The British Racing Drivers Club have denied that this week's announcement that they are searching for fresh investors for the Silverstone circuit is a sign that they are running out of funds to complete the new paddock complex.
The new pit and paddock area is set to debut at the 2011 British GP at the circuit, with the start/finish straight being relocated to the straight between the Club and Abbey corners.
Building work is continuing apace at the track, which has seen a swathe of redevelopment efforts since the track secured a 17-year deal for the British leg of the F1 tour following the collapse of the Donington Park bid.
Last year saw the debut of the anonymous new 'Arena' section of the track, designed to improve spectator viewing, and the new paddock is the next stage in the track's development.
The BRDC announced on Thursday that it was searching for fresh investment for further development proposals, including new swanky hotels, a dull-sounding 'technology park' and a motor racing Hall of Fame exhibition.
"The commercial potential of Silverstone and the Estate is significant," BRDC chairman Stuart Rolt explained on Thursday.
"With the new circuit, new Pit and Paddock complex and other existing key motor sport developments all funded, the time is right for the BRDC to consider potential investment from third parties who share our vision and can help us realise the full potential of Silverstone more rapidly."
He added: "The redevelopment of Silverstone will be undertaken under the umbrella of the 'BRDC Members Charter'.
"This Charter requires that the race circuit is both protected and enhanced. Any developments around the venue and Estate will thus go hand-in-hand with further improvements to the circuit and motor sport facilities."
And although some quickly questioned whether this push for fresh capital was a sign that the coffers were running out in the race to complete the new paddock are by the July GP date, the BRDC quickly quashed such rumours.
"Silverstone is in a terrifically strong place," Rolt told the UK Daily Telegraph newspaper when asked if there was any issues with the paddock development.
"We have long-term contracts for the Formula One grand prix, for the MotoGP, we are busier than ever, we have a strong management team. You can see our accounts every year and they will tell you we are making money."
He added: "If there's one thing I want to get across it is that the rumours of impending financial peril are complete rubbish.
"These are exciting times. We have a very experienced board. We have extremely talented non-executive directors who have been brought in to help us become more efficient. In short, no one could accuse us of moving in the slow lane any more."
He added that the track has the full backing of Bernie Ecclestone, who has made a sport out of baiting the run-down track in the past.
"Bernie is very supportive," Rolt bragged, "He has been very supportive of everything we have done over the past couple of years.
"He is very complimentary about the efforts we’ve made and continue to make. We like to think we are already the best circuit in Europe and the opening of the new ‘Silverstone Wing’ will really consolidate that."
The 2011 British Grand Prix is set for the 10th July this year.
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