Last updated: 8th January 2009
Donington Park has been given the go ahead to begin work on a £100 million redevelopment of the circuit in time for the British Grand Prix in 2010.
North West Leicestershire District Council has granted owner Simon Gillett planning permission to turn the venue into a state-of-the-art facility.
Gillett, via his company Donington Ventures Leisure Ltd, signed a 10-year agreement with Formula One supremo Bernie Ecclestone last summer after Silverstone stalled over a new deal.
Silverstone will thus host the British GP for the final time this year before Donington Park ushers in a new era for the event.
Phase one will see the track extended in line with FIA regulations, along with the building of a new pit and paddock complex, media and medical centres, clubhouse and suites at Redgate, Starkeys and Craner Curves.
Gillett's plan is to raise the capital required for the building work via a debenture scheme.
"I'm over the moon," he said. "It's the end of six years of hard work, and the beginning of probably six years more hard work.
"But I'm elated, relieved, all of the above. I couldn't be happier, and from tomorrow morning it's shovels at dawn and away we go.
"It starts in earnest now, and time to start focusing on 2010 and delivering the best grand prix in the world.
"That is what I've always said we would deliver, and that is what we are going to do."

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