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Silverstone seeks investors to speed up development

ESPNF1 Staff
February 10, 2011 « Chandhok plays down test's significance | »
The new pit and paddock complex is nearly complete but Silverstone wants to go further © Silverstone
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The British Racing Drivers' Club (BRDC) is on the search for investors to help it achieve its dream of completely transforming the Silverstone race track.

A new pit and paddock complex is nearing completion at the circuit and should be in use for this year's British Grand Prix, but the BRDC has plans to "realise the full potential of Silverstone and its 760-acre estate". It has appointed Pricewaterhouse Coopers to attract investment for a series of new initiatives on the site, including hotels, a hall of fame, young driver academies and an international-standard kart track.

Chairman of the BRDC 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."

He made clear that the circuit was still in strong financial health: "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."