Track day 206 Gti

[trackgti]

Hi everyone!
Me and a mate decided that we wanted to do track days on a budget and as a result, looked out for a cheap hot hatch we could use primarily as a track day car.
We ended up with a '99 206 Gti with the 138 bhp engine. Completely alien to me and my mate as i'm a Lancia lover and all his experience is with mini's! This is the car :

What's are best options regarding modifications on a budget? and what's the pro's and con's of the car?
We were going to strip the inside out to save weight. Fit bucket seats and harnesses. Have a new wheel and boss kit in the post. Fit a k and n panel filter. Quickshift in the post. and give it a service.
I've had a look at some coilover kits, but don't have adjustable damping, can anyone recommend a set they've fitted and are they worth the money?
Thanks in advance