BRDC Make Appointment to Attract Silverstone Investment
February 11, 2011
A bid to attract commercial investment the British Racing Drivers’ Club (BRDC) has announced that PricewaterhouseCoopers will aid in the drive for the continuing development of Silverstone.
The BRDC owns the track, which is one year into a 17-year deal to host Formula One’s British Grand Prix, and a new pit and paddock complex is nearing completion ahead of this year’s F1 race.
However, the BRDC has appointed PricewaterhouseCoopers to attract investment for a series of new projects including hotels, a hall of fame, young driver academies and an international-standard kart track in plans to “realise the full potential of Silverstone and its 760-acre estate”.
BRDC chairman Stuart Rolt stated: “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.”
He added: “The commercial potential of Silverstone and the estate is significant. 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.”
