Silverstone chiefs are already in talks with Formula One chief Bernie Ecclestone to net a new deal for the British Grand Prix.

The current contract expires in 2009 but Silverstone officials have opened discussions with commercial rights holder Ecclestone early as they bid to avoid the dispute which almost saw last year's race axed.

Silverstone managing director Richard Phillips believes Ecclestone, who was impressed with the spruced-up venue at the weekend, is approaching the talks in a positive frame of mind.

He told PA Sport: "We are already talking to Bernie about beyond 2009.

"The relationship we have with him is a lot better than the relationship we had a while ago. There is an element of trust so we are hoping we can really move along and provide what's required."

Ecclestone is likely to require Silverstone to modernise its paddock facilities, as well as overhaul the spectator areas if a new deal is to be signed for 2010 onwards.

But McLaren boss Ron Dennis, a member of the British Racing Drivers' Club who own the track, warned that Silverstone requires "hundreds of millions of pounds" of investment to become a world-class venue.

"Obviously, there is a strong desire to improve Silverstone and make it not just a better circuit, but the best in the world," he said. "To do that, a fine tuning is not what's needed. Spending £10million, £20million, £30million is not going to do it.

"It needs massive investment to make it world class. That means hundreds of millions of pounds, not tens of millions, and it is possible.

"In my capacity as either a motorsport enthusiast, McLaren director or one of the guardians of Silverstone, I will give my full support to any scheme that aggressively tackles the problem."

Phillips is already putting his mind to a major overhaul of the Northamptonshire track, the venue for the first-ever world championship grand prix in 1950.

He is keen not to forget the fans in Silverstone's new era, despite paddock facilities being top of Ecclestone's agenda, and dreams of rebuilding the entire grandstand complex to rival venues such as Shanghai and Istanbul.

He said: "We should try to move the whole sight on to a high-tech, sexy level where people enjoy it for the whole three days and it's a festival of motorsport. I don't think we should pass over the people.

"I want to put that bit right and put in state-of-the-art grandstands and the sort of public facilities you would expect, not just at the top of the circuit but all around the circuit."