MAY 8, 2001
Stewart and Brundle stay at head of BRDC board
The BRDC, who own the Silverstone circuit, have now set their sights on developing the Northamptonshire track into one of the best on the Formula One calendar.
"The BRDC still has a lot to do to make sure we are able to afford the scale of investment that we believe will be necessary to make Silverstone a center for excellence for British motorsport and industry," said Stewart.
The BRDC signed a deal with Octagon Motorsports last year to ensure that the British Grand Prix will stay at Silverstone for the next 15 years.
Octagon had the commercial rights to the race from 2002 and had hoped to hold the event at their Brands Hatch circuit. But now the race will stay at its traditional home for the foreseeable future.
Brundle said: "The Octagon agreement has removed a substantial element of risk by separating the Club from commercial circuit operations, but there is a period now of getting back to basics.
"We need to concentrate on building our Club's financial strength and membership services and securing our future ability to re-invest in our sport."
The BRDC also announced that Alexander Hooton will be their new chief executive, while Martin Colvin has retired as a board member but will stay in the Club as company secretary. Tommy Sopwith and Michael MacDowel also retired from the board.