MAY 4, 1998
It has now been decided that these should be sold off to the American company Cendant for $760m and the money raised should be split between the full members of the organization. They will vote on the deal next month but as each stands to gain $50,000 from the sale it is unlikely that the plan will be opposed. The RAC will continue to run its two club houses and will remain in charge of British motor sport through its subsidiary, the Royal Automobile Club Motor Sports Association.
The sale of the RAC motoring service may mean that the British Grand Prix has to find a new sponsor as the event is currently supported by the organization and it is unlikely to be able to raise the kind of money needed once the commercial activities have been sold off.