Author: Oli Rushby Posted: 03 Dec 2015
British car giant Jaguar Land Rover is thought to be in extended talks about buying Britain’s home of motorsport, Silverstone race circuit.
The venue’s current owners, the British Racing Drivers Club (BRDC) have been searching for someone to take on the circuit for the past few years as the estate struggled to fund the colossal sanctioning fee to hold a round of Formula 1.
Earlier this year, Silverstone’s Managing Director, Patrick Allen, said that the future of the British F1 Grand Prix was ‘at risk’ without significant investment in the Silverstone circuit.
Now that investment could be on the way. According to reports in the Birmingham Mail, Jaguar Land Rover have have been given the green light to progress with a significant bid for the Silverstone estate, with plans to create a five-star hotel, JLR heritage centre, motor industry museum and vehicle design workshop on site.
Silverstone lost out on the deal to host the British Motorcycling Grand Prix last year with the contract instead awarded to the Circuit of Wales. However, with the Ebbw Vale venue not yet built, the promoters paid Silverstone to host the event for them this year and will again next year.