FEBRUARY 6, 2006
Racecourse company bids for Silverstone operations role
It seems that the British Racing Drivers' Club is planning to lease not only the racing circuit but also intends to sub-contract the operational activities at Silverstone as well. There was a similar arrangement for some years when Brands Hatch Circuits Ltd ran operations at Silverstone but that deal was dissolved after BHL was taken over by Octagon and made serious losses.
Northern Racing plc, which is listed on the London Stock Exchange, runs nine racecourses in Britain, including Chepstow, Uttoxeter and Fontwell. The company turns over around $27m a year and makes around $1.7m in profit. The company says that it is tghe preferred bidder for a 25-year-contract to operate Silverstone. Details of the proposal will be put before the BRDC membership at an Extraordinary General Meeting to be held on February 22.
Northern Pacing plc is a sister company of St Modwen, both having been controlled until 2004 by the late Sir Stanley Clarke.
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