The British Racing Drivers Club has unveiled its masterplan for the redevelopment and improvement of Silverstone

The plans to raise £30m to secure the future of the circuit and the British Grand Prix at the famous circuit in Northamptonshire.

This first phase of the plan features Porsche GB developing a new Driving Experience Centre at the site.

The masterplan comprises 6m sq ft (557,413 sq m) of development over the next 10 years.

The BRDC, which last year rejected St Modwen’s plans for Silverstone's redevelopment, created a Property Advisory Group in July 2006 to explore ways to raise money from its property assets of the club at the 760 acres (307 ha) ground.

The plans feature the creation of a new grandstand, new pit and paddock.

Silverstone has been under threat of losing the the Grand Prix. Bernie Ecclestone and his company, Formula One Management, made it clear that if the BRDC, of which Damon Hill is president, fails to make the necessary improvements, its contract to host the British Grand Prix will not be renewed beyond 2009.