Silverstone to raise $400m with 100-year lease

By on Saturday, August 27, 2011

Rumours at Spa this weekend suggest British grand prix venue Silverstone will be leased to a private bidder.

The Independent newspaper said the Northamptonshire venue's owner the British Racing Drivers' Club is signing a 100-year lease with the unnamed bidder "for around $400m".

The news ties in with the recent lodgement of plans to develop the area around the circuit with business and technology parks, a welcome centre, a motor sport museum, an education campus and three hotels.

Managing director Richard Phillips said of the plans recently: "This is the most important initiative that Silverstone has taken in its 60-year history."

Bernie Ecclestone, already in control at Paul Ricard and Turkey's Istanbul Park, has denied he is the buyer of the Silverstone lease.


If you liked this post then share it with your friends on social media websites. You can also follow us on Facebook and Twitter to stay up to date with the latest F1 news.