Silverstone hoping to add 25,000 new seats over the next three years

Silverstone will add 25,000 new seats to help keep up with the rising costs of hosting Formula One Grands Prix.

This season's British Grand Prix at the Northamptonshire track attracted 139,000, 1000 less than the record set last year while three-day attendance was 350,000. The circuit's managing director Patrick Allen is confident that those numbers will see the venue turn a profit for the second year in succession after 2015's race brought in £1.2 million - the first time the Grand Prix had made money in a decade.

Looking at how Silverstone could improve further, Allen told Autosport that improving the fans' experience was key.

"Budget allowing I'd like to get the crowd closer to the track action, and this is where we are in discussions with the FIA and Charlie Whiting," he said. "So for instance at Becketts, and down the National pit straight, I want to bring the grandstands in. I'm currently looking at that.

"If we could do that it would be more exciting for the fans and drivers. They would feel like they are driving through an arena all the way around the circuit, rather than seeing the crowd from a distance," he continued. "We can also put more grandstands in, but it's not cheap to do that.

Allen plans to phase in the capacity increase over three years, but admits that it could be done sooner if the circuit finds new investment.

"We've currently around 65,000 seats, and I'd like to see that climb to nearer 90,000," he said. "That will probably be phased in over three years. If we get a slug of investment money, then who knows, we might be able to do it sooner."

Arena plans have big names in sight

Plans for a new arena to be built on the infield of Stowe are also taking shape, with the aim of attracting more casual fans to Grands Prix.

Allen hopes that by putting on high-profile music concerts during race weekends, attendances will rise.

"It would be the Rolling Stones or U2. That's who I want to go to, or Coldplay, Paul Weller - a really big name that attracts another audience," he said.

"Obviously those kind of names don't come cheap, and that's why we need the crowd to be able to sell it."

Plans to create a 'season ticket', incorporating the British Grand Prix, Wimbledon, and The Open have also been mooted, as has a collaboration with other circuits to help lower costs.