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BRDC confirms search for investment partners

NEWS STORY
10/02/2011

The British Racing Drivers' Club (BRDC) has confirmed that it is searching for commercial investment partners in its bid to further develop Silverstone.

It has appointed PricewaterhouseCoopers (PwC) in order to prepare an information memorandum (IM), which will be circulated to potential investors as the club seeks to develop Silverstone and its 760-acre estate.

In addition to the redevelopment of the circuit, which is nearing completion, the club is looking for help in realising its plan for other facilities such as hotels, a 'Hall of Fame' to celebrate world motor sport, international and young driver academies, simulation motor sport training, a development and technology park, an enterprise zone, an international kart track and off-road facilities.

"The commercial potential of Silverstone and the Estate is significant," said Stuart Rolt, Chairman of the BRDC. "With the new circuit, new Pit and Paddock complex and other existing key motor sport developments all funded, the time is right for the BRDC to consider potential investment from third parties who share our vision and can help us realise the full potential of Silverstone more rapidly. The redevelopment of Silverstone will be undertaken under the umbrella of the 'BRDC Members Charter'. This Charter requires that the race circuit is both protected and enhanced. Any developments around the venue and Estate will thus go hand-in-hand with further improvements to the circuit and motor sport facilities."

"This is not just an investment in the venue", added Rolt. "It is also an investment in the people at Silverstone. The circuit has the best and most experienced venue team in the world, running major international events such as the Formula 1 British Grand Prix, FIM MotoGP World Championship and Superbike World Championship - all of which performed well in 2010 - as well as the retail and corporate areas of the business. The business continues to grow and is a commercial success."

"We are seeking external investment to help us realise the full potential of Silverstone more quickly. We have asked Robert Brooks, previous Chairman, to lead the process. If we cannot find a suitable investor, or are unable to agree satisfactory terms on a deal, we will continue with the development ourselves, albeit at a slower pace."

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