Silverstone to redevelop

Michael Schumacher, British GP 2004

Michael Schumacher, British GP 2004 

 © The Cahier Archive

The announcement of a deal for the British Grand Prix for the next five years will mean that the British Racing Drivers' Club, which owns the 800-acre facility, will now embark on a major redevelopment programme to create 750,000 sq ft of revenue-generating facilities, including a hotel. The BRDC is currently looking for partners for the project, which will presumably include a major hotel chain and probably retail companies as well. As part of the deal negotiated with the British authorities the rates payments for Silverstone will be reduced. This is probably related to the laws about temporary structures such as grandstands (which are normally rateable) although the details of the deal are confidential, presumably to avoid embarrassment for the government and demands from other facilities for similar treatment.

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