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Circuit plays the field for potential investor
A general view of the new Pit lane at it's opening of the new Silverstone Wing A general view during the opening of the new Silverstone Wing at the Silverstone Circuit, Northampton. PRESS ASSOCIATION Photo. Picture date: Tuesday May 17, 2011. See PA story AUTO Silverstone. Photo credit should read: David Davies/PA Wire.
BOSSES at Silverstone have said the future of the South Nortants race track is secure, despite talks with international backers so far producing no results.
At the end of last year, the circuit’s managers entered exclusive talks with investors from Qatar to redevelop 760 acres of land around the track.
Plans included the development of leisure facilities, such as new hotels and a motorsports museum, an education facilities.
But that exclusivity agreement came to an end this week.
Stuart Rolt, the chairman of the British Racing Drivers’ Club (BRDC), which owns Silverstone, said the commercial potential of circuit and the estate is significant and they are seeking external investment, from third parties to help them realise that potential more quickly.
Mr Rolt added: “While progress has, and is, being made with our original preferred partner, negotiations have not yet developed into an agreement. As the period of exclusivity has come to a close we are now speaking to other potential investors.”
The BRDC has already funded the new Grand Prix circuit, the new pit and paddock complex, as part of the first phase of the Silverstone Masterplan.
Mr Rolt said they want an investor who shared their vision to turn the circuit into a multi-purpose centre for motor sport, high technology business, training and education.
Last year Northants County Council agreed a £1.5million funding programme and this year started the process of establishing of a University Technical College at the Circuit.
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