Group says Silverstone deal is close

Nigel Mansell is part of a high-powered consortium which claims to be on the verge of saving the British Grand Prix, it emerged today.

The group of businessmen and Formula One fans is confident its rescue package will prevent motor racing supremo Bernie Ecclestone from axing the Silverstone event next year.

The British Racing Drivers Club today confirmed that Brand Synergy Ltd is behind the rescue package

The company is headed by motor-racing entrepreneur Kim Cockburn, former British Touring Car champion Robb Gravett, and David Phipps, who has worked in Formula One for more than 40 years.

"There is a deal on the boardroom table of the BRDC that is good for them, good for the fans and good for the long- term future of motor sport in this country," said Cockburn.

"I have agreed with Bernie to sign a sevenyear licence and am confident that Silverstone will appear on the calendar for 2005 and the foreseeable future."

Mansell, the 1992 Formula One world champion is also optimistic the race can be saved. The 51-year-old said: "There has been an exciting development that I am very proud to be part of.

"It will mark a very important step forward and everyone involved believes it could mean grand prix racing continuing in this country - which of course it must as the birthplace of the sport.

"The final details of the package are being pored over by our legal team and once they give us the go-ahead, we will go public."

Government officials also confirmed they were hopeful an "imminent announcement" would reveal the British Grand Prix would be saved.

The Government has refused to bail out track owners the BRDC.

But it is believed a new financial package for the circuit, backed by Mansell's group and arranged through the East Midlands Development Agency, could smooth the way for an agreement.

The move should enable the BRDC to bridge the £800,000 gap between their offer and Formula One's demands for the rights to stage the British Grand Prix.

Sports Minister Richard Caborn has been reluctant to act as a mediator between BRDC president Sir Jackie Stewart and Ecclestone.

But a source close to the minister said: "He is now much more confident that a deal can be delivered than he was last week.

"The two sides have been back in useful negotiations and they both know the British Grand Prix is too big to drop.

"It is not 100 per cent yet but he has high hopes there will be an announcement before the end of the week."

The deadline for a deal is next Wednesday when the provisional calendar for next year goes before the FIA world motorsports council.

Only 17 out of a possible 19 dates are on the list, so Ecclestone has left space for Silverstone to be included.

BRDC chief Stewart was optimistic last night. He said: "I've got a feeling deep in my stomach that in the end it will come together."