Porsche SA buys Kyalami circuit at auction
28 July 2014 – South Africa's Kyalami circuit, which hosted F1 for almost two decades, has been bought by Porsche.
The 72-hectare property, featuring the 4.26-km track, was put up for sale during an auction in Johannesburg last week, with Porsche South Africa's bid of 205 million rand (11.4 million pounds) enough to secure ownership.
After completing the process, Porsche made it clear that the venue, which last welcomed an international category in the form of the World Superbike Championship in 2010, will remain open to racing in the future.
"The most important thing is that Kyalami has been saved for racing and we'll continue to operate it as a race track," explained Toby Venter, who is in charge of the German manufacturer's South African arm.
Kyalami staged Formula 1 races from 1967 to 1985, before it was boycotted because of the former apartheid regime. It made a brief return for 1992 and 1993, but fell again after the bankruptcy of a major sponsor.