Jaguar Land Rover Very Close To Silverstone Purchase

Negotiations for the purchase of the Silverstone racing complex by Jaguar Land

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by Brad Anderson

February 27, 2016 at 12:17

Negotiations for the purchase of the Silverstone racing complex by Jaguar Land Rover are, reportedly, “well down the road”.

The racetrack is currently owned by the British Racing Drivers Club but a proposed deal from Jaguar Land Rover has been presented to its members for consideration and final approval. .

Members’ response to According to the JLR offer has been positive, said BRDC president Derek Warwick.

“There’s still a lot of work to do to get the deal to where both sides are happy and more importantly what’s right for the BRDC and it’s members. Having said that, we are well down the road. We told the members to get a flavor of what they thought of the deal.“The response was favorable so we will now set up an EGM for the members to vote and give the board a mandate to proceed with the deal and continue with the negotiations with JLR.”

The BRDC has owned Silverstone since 1971, but has often struggled to meet the high costs of hosting a Formula One race. Unlike many other F1 venues, Silverstone doesn’t receive state fundin,g so a deal with JLR could prove its saving grace.

Story references: Autosport