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Silverstone aims to raise £150m

ESPN Staff
August 14, 2012 « McLaren 'closer' to new Hamilton contract | Berger aims to reform path to Formula One »
The BRDC wants to continue expanding Silverstone with a long-term Formula One contract in place © Sutton Images
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Silverstone's owners - the British Racing Drivers Club (BRDC) - is looking to raise £150million of investment for its expansion plans.

The circuit has been redeveloped in recent years with a new £27m pit and paddock complex seeing the start/finish straight moved and a new track sector incorporated in to the grand prix layout. The BRDC has given itself until the end of this year to secure extra funds, with the board having waived its veto rights over development in order to attract investors.

Stuart Rolt, chairman of the BRDC, confirmed that it would be looking to sell off all or part of the 850 acres of land over the next few months.

"By the end of the year at the latest we will have either done a comprehensive deal for all of Silverstone or we will maybe be talking to entities about renting or buying a long lease on parts of the non-circuit land," Rolt told the Telegraph.

Silverstone currently has a long-term contract to host the British Grand Prix until 2027.