November 8, 2016 / 3:02 AM / 9 months ago

BRDC in talks with investor for Silverstone circuit after JLR pulls out

MotoGP riders compete in the British Grand Prix at the Silverstone Race Circuit, Britain August 30, 2015.Darren Staples/Files

REUTERS - Owners of the British Grand Prix track said it had granted exclusivity to an overseas investor on future investment in the Silverstone Circuit, after talks with carmaker Jaguar Land Rover (JLR) were terminated.

In April, the British Racing Drivers' Club (BRDC) said it was in talks to lease the circuit's property to JLR, which had been considering turning the site into a "heritage centre" to show off its luxury cars.

BRDC said it could not disclose the identity of the investor due to a confidentiality agreement, and said the investor had long-established interests in the UK.

On Friday, Jaguar Land rover walked away from discussions, dealing a blow to the plans of the owners of Silverstone to boost the site's finances.

The BRDC said none of the proposed deal structures with JLR were acceptable, and a bid from Motor Sport Vision, is being held in reserve.

Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Shounak Dasgupta

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