Silverstone owners seek new investment for development plans
THE OWNERS of Silverstone Circuit and the surrounding estate have renewed the search for investors to back their development plans.
The British Racing Drivers’ Club had signed an exclusivity agreement with a potential partner at the end of last year.
That period is coming to an end – although talks remain positive – and the club is to restart its quest for further external investment.
BRDC funding has created the new Grand Prix circuit at the Northamptonshire track, as well as the Silverstone Wing complex (pictured).
The circuit remains the home of the Santander-sponsored British Grand Prix and the government has announced plans to set up a University Technical College that will train up to 540 students aged 14-19 for a career in high-performance engineering or event management.
BRDC chairman Stuart Rolt said: “An appropriately qualified investor will help to develop Silverstone further, into a world-class, multi-purpose centre for motorsport, high-technology business, training and education. This is our vision and we remain committed to that.
“The commercial potential of Silverstone and the estate is significant and we are seeking external investment, from third parties who share our vision, to help us realise that potential more quickly.
“While progress has, and is, being made with our original preferred partner, negotiations have not yet developed into an agreement. As the period of exclusivity has come to a close we are now speaking to other potential investors.”
BRDC has also funded key developments around the venue and the planning process for the Silverstone Masterplan. Regardless of external investment, the future of the venue is secure, Mr Rolt added.
As well as hosting the British Grand Prix, Silverstone hosts the UK rounds of the FIM MotoGP World Championship and the Superbike World Championship.
“The Silverstone business continues to grow and is a commercial success,” Mr Rolt said. “Should the BRDC be successful in securing external investment, it will enable us to realise the full potential of Silverstone more quickly.
"If we cannot find a suitable partner, we shall continue with the development ourselves, albeit at a slower pace.”