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Silverstone 'sold'

Saturday 17th August 2013

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Silverstone 'sold'

Silverstone 'sold'

Silverstone, home of the British Grand Prix, has reportedly been 'sold' to an unnamed buyer, paving the way for a business park to be built on the grounds.

According to the Independent newspaper, in a bid to pay off mounting debts, the British Racing Drivers' Club has 'sold' the circuit to another party believed to a real estate firm for a reported "£40m."

However, the sale is not so much a sale as a "long-term lease" as BRDC's members did "not given consent for the board to sell Silverstone outright."

A BRDC member told the British newspaper: "A deal has been done on Silverstone.

"I don't know who bought it and I don't know what the terms are, but it is absolutely categoric that a deal has been done and not due to be announced until next month probably."

The deal is expected to result in new facilities being built at the track including a "business and technology park" which is in line with the BRDC's plans for the circuit that also include an "education campus and three hotels."

A spokesman for the BRDC refused to comment on the report as did property group MEPC, the last company that attempted to purchase the Northamptonshire circuit.

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