SHELSLEY Walsh has set a £1.5 million target to maintain motorsport at the historic Teme Valley hillclimb.

The Midland Automobile Club, which runs meetings at the hill, is close to securing a new 99-year-lease on the site after protracted negotiations. The current lease expires in March 2004.

However, the club plans to secure the future of the hill by including additional buildings in the lease and renovating them.

Consequently a new Shelsley Trust is being set up to secure the lease and help raise money for improvements. Charitable status has been applied for in order to take advantage of possible National Lottery and Heritage grants.

Besides the hill, paddock and car parking areas, the proposed new lease will include several other buildings at the foot of the hill, all of which need renovation. The club plans to use these buildings as a museum, restaurant, toilets and motoring workshops.

The total cost of the renovation together with a lease premium is likely to be around £1.5million, and the Trust will be mounting a campaign to raise the money.

Shelsley press officer Toby Moody said: "To raise this money is not an easy task but it is achievable. The alternative of losing Shelsley Walsh is unthinkable!"

Shelsley Walsh, first used in 1905, is the oldest motorsport event in the world that still uses its original course.

The first event of the new season will be a National 'B' meeting on May 17-18.

Other highlights on their programme include a British Championship meeting on June 7-8 and a three-day hillclimb festival, including another British Championship round, from August 15-17.