FIA gives Silverstone the nod
Silverstone's future as a host of a Formula 1 Grand Prix took a step closer to security with the news that a bond lodged with the FIA has been returned.
Octagon Motorsports, the organisers of the British Grand Prix, and Britain's governing body, the Motor Sport Association, have been given back a £3.4 million bond which they had risked losing altogether if new access roads had failed to be completed before this year's Grand Prix.
However the FIA has said that it is satisfied with the work that has been completed, after a £10 million investment into the ‘dualling’ of the Dadford Road ensured that the targets were met on schedule.
In addition to the works on the Dadford Road alongside the circuit, the junction with the new A43 by-pass has also been improved creating a new entrance for the circuit with enhanced access. A total of 18,000 parking spaces will be available close to the circuit, of which 5,000 are on new tarmac surface.
"After the personal intervention of British Prime Minster Tony Blair, and thanks to the efforts of Sports Minister Richard Caborn and Transport Minister John Spellar, I am delighted to confirm that the new access road to Silverstone has been successfully completed," said FIA president Max Mosley.
Octagon chief executive Rob Bain said: “We are delighted to have been given back the bond. We had every faith and worked closely with our contractors to ensure the work gathered pace ahead of the British Grand Prix.
“We are confident that the £10.6 million investment programme on the Dadford Road and to the main entrances to the circuit will result in a significantly improved road access at this year’s event.
“I would like to take this opportunity to personally thank the Prime Minister Tony Blair, Sports Minister Richard Caborn and Transport Minister John Spellar for all their efforts and proactive support in facilitating the process."
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