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The British Racing Drivers’ Club (BRDC), owners of Silverstone, are on lookout for a cash injection of 150 million pounds, according to The Telegraph. The next phase of development includes hotels and other such facilities at the Northamptonshire venue.
On Wednesday, the BRDC gathered for its Annual General Meeting in which the board was granted permission by its members to waive veto rights over development; this will allow for investors to come on-board and fund the remainder of the project.
“By the end of the year, at the latest, we will have either done a comprehensive deal for all of Silverstone or we will maybe be talking to entities about renting or buying a long lease on parts of the non-circuit land,” explains Stuart Rolt, Chairman of the BRDC.
This year’s British Grand Prix took place on 8 July. Although race day was a success, the overall meeting received much criticism as – with England being hit by severe amounts of rain – fans were greeted by huge traffic jams and sodden fields acting as car parks.