Landlords no longer need to sell Silverstone circuit

Lewis Hamilton at Silverstone after the 2015 British Grand Prix
Lewis Hamilton at Silverstone after the 2015 British Grand Prix

The landlords of Silverstone are no longer under pressure to sell the famous racetrack, according to its president.

The British Racing Driver’s Club was reportedly prepared to sell the Northamptonshire circuit in August 2013.

Then, in 2014, a property group owned by the BT pension fund, paid £32million for a 999-year lease on 280 acres of land surrounding the circuit.

It was reported at the time that this money was welcomed to pay off debts.

Derek Warwick, president of the BRDC, now says the business is much stronger, with the 2015 F1 British Grand Prix making a profit for the first time in several years.

He said “The last five years have been difficult for us. We’ve not made money,” Warwick told Autosport.

“That is why we almost had to close the doors in order to survive. We were unable to spend or do anything.

“Eighteen months ago, in particular, we would have bitten anybody’s arm off [to sell].

“Now I don’t care if we do a deal or not. We’re still talking to two or three people and we’ve said ‘These are our terms’. It’s no longer about their terms.”