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SBD Global/May 8, 2014/Finance

Efforts To Sell Silverstone Circuit Abandoned Following Failed Negotiations

Efforts to find a "multi-million pound investor to take over Silverstone have been abandoned after negotiations failed," according to Kevin Eason of the LONDON TIMES. The British Racing Drivers' Club, which owns the historic circuit, has already "secured the future" with a £32M ($54M) deal to lease the "industrial land surrounding Silverstone but was looking for an operator to develop the circuit to compete with the glittering tracks springing up in foreign capitals." The BRDC has now decided to "hold on to the circuit and carry out its own planning for the future, while MEPC, which owns the industrial and technology park, is also investing." BRDC Chair John Gran "gave an assurance that Silverstone and the British Grand Prix -- on July 6 this year -- are safe" (LONDON TIMES, 5/7). REUTERS' Alan Baldwin reported the talks with an "unidentified investor had been for the lease of the circuit land and sale of its wholly-owned subsidiary" (REUTERS, 5/7).
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