The British Grand prix could be set to ret🥀urn to the Formula One calen𒆙dar with the news that a consortium, which includes 1992 World Champion Nigel Mansell, could have come up with a rescure package.

Brand Synergy Limited is believed to hav🅠e come up with the necessary funding to make up the shortfall between the amount the British Rac꧟ing Drivers Club has offered for the race, and the amount that F1 boss Bernie Ecclestone is looking for.

Kim Cockburn, company director for Brand Synergy, told BBC Radio Five Live that the group has agreed to sign a seven year F1 Grand Prix licence with Ecclestone to save the race.

"We have sent our proposals to the BRDC," she said. "We share their ꦺvision to develop and deliver the masterplan that will make sure that Silverstone stays firmly on the♛ map for the years to come."

Cockburn also said that the group had been working on a pl🧜an to save the race for over a year, having previously been focused on rescuing Brands Hatch before it was purchased by the Motorsport Vision group owned by Jonathan Palmer.

"Our proposal to the BRDC is to acquire𒅌 a long lease on Silverstone," she said, "and then work together with them to deliver our plans."

Earlier Mansell, a board director of the group, told The Sun new꧃spaper that he was proud to be part of the "exciting development."

"It will mark an i🍒mportant step forward," he said. "Everyone involved believes that it ♐could mean Grand Prix racing continuing in this country, which is the birthplace of the sport."