British Grand Prix, JLR in talks to lease track

The Dollar Business Bureau

British Grand Prix track Silverstone is in talks with Tata Motors owned Jaguar Land Rover (JLR) to lease the Silverstone circuit according to the owners of the Formula One site. Until July 2016, JLR can exclusively negotiate a deal to purchase the Silverstone circuit. Among other interested parties, Ginetta Cars’ owner Lawrence Tomlinson has been blocked from negotiating a deal till July this year, but the offer has created more of a split in the vote than it had been expected.

Earlier, the British Racing Drivers' Club (BRDC) met at the track to discuss the potential sale to JLR. It was put to a vote with reports claiming 54 per cent of the members agreed to give JLR exclusive rights to negotiate a sale. The deal is believed to be worth 33 million pounds for the lease of 249 years on the Northamptonshire track. The BRDC will retain the rights to run the British Grand Prix at the track and will also cover the cost of hosting the Grand Prix as per reports of British media.

They have also reported that JLR is mulling to turn the Formula One site into a “glorious heritage centre” to show off the company’s cars along with its offices, a hotel and visitor centre. “Members of the BRDC, which own the central English track and surrounding land, voted to continue discussions with JLR. The potential deal would align Silverstone with two premier British brands and put the BRDC on a stronger financial footing,” a spokeswoman said.

JLR could operate the site as an equivalent to locations such as Daimler’s Mercedes-Benz World in London that provides families days including driving experiences, guided tours and simulated rides, raising extra revenue for the firm. Some BRDC members have raised concerns over the sale of Silverstone to a corporation instead of a motorsport-related organisation.