The owners of Silverstone Circuit have ended negotiations with a potential investor without reaching an agreement.
The British Racing Drivers’ Club (BRDC) had been talks with a second investor for the lease of the circuit land and sale of Silverstone Circuits Limited (SCL) in a bid to ‘realise the potential of Silverstone and its 760-acre estate.’
The first investment, announced by the BRDC last September, was completed with British commercial property company MEPC, who bought a 999-year lease on the existing Silverstone Industrial Estate and development land around the outside of the circuit for £32 million.
John Grant, chairman of the BRDC, said: “The BRDC will now retain full ownership of SCL, whose highly experienced management team will continue to operate, promote and further develop Silverstone as a premier racing destination.
“With or without another investor, the futures of both Silverstone and the British Grand Prix are secure.
“The circuit business has enormous potential and MEPC’s development of Silverstone Park – a high-tech business park on land surrounding the circuit – will enhance the circuit’s image and value over the next several years.”
The BRDC Board has decided to shelve, for the time being, efforts to sell SCL.