Green light for Silverstone developments

With its 17-year contract with Bernie Ecclestone, Silverstone benefits from the long-term vision that allows it to implement development works aimed at making it a sustainable economic activity throughout the year. Its development plans for the next 20 years have just been approved by the municipal and regional council.

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The work started last year concerned the circuit itself as it involved building a new paddock and a new pit straight with new pit boxes meeting the standards imposed by the new additions to the F1 calendar.

The aim is to move to the next step, which will turn Silverstone into a true economic activity zone. The plan submitted to the Aylesbury Vale District Council and the South Northamptonshire Council includes an economic activity zone, a technology park, a university campus, three hotels, and new infrastructures for spectators and leisure. Indeed, the circuit, owned by the British Racing Drivers’ Club, also wants to build both an indoor and outdoor karting track, alongside the “Welcome Club” and a motorsport museum.

To finance such investments, the British Racing Drivers’ Club could respond favorably to an offer made by Qatar Investment Authority for the Qatari investment fund to sign a 150-year lease of the Northamptonshire circuit. The bidding process has not yet been finalized, but the announcement made by the British authorities could trigger the signing as it provides very significant growth prospects (and therefore economic capital gains) for the circuit.

Richard Philips, the Managing Director of Silverstone Holdings Ltd., stated: “We are delighted with this decision and the approval of our plan. This is the most significant initiative Silverstone has undertaken in its 60-year history as the Home of British Motor Racing. This plan will help us maintain Silverstone’s position as a global hub for sports, entertainment, education, technology, and uphold its standing as a worldwide destination for motorsport.”

With the participation of RacingBusiness.fr

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