The British Racing Drivers’ Club (BRDC), the owners of Silverstone Circuit, has decided that the track is no longer for sale, writes James Beckett.
The BRDC had been in talks with numerous potential investors, including the Jaguar Land Rover group, for several months in an attempt to raise funds to secure the future of the British Grand Prix.
With Jonathan Palmer’s MotorSport Vision (MSV) company deciding against an involvement with Silverstone prior to Christmas, and the BRDC forced to deny it would operate a break clause in the Grand Prix contract as the cost of hosting F1 was increasing, the BRDC changed their plans and have decided to take the track off the market.
In a statement to members of the BRDC, John Grant, the Chairman said: “We expected to pick up discussions with our ‘unnamed substantial overseas investor again at the start of the New Year.
“After further reflection and, in particular, completion of the sale of Formula 1 to Liberty Media, the Board has now decided to shelve discussions about a sale and continue on a go-it-alone basis.
“While this is not without risk, we feel sufficient confidence in the improved prospects for our business to justify this change of direction.”
Grant also reported to members that the decision not to sell the track meant that several changes, which had been put on hold for a while, would now be put in place that includes the removal of the BRDC Club Secretary role and the introduction of a voluntary Club Ambassador position.
The Silverstone 2017 international season roars into action in April, when the FIA World Endurance Championship (WEC) visits the local track for the first round of its championship.