MARCH 8, 1999
The future of Silverstone
THE British Racing Drivers Club (BRDC) is to hold a meeting for its 800 members next month to decide the future of the Silverstone racing circuit which it owns.
THE British Racing Drivers Club (BRDC) is to hold a meeting for its 800 members next month to decide the future of the Silverstone racing circuit which it owns. The club has received a number of offers for the track in recent months and has been considering the various options with advice from the merchant bank Dresden Kleinwort Benson. While the circuit could simply be sold and the money divided up between the club members - which would mean a pay-off of around $100,000 each - there is the possibility that the BRDC might float itself on the Stock Exchange in London. Silverstone is a profitable business and there is plenty of room for expansion with a much larger technology park being planned next to the track. One of the circuit's chief strengths in the past has been its policy of reinvesting all its profits into improving Silverstone, something which will not happen if the company is floated.
With Brands Hatch bidding to become the home of the British Grand Prix in the future, the BRDC's decision over Silverstone could be very significant for British motor racing.