By Mark Barden

Silverstone's grandstands have seen better days

The company bidding to keep the British Grand Prix on F1's calendar says it is now a question of where and not if the race will take place in 2005.

Brand Synergy claims it has agreed a seven-year deal with F1 supremo Bernie Ecclestone for the rights to the GP.

Director Paul Richards told BBC Sport: "Now we need a venue and we want it to be Silverstone because it is the spiritual home of British motorsport.

"There are other options, but it is the best-known circuit in the world."

Those other options include Donington Park in Derbyshire, which staged the 1993 European Grand Prix.

Richards said: "It's a great circuit but, like Silverstone, would need a new pits and paddock area plus various other upgrades.

"But as well as being in business we're passionate about the sport, and we all want to see the British Grand Prix continue at Silverstone.

It's a gamble, but our plans for Silverstone are about minimising that risk - it's a great brand with huge potential Brand Synergy director Paul Richards

"We know we can maximise its potential so it's not just about one race a year.

"We want it to have new stands, new hotels, a centre of excellence for young drivers and technicians, and a motorsport-themed 'fun factory' for families."

The British GP was omitted from F1's provisional 2005 schedule after Silverstone's owners, the British Racing Drivers Club, failed to come up with enough cash to host it.

F1 supremo Bernie Ecclestone has long been a critic of facilities at the Northamptonshire venue, although it is a popular track with drivers and several teams are based in the area.

Richards said negotiations with the BRDC were ongoing, and expressed hope that a deal would be agreed very soon.

"We share the BRDC's vision for Silverstone, and we want to build a true partnership with the Club to benefit British motorsport as a whole.

"We are also offering the BRDC equity in Brand Synergy, so if a deal is done and we make Silverstone the year-round success story we believe it can be, the Club will benefit from that success."

Richards added that Brand Synergy has �200m to invest in Silverstone, and would aim to break even in the first three years of its seven-year deal.

"All business is a gamble," he admitted, "but our plans for Silverstone are about minimising that risk. It's a great brand with huge potential."