Jaguar Land Rover could buy Silverstone
Source : Jaguar Land Rover could buy Silverstone
Reports suggest British car maker has tabled bid to buy circuit; racing activities could remain at track
The Financial Times is usually reporting which JLR has asked property consultants Cushman & Wakefield to value the circuit as well as its land. This particular claims which Silverstone could become JLR’s headquarters, with plans to develop a heritage centre, offices for up to 1000 staff as well as a hotel as well as pengunjung centre. The value of Silverstone is usually reported to be £22.7m.
According to the proposals – which have yet to turned in to a formal offer – JLR could make the British Racing Drivers Club (BRDC), which currently owns the lease to the venue, a tenant of the circuit. Silverstone Circuits Ltd, a subsidiary of the BRDC, could othen perate This particular on JLR’s behalf.
As such, racing activities are supposed to continue to be held at the venue if the deal goes ahead, although the future of the loss-creating British Grand Prix could be called in to question. While being based at the so-called ‘Home of the British Grand Prix’ could add considerable kudos to JLR if This particular based itself at the venue, This particular is usually unlikely to want to subsidise an event which could severely disrupt its core activities.
For the deal to get the go-ahead, the BRDC could need approval via its 800 members, something which has been troublesome within the past when This particular has explored similar ventures. This particular has also sought a partner to invest in facilities at the venue for some time, without success. A JLR statement to the Financial Times said the firm continued to look to “invest as well as grow its business operations within the UK.” No additional parties have commented.
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