Formula 1: Jaguar put Silverstone plans on hold

Jaguar Racing have put on hold plans to build a £100m super-factory at Silverstone.

The Formula One team revealed that they are actively looking at several other sites because of an impasse in negotiations with Silverstone's owners, the British Racing Drivers Club.

Jaguar boss Bobby Rahal said there were 'millions of pounds' of difference between the two parties valuation on leasing the 54-acre site at the Northamptonshire track.

"We have been trying to come to a conclusion with the BRDC which have negotiated in good faith," said Rahal.

"We are just currently pretty far apart on the economic aspect.

"We are at an impasse in terms of the negotiations, but that does not mean it is a dead issue. But it means the playing field is wide open and we are looking at alternative sites.

"We know what we want to pay and we know what they want to sell for. It is a big difference."

Jaguar want to move from their current base at Milton Keynes and - like Ferrari - bring their manufacturing, engine, wind tunnel and R&D departments all together in one base.

"This project got ahead of itself because everybody wanted it to happen so badly," added Rahal.