THE chequered flag could be about to fall on one of Britain's greatestsporting venues.

Brands Hatch, for many years the home of The British Grand Prix, has been put up for sale and there are fears it could fall into the hands of housing developers.

It is believed management firm Jones Lang LaSalle, which is handling the

sale, has received interest from bidders hoping to turn the West Kingsdown

circuit into housing.

But the management firm is hoping to be able to sell the track to someone who will keep it going for racing purposes.

MP for Dartford Dr Howard Stoate said he feared a possible closure of the race circuit could have a negative impact on the economy of the area.

He said: "A huge number of peoples' livelihoods depend on it and I don't know what the effect could be on the local economy but it could potentially be quite major."

Since 1926 when a group of cyclists first used what was then a mushroom field as a makeshift racing track, Brands Hatch has become synonymous with British motor sports.

The first Formula 1 race was held at the track in 1964 and it was here Nigel Mansell won its last Grand Prix in 1986. Twenty years earlier the circuit provided Jim Clark with a European Grand Prix victory.

In its heyday Brands Hatch, which was occupied by the army during the Second World War, was THE British racing venue and attracted tens of thousands of fans which would bring Dartford and Swanley to a virtual

standstill.

Dr Stoate said he had fond personal memories of the track dating back to when as a young doctor he used to work there as a medical officer.

He said: "At one time British motorsport was world leaders and Britain was the birthplace of motorsport. I would be extremely sad to see it go.

"Brands Hatch is a major sporting venue, which is very important to a lot of people."

Although the circuit is no longer a Formula 1 track top motor sports including superbikes, touring cars and Formula 3, still use it.

But the future of the circuit as a racing venue looks uncertain after the

owner, Interpublic, put it up for sale.

Bike racer Shane Byrne was upset by the news that Brands Hatch could close down.

He said: "It would be a nightmare. It's my favourite track. Brands Hatch is a big thing and it's my home track so for me it would be a problem."

The American-based parent company of Brands Hatch Circuits Ltd, has

confirmed that all four of its British racetracks are up for grabs, after it

suffered losses of more than £40 million.

Estimates have valued Brands Hatch, Snetterton, Oulton Park and Cadwell Park at about £70 million.

Future plans for the track were hampered three years ago by rejection of plans to extend so it could once again host Formula 1 events.

A spokesman for Sevenoaks District Council said Brands Hatch is situated

in green-belt land but the authority could not pre-judge any applications.

He said: "As a planning authority we obviously have to accept all planning

applications in a totally unbiased fashion.

"It says in the local plan that the site is for motor racing and any buildings need planning application."