Investors sought for Silverstone
The British Racing Drivers’ Club (BRDC) is seeking commercial investors to help “realise the full potential” of Towcester-based racing venue Silverstone. As the first stage of the Silverstone Circuit nears completion, the BRDC has enlisted accountant PwC to approach potential investors.
Silverstone’s new multimillion-pound pit and paddock complex, named ‘The Wing’ has been constructed as part of plans to regenerate the track and its 760-acre estate.
The pit and paddock complex is the first stage of a development programme which the BRDC said will “transform Silverstone into a world-class, multi-purpose venue for motor sport, high technology development, training and education”.
The BRDC has now appointed PwC to prepare an information memorandum (IM), which will be circulated to appropriately qualified potential investors.
Investors are required to help develop facilities including hotels, a hall of fame to celebrate world motor sport, international and young driver academies, simulation motor sport training, a development and technology park, an enterprise zone, and international kart track.
Stuart Rolt, chairman of the BRDC, said: “The commercial potential of Silverstone and the estate is significant. With the new circuit, new pit and paddock complex and other existing key motor sport developments all funded, the time is right for the BRDC to consider potential investment from third parties who share our vision and can help us realise the full potential of Silverstone more rapidly.
“We are seeking external investment to help us realise the full potential of Silverstone more quickly. We have asked Robert Brooks, the previous chairman, to lead the process. If we cannot find a suitable investor, or are unable to agree satisfactory terms on a deal, we will continue with the development ourselves, albeit at a slower pace.”
