Facility Notes: LDC To Invest Millions In Management Buyout Of Silverstone
Private equity firm LDC, which is owned by Lloyds Banking Group, "is in advanced talks over spending 'millions' on backing a management buyout of Silverstone Circuits," which promotes and hosts the British Grand Prix. It comes just two months after Property Week "reported that developer MEPC had agreed to buy hundreds of acres of land" around the circuit for £40M ($62M) (London TELEGRAPH, 8/28). ... A further A$9M ($13M) "has been provided" for the upgrade of Sydney's Parramatta Stadium. The state government will provide a A$6M grant, while Parramatta City Council has pledged A$3M. The total committed is now A$29M after the federal government allocated A$20M last month toward "a refurbishment for the home of the Parramatta Eels and Western Sydney Wanderers" (BRISBANE TIMES, 8/28). ... The Pacific Islands "opened their first outdoor, surfaced Futsal court" in Samoa last weekend, funded through FIFA's development office "as a GOAL IV project" (INSIDE WORLD FOOTBALL, 8/28).