MotorSport Vision are no longer interested in taking over Silverstone, with the decision not related to the recent deal of taking over Donington Park.
Jonathan Palmer, founder of MSV, made an official bid to purchase the circuit last year after a deal by Jaguar Land Rover encountered problems. Earlier this month, MSV announced that they had reached an agreement with Donington’s current owner, Kevin Wheatcroft, to acquire the circuit business.
Palmer told Autosport that the decision to acquire Donington was not a deal instead of Silverstone.
“We expressed an interest [in Silverstone] initially, but we are going to focus our operations on our existing businesses,” said Palmer.
“This deal with Donington was not a deal instead of Silverstone, it was completely separate. But we have no plans to operate Silverstone any more.”
Palmer believes with the infrastructure within the other parts of their business, this will be beneficial to Donington, he admitted that some work will be needed to be done to the track itself, including safety modifications, resurfacing and paddock improvements.
“It is becoming increasingly difficult for solo circuit to operate well with the funding restraints that come with operating alone,” he added.
“By tying up this deal, we will help to build a strong future for Donington Park. We have the infrastructure within the other parts of our business that can only be of benefit to Donington Park and its operation. I have always been fond of Donington, and was on pole there twice in my F2 career.
“I was always a big admirer of the way [former circuit boss] Tom Wheatcroft went about bringing the venue back to life in 1977, despite the many obstacles he faced. We want to keep the heart and soul of the circuit as it always has been – it is one of the most challenging tracks in the UK and it has unparalleled history.”