Silverstone sold

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According to the Telegraph, Silverstone has been sold. The identity of the new owners is unclear but a BRDC member told the Telegraph’s Christian Sylt:

“A deal has been done on Silverstone. I don’t know who bought it and I don’t know what the terms are, but it is absolutely categoric that a deal has been done and not due to be announced until next month probably.”

The owners, BRDC, have been trying to find a buyer for a 150-year lease option and it is believed to be a real estate firm who may have taken them up on the offer. The new owners would be the promoters of the formula 1 Grand Prix and would also be in charge of the development in and around the circuit. Sylt says that the plans include:

“The BRDC’s masterplan for Silverstone includes construction of a new business park, a technology hub, education campus and three hotels.”

It is understood that Formula One boss Bernie Ecclestone is slated to meet with the new owners next week but did no divulge the identity of the group.

Considering the cost of a 17-ear contract to host the British Grand Prix and no government subsidies, the new owners may find that their investment is a closely run thing. Profit has eluded the BRDC for their efforts with the grand prix but perhaps a new lease, new owners and new look on life at Silverstone may help.

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