Jaguar Land Rover (JLR) in Negotiations to Buy Silverstone Racing Circuit – Report

Kuala Lumpur: Jaguar Land Rover (JLR) is reportedly in negotiations to buy the Silverstone Racing Circuit – the “Home of British Motor Racing”. As reported by the Coventry Telegraph, the British Multinational Automaker is supposed to have made a bid for the for the circuit which is renowned for hosting the British Grand Prix. The circuit is said to be valued around £23million and if the deal is finalised, the JLR is expected to have big plans for the historic circuit. The Coventry-based automaker wants to build up a Jaguar Land Rover heritage centre, a vehicle design workshop, a five-star hotel, a motor industry museum, offices as well as a visitor center at the site.

A source close to JLR says, “They have been trying to buy Silverstone for a while now. Talks are still ongoing and the deal isn’t sealed yet. They are interested in it for testing cars and the motor sport side.”

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The Telegraph speculates that the talks between the Jaguar Land Rover and British Racing Drivers' Club – the owner of Silverstone Racing Circuit, are continuing with the board of the parent company Tata Motors having already given the green light.

The future of Formula One’s British Grand Prix is at risk after the Managing Director of the Silverstone race track, Patrick Allen, revealed in September that the track is in need of an investor and lacks sufficient funding. Obviously, any agreement would allow Silverstone to remain the “Home of British Motor Racing” with the events like Moto GP, World Superbikes, Grand Prix, and the British Touring Car Championship taking place at the circuit.

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Jaguar Land Rover's plans for the historic circuit which is supposed to include using it as a base for up to one thousand sales and marketing staff in addition to seven hundred engineers. The subsidiary of Indian automaker, Tata Motors has already made an offer to British Racing Driver's Club, an 850-member group of the most successful racing drivers from Great Britain and Commonwealth, for the 249-year leasehold of the Silverstone.

A JLR spokesperson has said: “Jaguar Land Rover continually looks to invest and grow its business operations in the UK. We constantly evaluate a wide range of opportunities which are confidential. We have no further comment to make on this matter."

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