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Tuesday, 07 February 2006 |
Silverstone to be renovated
Silverstone is about to be renovated as plans are announced to lease out the home of the British Grand Prix
The British Racing Drivers' Club (BRDC) who own Silverstone is backing
a blueprint from developers St Modwen to greatly overhaul the
Northamptonshire racing circuit.
And St Modwen's sister company Northern Racing would then take over the
running of the track for the next 25 years. Northern Racing also runs
nine other horse-racing courses including Uttoxeter and Chepstow.
The chairman of the BRDC Stuart Rolt has written to members to
"strongly recommend" that they accept the plan in their vote this
month.
Writing in his memo, Stuart Rolt explained that the BRDC considered
several choices on how to ensure Silverstone's long-term future,
including "voluntarily giving up the British Grand Prix".
He said that that option has since been abandoned as the race "is a key
part of the club's activities and is a significant element of the value
of Silverstone".
Stuart Rolt also announced that the BRDC's view was that a renovation
of the track was not possible without the assistance of a big developer
like St Modwen.
And he explained that daily operations at Silverstone are also continuing to become harder to deal with.
Stuart Rolt wrote: "The inescapable reality is that present day circuit
operations, heavily dependent as they are on one high-profile event,
involve substantial commercial risk."
The terms of the deal with the development company include an
obligation to promote the British Grand Prix until 2009 and it
incorporates a requirement to "to seek renewal" of the deal with
Formula One boss Bernie Ecclestone beyond that time.
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Last Updated ( Friday, 10 February 2006 )
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Motor Sports 
