NOVEMBER 16, 1998
Boardroom battles for Silverstone
THE SUNDAY TIMES in London reported last weekend that an $68m bid has been made for Silverstone racing circuit, the home of the British GP, by John Lewis, who has just resigned as chairman of Silverstone Estates, which manages the facility.
We understand that several bids have been received in recent months and rumors suggest that those interested include Rupert Murdoch's BSkyB satellite TV network and Silverstone's rival Brands Hatch Leisure, which wants to get Formula 1 racing back to the Kentish circuit.
While many members will object to the demutualisation of the circuit, the possible profits will certainly be an incentive to a large percentage of members. One option for the club is to float the company on the London Stock Exchange.