Donington Park boss Simon Gillett says construction work on the circuit's redevelopment plan will begin on August 1, ahead of its scheduled return to the Formula 1 calendar in 2010.
Gillett signed the final legal documents last week giving him the go-ahead to begin work on revamping the famous track, and in an interview with Eurosport he explained that Donington was just waiting until its two summer events - the World Superbike round (this weekend) and the British MotoGP – had taken place before the diggers moved in.
Gillett also dismissed concerns over funding for the project, adding that all the necessary budget should be in place for the work by the end of July.
"It's been a lot of hard work up until this point," said Gillett. "It has been like pushing water uphill with a fork occasionally, but the team here are fantastic and we have got clarity of vision and the support of all the right people so here we are.
"The pit and paddock was built over one winter and we are doing a similar kind of thing, just on a slightly larger scale," he added. "We were hoping to have started a bit earlier but as I've said we had a problem with our funding source at the time, that's put us back.
"We'll be resolving our funding by the end of July and then we will start putting forks in the ground on the first of August."