Silverstone Race Track Is No Longer For Sale — Reasons Behind The Turnaround Revealed

Grant also said that the decision not to sell the track would remain unchanged and it will stay under the current ownership.

By Sreejith

Silverstone Race Track in the UK is no longer up for sale and aim to continue its path. John Grant, British Racing Drivers Club Chairman, confirmed this decision to safeguard the future of the circuit.

Silverstone Race Track Is No Longer For Sale

The Jaguar Land Rover Group seemed most likely to purchase the popular F1 and MotoGP venue. Apart from JLR, companies such as Porsche, Ginetta, and other individuals like former F1 driver Jonathan Palmer all showed their interest to purchase the race track.

Silverstone Race Track Is No Longer For Sale

The decision made by BDRC to not sell the race track was the final decision. Even though the Silverstone race track has been in talks for several months with different investors to increase funds, the company has decided to stand alone.

Silverstone Race Track Is No Longer For Sale

According to a report by Auto Sport, BDRC Chairman, John Grant stated, "We expected to pick up discussions with our 'unnamed substantial overseas investor' again [at the start of] the New Year.

Silverstone Race Track Is No Longer For Sale

"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 deal and continue on a go-it-alone basis. While this is not without risk, we feel sufficient confidence in the improved prospects for our business to justify this change of direction."

Silverstone Race Track Is No Longer For Sale

Grant also said that the decision not to sell the track would remain unchanged and it will stay under the current ownership.

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Read more on: #motorsport #auto news
Article Published On: Wednesday, March 1, 2017, 12:48 [IST]
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