The British Racing Drivers’ Club have outlined plans to attract commercial investment as they continue their development of Silverstone.
The BRDC own the Northamptonshire track, which is one year into a 17-year deal to host the British Grand Prix, and have overseen the construction of the new pit and paddock complex – named ’The Wing’ – on what will be the start/finish straight when Formula One returns in July.
The circuit, which held the inaugural Formula One World Championship race in 1950, will also play host to MotoGP and the Superbike World Championship in 2011 and the BRDC have asked PricewaterhouseCoopers to prepare an information memorandum (IM) to circulate to appropriate potential investors.
The move comes as the BRDC seek to develop hotels, a motorsport hall of fame, driver academies, simulation motor sport training, a development and technology park, an enterprise zone, international kart track and off-road facilities on the site.
BRDC chairman Stuart Rolt said: “The commercial potential of Silverstone and the estate is significant.
“With the new circuit, new pit and paddock complex and other existing key motor sport developments all funded, the time is right for the BRDC to consider potential investment from third parties who share our vision and can help us realise the full potential of Silverstone more rapidly.
“The redevelopment of Silverstone will be undertaken under the umbrella of the ’BRDC Members Charter’. This charter requires that the race circuit is both protected and enhanced.
“Any developments around the venue and estate will thus go hand-in-hand with further improvements to the circuit and motor sport facilities.”
However, Rolt was also keen to point out that the circuit is in good health financially and that the effort to secure third-party funding is simply an attempt to speed up the process of development.
He added: “We are seeking external investment to help us realise the full potential of Silverstone more quickly. We have asked Robert Brooks, previous chairman, to lead the process.
“If we cannot find a suitable investor, or are unable to agree satisfactory terms on a deal, we will continue with the development ourselves, albeit at a slower pace.”