Jaguar to buy Silverstone?
British carmaker is reported to have made a bid on the iconic circuit – worth more than £23m
ACCORDING TO A REPORT published by the Financial Times, Jaguar Land Rover and parent company Tata Group are hoping to buy Silverstone racing circuit, which it has valued at close to £23m.
It’s thought JLR would use the Northamptonshire circuit as its UK HQ, with space for its heritage collection, a hotel and a visitor centre.
The information comes via documents seen by the FT, drawn up by Cushman & Wakefield, a property consultant brought in by JLR to value the circuit. No formal bid has been made, and plans are in early stages.
Silverstone is owned by the British Racing Drivers Club, which has been involved with the circuit since the 1950s. A spokesperson told Octane: ‘Silverstone is not for sale and no formal offer has been received. We have a fantastic asset and are one of the best-known race circuits in the world so it is unsurprising that from time to time the BRDC receives confidential approaches from a number of different parties attracted to this iconic venue. Should an attractive offer be received from any party, the BRDC board has an obligation to assess it and seek a mandate from members before progressing it.’ That has caused issues with proposals in the past.
It is understood that any agreement would allow Silverstone to remain the home of British motor sport – including the British F1 Grand Prix, hosted there since 1948.
While it has been reported that a spokesman for JLR has confirmed its continuing search for investment and business opportunities in the UK, no further comment has been made.