Donington Park bosses are confident that they can make a profit from the British Grand Prix when it moves to the East Midlands venue from 2010.

The circuit overcame a huge hurdle on Thursday when planning applications were approved by the local council, with work having already started on a tunnel that will allow contractors with access to the infield to carry out work on the new loop and on the pit and paddock complex.

Donington's decision to chase the event comes at a time when a number of other circuits have pulled out of the sport, with venues such as Magny-Cours announcing that they didn't feel it was financially viable to host a Formula One race.

However, circuit boss Simon Gillett said he was fully confident that the British Grand Prix will be able to turn a profit and that the venue wouldn't have signed a contract with Bernie Ecclestone if it didn't believe a profit was possible.

"I don't know the commercial terms they [other circuits] have," he told journalists at the Autosport International show at Birmingham's NEC. "I know what our commercial terms are and we can support those.

"We wouldn't be doing this otherwise as we are not a charity, we are a commercial business. We have spent a lot of time working through this plan and negotiating and we have only done a deal that we felt was commercially viable."

Gillett added that the plans in place had been constructed with a focus on ensuring money can be made throughout the year, with facilities that can be adapted for Formula One rather than specifically to cater for the sport.

"Utilisation of the assets we are building," he said when asked where a profit will be made. "A prime example is where you guys will be sitting in the media centre.

"You typically go to a grand prix, it looks like a hangar and they hang a series of plasma screens from the roof and that is pretty much it. Our media centre, when you look at what we are building, is a 500-seater stepped auditorium with four large screens at the front. In other words, it is a conference centre for 363 days a year and not a media centre when you guys aren't in town.

"That is what you do. You don't build stuff for Formula One; you build stuff that is commercially viable and then adapt it."

Gillett refused to make comment on funding for the event, but insisted he wasn't concerned about the planned debenture scheme despite the current uncertainty in the economic market.

"Nothing to say about money at the moment," he said. "That, as I have always said, will be coming out at the end of quarter one and we will be letting people know about it, but you know what is coming; it's a debenture scheme and we are framing the final parts of that at the moment.

"It's on track and I am as confident on that as I was with the planning so you can draw your own conclusions from that if you wish. We are very confident on that."