OCTOBER 4, 1999
Brands Hatch makes a big profit
BRANDS HATCH LEISURE revealed a profit of $3m for the first six months of 1999 and the company - which hopes to host the British Grand Prix at Brands Hatch in 2002, says that the figure for the second half of the year will be even better thanks to income from the World Super Bike Championship event which was held in August. BHL has done particularly well this year thanks to an investment in buying two kart circuits in West London and Milton Keynes and track hire and testing income is on the increase. The new Jackie Stewart Business Center at Oulton Park is also producing new revenue.
BHL chief executive Nicola Foulston created headlines by saying that the group is going to invest abroad and this was interpreted as being a threat to move the British GP abroad. These crazy rumors have been rejected as Foulston does not own the rights to the name "British Grand Prix" and the Motorsport Association (MSA) has no reason to support a British GP abroad.
BHL says that it is planning to develop new race tracks in Asia, Latin America and Africa and speculation has also linked the company with the possible purchase of Estoril. Other likely targets are Interlagos (which is being sold by the Sao Paulo city council), Kyalami and Zhuhai. Owning a number of race tracks should increase BHL profits and give Foulston a better bargaining position with race authorities.
|Print News Story|
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