LDC eyes up Silverstone

Silverstone's current owner, The British Racing Drivers' Club (BRDC), has been seeking a partner or investor to aid its debt burden following a redevelopment of the circuit, according to reports. There may also be plans to redevelop the land around the site as planning permission has already been granted.

It is understood the potential deal will be made up of two elements, with one investor backing a management buyout of Silverstone Circuits and another investor purchasing the site.

The MEPC, a property group backed by the BT pension fund, has previously been linked to buying the development land for around £40m. Some reports have also linked the MEPC with the LDC deal.

Private equity and motor racing are traditionally uncomfortable bedfellows following CVC Capital Partners' high-profile investment in Formula 1 in 2006, which the GP has struggled to exit as the deal has been besmirched by allegations of corruption.

Silverstone was originally a WWII airfield, built in 1943. The Royal Automobile Club approached the Air Ministry in 1948 in order to convert the disused airfield into a racing track. At this time the centre of the Silverstone Circuit was a farm producing cereal crops and a piggery. Silverstone's first racing event, the RAC Grand Prix, took place on 2 October 1948.

LDC did not respond to requests for comment prior to publishing.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• LDC
• CVC Capital Partners