Reports: Silverstone sold to allow development

0729LW1D0637A report has tonight emerged stating that Silverstone has been sold to an unknown buyer, making development in the surrounding area possible thanks to fresh investment.

According to The Independent, a buyer has been found for the Northamptonshire circuit that has hosted the British Grand Prix since 1987 after BRDC president Derek Warwick confirmed earlier this year that fresh investment was required.

A source within the British Racing Drivers’ Club (BRDC) explained to The Independent how the deal had been struck.

“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 source explained.

This deal will allow the BRDC to go ahead with an ambitious development programme that would see the construction of new facilities in and around the circuit.

Silverstone appeared to be in murky waters when the circuit lost the rights to host the British Grand Prix in 2009 to Donington Park. However, the Leicestershire-based circuit suffered from financial problems that forced it to pull out of the deal, giving Silverstone a reprieve.

Following the construction of the new wing on the new start/finish straight as part of the altered layout, the circuit has seen a great improvement in its facilities and has now become one of the most secure fixtures on the Formula One calendar, and this deal will only maintain Silverstone’s position as the home of British motorsport.

Image courtesy of Octane Photographic.

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