Silverstone no longer up for sale

Date published: February 22 2017 - Editor

The British Racing Drivers Club has announced that Silverstone is off the market and they will continue on a 'go-it-alone' basis.

The current Silverstone owners have struggled to raise the funds necessary to continue hosting the British Grand Prix and, as a result, had been in talks with new investors which included the Jaguar Land Rover group and MotorSport Vision.

But now the BRDC will go their own way, citing the takeover by Liberty Media as a key reason behind the decision.

"We expected to pick up discussions with our 'unnamed substantial overseas investor' again [at the start of] the New Year." BRDC chairman John Grant said in a statement addressed to members.

"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.

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