Formula One fanatics are being given the chance of a lifetime to enjoy the British Grand Prix in the company of motor racing supremo Bernie Ecclestone.

To boost funds for the Oxford Children's Hospital Campaign, enthusiasts are being invited to make bids to win a luxurious package for the day of the event - including rubbing shoulders with drivers and other celebrities during a grid walk before the race.

The one-lot electronic auction will run from next Monday, until Friday, June 2.

Along with a guest, the winner will be given a personal invitation by Mr Ecclestone to join him at Silverstone on Sunday, June 11.

They will be flown in to the Northamptonshire racing circuit by helicopter from Banbury, and will be given two VIP passes to the Formula One paddock for the day.

To top off the experience, they will receive hospitality at the exclusive British Racing Drivers' Club, including seats in its private grandstand to watch the Grand Prix, followed by lunch at the club house.

Alice Gosling, director of fundraising for the Oxford Children's Hospital Campaign, said: "This is an immensely exciting opportunity for a Formula One fan and for the children's hospital. We are delighted that Mr Ecclestone has been so generous and has recognised the impact this facility will have on children's lives."

It is not the first time the sport of Formula One has lent its support to the Chox appeal. During the British Grand Prix weekend of 2004, Oxfordshire-based teams BAR, Williams, Jordan and Renault helped raise £160,000 for the campaign with a special entertainment night at Silverstone.

The 160 guests were treated to a preview of the team garages, to look at the cars and meet the drivers, and received VIP passes to the paddock area, courtesy of Mr Ecclestone.

All the money made goes towards the £15m appeal to fund the 106-bed children's hospital, which is being built at the John Radcliffe Hospital site in Oxford and is due to open in January next year.

To make a bid in the British Grand Prix auction, log on to www.chox.org.uk or email campaign@orh.nhs.uk with your name and contact details.

The winner will be notified by telephone on Monday, June 5, as well as being announced on the children's hospital website, and will be expected to pay by banker's draft or telegraphic transfer by noon the same day.