The World Superbike Championship returns this year

Donington Park which houses one of the world's largest collection of grand-prix cars has been bought by Donington Ventures Leisure.

Built in 1931, the Leicestershire venue was recently owned by the entertainment corporation Clear Channel.

The new owners said they wanted to improve the site for motor-racing fans and add new facilities.

We are absolutely committed to realising the full potential of the Park Simon Gillett, Donington Ventures Leisure

Chief executive officer Simon Gillett said: "We are naturally delighted and very proud to have acquired Donington Park.

"The circuit is steeped in motor-racing heritage and has an incredibly fond place in the heart of every motor-racing enthusiast whether on two or four wheels."

He added: "We are absolutely committed to realising the full potential of the Park by making the necessary investments in current and future events that will see Donington revitalised, ensuring its leading position as one of the most iconic racing circuits in the world."

Donington Park founder Tom Wheatcroft has agreed to join Donington Ventures Leisure as president.

The circuit is the home of the British Motorcycle Grand Prix and this year will be hosting the first of three British rounds of the World Superbike Championship - the first time for six years it has staged the event - and the World Motorcross Grand Prix.