The British Racing Drivers’ Club, owners of Silverstone, have decided not to sell the circuit and to take it off the market.
Discussions have been held over a number of months with numerous investors, including the Jaguar Land Rover Group, as the BRDC struggled to raise the funds necessary to host the British Grand Prix; the BRDC were forced to deny rumours earlier this year that they were intending on initiating the break clause in the GP’s contract.
But following Liberty Media’s takeover, they have decided to re-address their plans and have vowed to instead find the funds via other means, despite the choice bringing its own set of challenges.
“We expected to pick up discussions with our ‘unnamed substantial overseas investor’ again [at the start of] the New Year,” John Grant, BRDC chairman, told members in a statement.
“After further reflection and, in particular, completion of the sale of Formula 1 to Liberty Media, [the] Board has now decided to shelve discussions about a sale and continue on a go-it-alone basis.
“While this is not without risk, we feel sufficient confidence in the improved prospects for our business to justify this change of direction.”
The change in heart will mean a number of stalled plans will now take effect, including removing the club secretary role and introducing a new voluntary club ambassador.