Jaguar Land Rover deal to take over Silverstone moves forward

Sunday, May 29th, 2016 - autos, cars, motoring, news

Source : Jaguar Land Rover deal to take over Silverstone moves forward

Jaguar Racing at Silverstone his circuit race within the British Racing Driver’s Club (BRDC) votes to move forward in negotiations with Geller, who wants to make the track home

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Jaguar Land Rover (BRDC) ‘s deal to buy long-term lease on the Silverstone was yesterday awarded a thumbs-up by members of the British Grand Prix Driving Club, which owns the racetrack.

In general EGM, 820 members of the club voted by a slim majority in favor of moving forward in negotiations with Geller.

next phase is usually to Geller along with Silverstone to discuss the logistics of the agreement in terms of financial resources along with the duration of the lease. of which has been reported of which Geller will pay around £ 33M to the BRDC in installments, along with is usually seeking a lease for 249, yet This specific was not officially confirmed by the company.

JLR plans to make Silverstone the company’s headquarters within the UK, with plans to develop a heritage center along with museum display, workshop design, hotels along with buildings customer delivery includes as part of This specific proposal. In total, there will be offices for about 1,000 employees.

A statement issued by Geller only of which the company “is usually considering possible options at Silverstone with the BRDC, yet of which is usually too early to share details at This specific stage. All confidential discussions remain.”

Under the agreement, of which is usually BRDC is usually likely to become a tenant of the circle along with Silverstone circuit Limited (SCL), one of the operating companies, which is usually a subsidiary of BRDC, then run track Geller’s behalf.

is usually also likely to continue to be held in place if the deal forward, including the British Grand Prix race losing such activities, along with races. Under the agreement, of which is usually likely to retain the contract with Formula One Administration 1 (FOM) to host a Grand Prix within the SCL until 2026.

ahead of the vote on the BRDC, club chairman John Grant said of which there might be “legally binding agreements of which [ Geller will not do anything of which might cause the destruction of major events. ” He added of which an attempt Geller might be “more than enough to settle [along with BRDC’s] debts along with obligations”

of which the addition of Silverstone to its portfolio will allow JLR our fresh official ‘home’ within the United Kingdom – for the experience under the title within the same vein as the Mercedes-Benz the globe, which is usually based in Brooklands. You can then use parts of the Silverstone test drive, along with train drivers along with delivery customers.

put

no timetable for negotiations yet of which is usually likely of which Geller will seek to conclude a deal within months. Autocar understands of which even if the plan does not go ahead, the date of completion of the project will be sitting strongly after 2020.

of which is usually believed of which while the private car Operations Section Geller will have a presence at the fresh location, a permanent band will house still in ProLogis Park Coventry.

clouded the issue of the ownership of Silverstone during the second proposal, headed by Ginetta cars boss Lawrence Tomlinson. within the days leading up to the vote on Thursday, he said he along with different club members pressed for “no” voice to try to Geller along with expressed concerns about the security of motor racing in place if a deal went with the next car company. According to the Bulletin’s sister Autocar in Autosport Tomlinson has suggested, grabbing at Silverstone in its entirety.

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Source: Jaguar Land Rover deal to take over Silverstone moves forward

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