Dissident Silverstone members are challenging the board of the British Racing Drivers’ Club over the future of the 323.76ha (800 acre) Northamptonshire motor racing circuit and technology park.
The dissidents are unhappy at board plans to create an operating company to run the estate’s activities. Brands Hatch Leisure (BHL) has won the contract to operate the grand prix for five years from 2002 and is trying to get planning permission to upgrade its own circuit in Kent to Formula One standards.
The opponents are convinced BHL would prefer to negotiate a lease deal to keep the grand prix at Silverstone and the circuit’s commercial activities would be passed to BHL on a long lease. The club would keep the freehold of the assets. They believe BHL would be prepared to pay about £40m for a 25-year lease of Silverstone which would generate large windfall funds.
Financial Times 31/05/00 page 5
