DECEMBER 13, 2002
Brands Hatch will not be sold
Octagon Motorsports, the company which owns Brands Hatch has said that it is not planning to sell the Kent circuit for housing. The company is under pressure from its US parent Interpublic to improve its performance and there have been reports in recent days that there are plans to sell off the four circuits which it owns in Britain. There are also suggestions that Octagon may have sold its lease on Silverstone.
The 400-acre site is extremely valuable if planning permission could be obtained and it is estimated that it could earn Interpublic as much as $500m. The local authorities are however unlikely to grant planning permission as the local area is heavily protected against development. This has been the major problem for Brands Hatch as it is not allowed to upgrade its facilities and as a result the circuit has not hosted a Grand Prix in 16 years. Octagon bought Brands Hatch and the other circuits for $180m in 1999 but the group has struggled to turn a profit, notably with the right to promote the British GP.
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