The British Racing Drivers’ Club has announced that negotiations with a potential investor over the lease of the circuit land and sale of the Silverstone Circuits Limited business have failed to reach a final agreement. A second lease, agreed with commercial property company MEPC for the industrial and development land around the circuit remains in place
“After intense efforts to secure an acceptable deal, we have not been able to bring negotiations with the second potential investor to a satisfactory conclusion,” said John Grant, Chairman of the BRDC. “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. We are delighted with the progress MEPC is already making. They are proving to be excellent partners and strong believers in our shared vision for Silverstone. We look forward to working with them towards implementing our joint vision for the development of Silverstone as a globally recognised centre for world-class motor sport and advanced technology.”
The BRDC Board has decided to shelve efforts to sell the SCL business. As the authority granted by BRDC members to the board to secure a deal has now expired, no further agreements of this nature will be entered into without first communicating with members.