The Telegraph’s Tom Cary has an interesting follow-up piece on the possible acquisition of Silverstone by an American investment group called Guggenheim Partners. It appears that the original group was Qatari-backed but the Qatari component has since backed out leaving the American group to forge ahead. Whether this deals happens or not, the BRDC were keen to assuage fears over the financial outlook at the circuit. A statement from the BRDC read:
“With or without any investment, the long-term futures of both Silverstone and the British Grand Prix are absolutely secure,” chairman Stuart Rolt said.
“If we cannot find a suitable partner, we shall continue with the development ourselves, albeit at a slower pace.”
Sure, the Brits have a great sense of humor and like to poke fun at Americans and they’re brash cowboy ways but this New York-based investment group may not be 100% American as the Virgin GRoup’s Richard Branson may be involved as well according to Cary.
The 150-lease is on the table and as Tom points out, there is a piece of land adjacent to the circuit owned by one Eddie Jordan that will have to be a separate transaction. I get it that we’ve gained a reputation due to American bravado and financial swagger but admit it, Jordan may have written the book on opportunistic business ventures and how to come out smelling of roses. Chances are Eddie will make it more painful for this group to close a deal than the BRDC could ever do.
One thing I do find interesting is that America is working feverishly on two circuits for Formula One and the investment opportunities are certainly here but let’s face it, if you were banking on a long-term investment in a circuit to host an F1 race and wanted to cash in on the opportunity, apparently this group doesn’t believe investing in the United States Grand Prix events makes sense.