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.

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