The Silverstone Wing, one of the BRDC's recent Silverstone developments that have left them with debts of around £12 million

The Silverstone Wing, one of the BRDC's recent Silverstone developments that have left them with debts of around £12 million, photo courtesy of Silverstone Circuits Limited

The BRDC have it seems failed in their attempts to secure new funding thorough selling a lease for the Northamptonshire circuit and now aim to sell Silverstone Holdings, which owns the circuit, in its entirety if necessary. The circuit with its 17 year contract for the British Grand Prix signed in 2009 has used loans to fund extensive work at the circuit including new pits and paddock but the next stages of the plan need more money and the BRDC have chosen to put the circuit up for sale in order to ensure its future, with developments still needed to bring it up to an appropriate standard to carry on hosting what is unofficially one of Formula One’s blue riband events.

 

While this doesn’t mean that the BRDC aren’t still willing to consider a lease agreement the preferred partners for the lease, a Qatari investment fund, have dropped out and buying the circuit is likely to appeal to a wider range of investors and be seen as a safer investment as well.

 

Stuart Rolt the BRDC chairman would according to the press release from the BRDC ‘not rule out anything up to and including the sale of 100 per cent of Silverstone holdings’. It must be assumed however that the BRDC would want written guarantees of specific investments as well as ongoing investments with Stuart Rolt having said that ‘we are looking for someone who is ready to spend over £100million in a twenty five year time period’. This money is likely to be spent on improvements including new hotels on site, expansion of the technology park and following this year’s rain soaked race perhaps more tarmaced car parks?