BRDC CONTINUES SEARCH FOR INVESTORS
The British Racing Drivers’ Club (BRDC) continues its plan to attract commercial investment to help realise the full potential of Silverstone and its 760-acre Estate.
The BRDC signed an exclusivity agreement with one prospective partner towards the end of 2011. Negotiations with the potential investor remain positive, but with the period of exclusivity coming to a close the BRDC plans to broaden its search and engage with other interested parties.
Stuart Rolt, Chairman of the BRDC, said, “The commercial potential of Silverstone and the Estate is significant and we are seeking external investment, from third parties who share our vision, to help us realise that potential more quickly. While progress has, and is, being made with our original preferred partner, negotiations have not yet developed into an agreement. As the period of exclusivity has come to a close we are now speaking to other potential investors.
“The BRDC has funded the new Grand Prix circuit, state-of-the-art Silverstone Wing complex, key developments around the venue and the planning process for the Silverstone Masterplan. An appropriately qualified investor will help to develop Silverstone further, into a world-class, multi-purpose centre for motor sport, high technology business, training and education. This is our vision and we remain committed to that.”
Any new facilities will add to the venue’s existing thriving business, which includes Silverstone’s flagship event, the FORMULA 1 SANTANDER BRITISH GRAND PRIX, for which tickets continue to sell well. The government’s plans to fund and establish a University Technical College (UTC) at Silverstone will be another significant development, providing up to 540 young people aged 14-19 with the opportunity to train for a career in High Performance Engineering or Event Management.
Reiterating the circuit’s bright future, Stuart concluded, “With or without any investment, the long term futures of both Silverstone and the Formula 1 British Grand Prix are absolutely secure. The Silverstone business continues to grow and is a commercial success, running major international events such as the FORMULA 1 SANTANDER BRITISH GRAND PRIX and Britain’s rounds of the FIM MotoGP World Championship and Superbike World Championship. Should the BRDC be successful in securing external investment, it will enable us to realise the full potential of Silverstone more quickly. If we cannot find a suitable partner, we shall continue with the development ourselves, albeit at a slower pace.”