The owners of Silverstone have refused to confirm or deny reports the south Northamptonshire race track could be sold to a property group owned by BT’s pension fund.
Business magazine, Property Week, has reported that business and science park developer, MEPC, is close to securing a £40 million deal to buy the track.
It is believed the deal would see the circuit leased back to Silverstone’s owner, the British Racing Drivers’ Club (BRDC), which would use funds from the sale to invest in the running of the circuit.
A spokesman for Silverstone said discussions with potential investors, which have been ongoing for some time, are progressing, but refused to confirm whether any sale was imminent.
He said: “Further to previous statements, the BRDC can confirm that it remains in discussion with parties interested in investing in Silverstone. Those discussions are progressing.
“Under the terms of non-disclosure agreements the BRDC is not able to comment on any details or speculation surrounding potential investors.”
As far back as 2011, it was suggested the Qatar Investment Authority, which owns Harrods, was in talks with the BRDC about taking on a 150-year lease on the circuit.
At the time, it was suggested the move would have helped fund long standing plans to create new facilities at the circuit, including three new hotels, a museum of motorsport, a kart track and an outdoor stage.
The Formula 1 British Grand Prix is due to be held at Silverstone on Sunday, June 30.