British Grand Prix F1 venue, the Silverstone Race Track has decided to stop negotiation with potential investors and aim to continue its path. British Racing Drivers Club Chairman, John Grant stand firm in this decision to safeguard the future of the circuit and the British Grand Prix contract.
The UK-based Jaguar Land Rover Group was the highly anticipated company who will most likely purchase the Silverstone Race Track. Companies such as Porsche, Ginetta, and other individuals like former F1 driver Jonathan Palmer all placed their interest in the circuit race track.
The decision by BDRC to shut down its doors to potential investors was the final decision. Even though the company has been in talks for several months with different investors to increase funds for its pursuit of hosting the British Grand Prix, the company has decided to stand alone.
Due to the acquisition of Liberty Media in taking over Formula 1, BDRC has reconsidered its position and has decided to take its path, says Auto Sport. BDRC Chairman, John Grant stated the reason behind this decision.
He said, "We expected to pick up discussions with our 'unnamed substantial overseas investor' again [at the start of] the New Year. After further reflection and, in particular, completion of the sale of Formula 1 to Liberty Media, [the] Board has now decided to shelve discussions about a sale and continue on a go-it-alone basis. While this is not without risk, we feel sufficient confidence in the improved prospects for our business to justify this change of direction."
Grant also added that the finalization of the decision impose several background changes that have been put on hold during the span of the negotiation will now be put in place. Thus, BDRC includes the removal of the club secretary role, and a new voluntary club ambassador.
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