Owner denies running dry amid Silverstone upgrade

By on Friday, February 11, 2011

Feb.11 (GMM) The British Racing Drivers' Club (BRDC) insists it has not run out of money to complete sweeping renovations at its British grand prix venue Silverstone.

The circuit-owning BRDC announced on Thursday it is seeking investors to help realise "the full potential of Silverstone".

A new pit and paddock complex is being constructed at the Northamptonshire venue, and there have been rumours that money is running short.

But the BRDC insisted that if a "suitable investor" is not found, "we will continue with the development ourselves, albeit at a slower pace".

Some observers interpreted the announcement as a desperate plea for more money, but BRDC chairman Stuart Rolt dismissed that view.

"You can see our accounts every year and they will tell you we are making money," he told the Telegraph.

"If there's one thing I want to get across it is that the rumours of impending financial peril are complete rubbish. These are exciting times," he added.

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