The British carmaker is considering a buyout of the Silverstone racing circuit, worth more than £23m
According to a report published by the Financial Times, UK car manufacturer Jaguar Land Rover and parent company TATA are considering a buyout of the Silverstone racing circuit, which it has valued at close to £23m.
It’s thought that if JLR made any offer, the company would use the Northamptonshire circuit as its central base of operations in the UK, with space to house the large heritage collection, as well as to build a proposed hotel and 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. Currently, no formal bid has been made, and any plans are in the very early stages.
Silverstone is currently owned by the British Racing Drivers Club, which has been involved in the circuit’s business affairs since the 1950s. The club isn’t actively looking to sell the circuit, but has always said that it would consider any offers brought to the table. For any deal to go ahead, it would require agreement from the club's 850 members - something that has caused issues with similar proposals in the past.
While Silverstone is perhaps best known for hosting the Formula 1 British Grand Prix, a potential buyout could cast doubt over its future, due to the huge cost associated with the event. As the BRDC would almost certainly continue to manage race activity at the circuit, other motor sport activity would likely remain unaffected.