Damon Hill will step down from his role as president of the BRDC

Former Formula 1 world champion Damon Hill is to step down from his role as President of the British Racing Drivers' Club after five years at the top of the association.

Having played a key role in securing the long-term future of the British GP at Silverstone, the BRDC-owned track, Hill said he was convinced the time had come to pursue his personal interests.

Hill will officially resign from his position at the BRDC's annual general meeting on August 25.

Speaking about his decision, Hill commented: “It has been a great privilege and honor to have been President of the BRDC since 2006. As a Club and business, we can be immensely proud of what British motor sport has achieved in recent years. The BRDC and Silverstone have an exciting and stable future ahead of them, so the time is right for me to pass the baton and dedicate more time to my family, my interests and the racing career of our son, Josh. However, I will remain an active member of the BRDC.”

Derek Warwick is now the favorite to replace Hill.