Donington Park, the track taking over from Silverstone as the venue for the British Grand Prix in 2010, needs to raise almost £40 million to upgrade the track and facilities in time to host the race.
According to a report in UK newspaper the Telegraph, the investment required for track improvements and the construction of a new pit and paddock complex and hospitality suites, has not yet been raised.
Owners Donington Ventures Leisure Ltd (DVLL) have until September this year to satisfy Formula One boss Bernie Ecclestone that plans are on course.
DVLL reportedly intend to fund the redevelopment with bank debt secured against future ticket revenue, largely drawn from the corporate sector. The track owners are reportedly planning to sell over 6,000 seats to corporate customers, with annual fees of around £5,000 a seat guaranteeing £30 million a year in revenue from just five to 10 per cent of paying customers.
Planning permission for the first stage of improvements to the circuit is expected to be granted by North West Leicestershire District Council tomorrow.
