FEBRUARY 6, 2006
St Modwen talks about Silverstone
The property development company St Modwen has been explaining its planned involvement at Silverstone, to try to calm fears that the British Racing Drivers' Club will lose control of the track because of a 125-year lease St Modwen will be granted to develop the facility.
St Modwen's senior executive director, Richard Froggatt, has toldn the Northampton News that the deal will not jeopardise the future of the BRDC.
"I can understand why some people might jump to conclusions about the BRDC's future with the track," Froggatt said, "but there's no way we could force them out. They're the custodians of Silverstone and they forever will be. We're looking to take the worldwide reputation Silverstone has already got and build on it. We want to get the technology park running properly and look at how we can turn Silverstone into a year-round operation. We'd be hoping to secure a couple of hotels and some residential development would help with financing the work required for circuit improvements."
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