Valentino Rossi in action at the MotoGP at Donington in July last year

Donington Park owner Kevin Wheatcroft hopes to find a buyer for the lease by the end of January.

The lease on the Leicestershire circuit went back to the Wheatcroft family last month when the leaseholder Donington Ventures Leisure Limited went bust.

Wheatcroft told BBC Radio Leicester: "I'm hoping towards the end of January we'll be able to pin someone down as being the future of Donington.

"We've had interested parties and now have a shortlist of about 14."

He added: "We have to whittle through that and see what is the best business plan and the best financial direction available to us."

The previous leaseholder DVLL won a 17-year contract to host the Formula One British Grand Prix but failed to raise enough backing to turn Donington into a state-of-the-art facility.

DVLL went out of business in November and Kevin Wheatcroft , son of circuit founder Tom, resumed control on 24 December after administrators failed to find new leaseholders.

Some work had already been done to convert the track but it was stopped part way through, meaning the venue is unable to host any events in its current condition.

The British F1 Grand Prix went to Silverstone instead, while Donington has also lost the right to host the 2010 British Superbike Championship, which had been a regular fixture at the circuit.

"Sadly everyone knows the direction things went in and I'm desperate not to repeat that," Wheatcroft added.

"That's the reason why we need to make absolutely sure that who we choose to take Donington forward is the right decision."

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