Dec.7 (GMM) Reports that Bernie Ecclestone might bail out Silverstone are "poppycock and mischief-making", according to sources at the circuit-owning British Racing Drivers' Club.

Rumours have indicated that the BRDC is running out of money to complete the redevelopments at the British grand prix venue and that Ecclestone could gain control of Silverstone by rescuing the project.

While the BRDC is not commenting officially, Telegraph correspondent Tom Cary spoke with key figures whilst attending the club's awards lunch in London.

He said he was "assured" that the reports, including claims the low-lying development is at risk of flooding, are "all poppycock and mischief-making".

"Development is on track, on budget and was signed off by respected architects and engineers who would have taken the water table into account," said Cary, recalling his conversation with the BRDC figures.

"There is a constant search for investment, primarily focused on utilising the development lands around Silverstone to create added value, but this is old news," he added.

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