Northampton

Silverstone Circuit 'no longer for sale' BRDC confirms

Silverstone Image copyright Getty Images/Clive Mason
Image caption The British Racing Drivers Club said it would be shelving discussions about a sale following the sale of Formula 1 to Liberty Media

The home of the Formula 1 British Grand Prix is no longer for sale, its owner has announced.

In a statement to its members, the British Racing Drivers Club (BRDC) said it has "decided to shelve discussions about a sale" of Silverstone Circuit.

Potential investors including the Jaguar Land Rover group and MotorSport Vision had previously shown interest in the Northamptonshire venue.

The statement added the move is "not without risk".

Image copyright Getty Images
Image caption Car maker Jaguar Land Rover had shown interest in buying Silverstone

Former British F1 driver Jonathan Palmer's MotorSport Vision pulled out of the running for the circuit before Christmas.

In November, Jaguar Land Rover said it had ended discussions with the BRDC "for the foreseeable future".

BRDC chairman John Grant said it had expected to "pick up discussions" with an "unnamed substantial overseas investor" in the new year, but added: "After further reflection and, in particular, completion of the sale of Formula 1 to Liberty Media, the board has now decided to shelve discussions about a sale and continue on a go-it-alone basis."

He said: "While this is not without risk, we feel sufficient confidence in the improved prospects for our business to justify this change of direction."

Background changes

Mr Grant also said the decision means background changes such as the removal of the club secretary role and the introduction of a new voluntary club ambassador would now be put in place.

These had been on hold while the talks were on-going.

Further details will be discussed at the BRDC's AGM, due to take place in April.

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