06/09/2016
NEWS STORY
The BRDC has confirmed that it has parted company with former Silverstone managing director Patrick Allen.
Mr Allen, who joined Silverstone as managing director in December 2014 after previous incumbent Richard Phillips was suspended, had begun to turn things around for the British circuit with a number of successful schemes including a low-cost airline pricing strategy with introductory tickets to the 2015 British Grand Prix starting at £99.
The success of such ideas was such that at the end of 2015 its annual accounts showed the BRDC finished in the black for the first time in a decade with a profit of £1.2m.
However, as the BRDC sought a buyer for Silverstone, Allen was suspended as he was perceived as being too close to Lawrence Tomlinson, owner of the Ginetta car company, who had made a bid for the circuit. Previously, Allen was commercial director of Tomlinson's LNT Group, which owns Ginetta and Ideal care homes.
Today, the BRDC issued a statement confirming that it had parted company with Allen.
"Patrick's contract with the BRDC has always been on a consultancy basis, with the purpose of reinvigorating the customer proposition and establishing an effective long-term business strategy," it reads.
"With these foundations now in place, permanency is required in Silverstone's leadership to take that strategy forward.
"The BRDC board fully acknowledges Patrick's contribution to Silverstone Circuits Limited and is pleased to have agreed terms to enable him to step aside and a new skilled team to continue to build on his success."
Given his success with Formula 1's British Grand Prix, it is understood Allen is hoping to find a new role within F1 in some capacity in the future.
"I have greatly enjoyed working at SCL," said Allen. "Some of you may have heard, or seen in the press, some rumours about my departure.
"It is true that some allegations were made against me but, for the avoidance of doubt, these have all been withdrawn and I am pleased to have concluded mutually agreeable terms with the BRDC."
Meanwhile, according to the BRDC's latest accounts it has accrued £55.9m of net losses in the past five years alone, chairman John Grant writing to members in February to announce; "we have no cash reserves to fund future development of the circuit."
A £33m deal which would have seen Jaguar Land Rover buy the circuit ground to a halt when it was revealed that Porsche, which runs a driving centre at Silverstone, has a veto over rival car manufacturers using the track for more than 45 days per year.