Stuart Hicken, owner of the Buildbase BMW BSB team, and Eddie Roberts are to take over day-to-day running of the Mallory Park circuit.

The previous operating company went into administration after a series of problems associated with contravening agreed noise regulations, throwing the future of the British circuit in doubt.

Hicken managed successful racing teams for others before setting up his own Hawk Racing squad, while former grand prix and TT racer Roberts owns Complog, a worldwide retailer of motorcycle tyres which also supplies the BSB series.

The pair, who have formed a jointly-owned company, Real Motorsport Limited, commented: "This is a great day for us both. We have grown up with Mallory Park, firstly as spectators, then as competitors and now running businesses associated with the sport.

"We realise that there is a lot of bridge building to be done with the local community, but Mallory Park has been here for a long time and we are hopeful that - with understanding all round - it will have a long and successful future.

"We would like to thank circuit owner Chris Meek for giving us the opportunity of re-establishing Mallory Park and also Hinckley & Bosworth Borough Council for advice regarding noise issues and the community".

Hicken and Roberts will now start work to get the circuit into shape for the forthcoming season and plan to stage their first race meeting in the spring, together with a programme of practice and track hire days.