British racing fans have been told that plans are in place to turn Silverstone into one of the best racetracks in the world.
The circuit has a contract to host the British Grand Prix until 2009 but there have been warnings that this may not be extended if facilities at the site are not improved.
Silverstone is owned by the British Racing Drivers’ Club, members of which are expected to approve a £25 million scheme to revamp the track soon.
Richard Phillips, managing director of the circuit, said: "If we can combine one of the best circuits in the world with the best and most passionate fans in the world, we’ll have a pretty spectacular combination."
Commenting on the crowds that gathered last weekend to watch Lewis Hamilton compete, Mr Phillips said he had "never experienced anything like it at Silverstone before" and expressed a belief that there will be more days like that in the future.
Record crowds gathered at the Northamptonshire track for the British Grand Prix’s qualifying day on Saturday and the stands were full to capacity for the race.
Unfortunately for the fans they did not witness a victory for Lewis Hamilton, but the McLaren driver still managed to gain his ninth straight podium finish and continues to lead the Formula One world championship race.