The British Racing Drivers’ Club’s (BRDC) plans to redevelop the pit and paddock at the Silverstone racetrack in Northamptonshire have been approved.

Aylesbury Vale District Council’s strategic development control committee approved the scheme, which is pre-condition of the track being awarded a new Formula One grand prix contract.

Architects HOK are responsible for the new design, which involves creating a new pit straight with reorganised entry and exit points, a reconfiguration of Club Corner and a new Abbey section.

Silverstone falls into the jurisdiction of both Aylesbury Vale and South Northamptonshire Councils, and the authorities are working with BRDC on the long-term development of the site – including an extreme sport and leisure complex, two hotels and a welcome centre with a museum.

A spokesperson for Aylesbury Vale council, Michael Edmonds, said: “This is an exciting project that will help Silverstone retain the British Grand Prix and strengthen its international role as a world-class motorsport facility.”

However, it’s been rumoured that the future of the historic racetrack – which has been part of the Formula One grand prix circuit since 1950 – is in doubt.

The Daily Telegraph reported that Bernie Ecclestone, one of the primary authorities in Formula One, is not planning on awarding Silverstone the contract.

The BRDC sent back Ecclestone’s contract demanding £11.2m a year to host the race, asking for a reduction. Ecclestone declined, and the renewal date has now passed.