March 711 which Ronnie Peterson drove to second place at the 1971 British Grand Prix. The design of the March 711 became legendary for its iconic 'tea-tray' shaped, elevated front wing and, while it didn't win a Grand Prix, Peterson drove it to second place in four races.

Newey joined March Engineering in 1981, aged just 22, shortly after graduating from university. There, he cut his teeth designing and engineering cars in Formula 2, sports cars and then in IndyCar in 1984. He designed the March 86C, which won the 1985 CART title and the Indy 500 in the same year, before moving on to other projects. Newey returned to March in 1988 to design his first F1 car, and has since gone on to design a record ten World Constructors' Championship winning cars for Williams, McLaren and Red Bull.

"I'm very much looking forward to Silverstone's 50th commemorative parades," said Newey, "and feel privileged to be taking part alongside so many prestigious names in the sport. After winning four Championships with Red Bull since 2010, there is something very special about going back to the beginning and having this unique opportunity to drive the March 711 at this event."

The 'Silverstone50' parades are scheduled to take place on all three days of the British Grand Prix at the following times: Friday 04 July 12:50-13:05, Saturday 05 July 12:05-12:30, and Sunday 06 July 11:10-11:25. Though timings are provisional and subject to change.

Other legendary cars and drivers already confirmed to take part in the 50th Grand Prix parades include Sir Jackie Stewart, driving his 1969 British Grand Prix winning Matra MS80, and David Brabham, driving his late father Sir Jack Brabham's 1960 British Grand Prix winning Cooper Climax T53.

The 2014 British Grand Prix will be the 50th Grand Prix to be held at Silverstone since Luigi Villoresi won the first ever event on 02 October 1948, two years before the inauguration of the FIA Formula One World Championship in 1950.

Tickets for the event are available from £65pp and are on sale 24 hours a day, seven days a week at silverstone.co.uk