Jaguar Land Rover Ditches Plan To Purchase Formula One's Most Historic Track

Photo credit: Clive Mason/Getty Images
Photo credit: Clive Mason/Getty Images

Silverstone, the most recognizable racing circuit in the United Kingdom and site of the very first Formula One race in 1950, needs cash. Sadly, they won’t be getting it through a deal with Jaguar Land Rover anymore, reports Automotive News. Jaguar Land Rover had been in talks to lease or buy Silverstone.

A Jaguar Land Rover spokesman told Automotive News:

Jaguar Land Rover has ended discussions with the British Racing Drivers’ Club for the foreseeable future and is not proceeding with any plans to either lease or purchase Silverstone at this time

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The British Racing Drivers’ Club currently owns and operates the track, which is constantly in and out of the news for financial woes. Unlike many other F1 circuits, the British government does not offer Silverstone any financial support. The circuit recently underwent a major rework to score a 17-year British Grand Prix contract in 2009, adding to the already overwhelming financial burden of Formula One’s exorbitant hosting fees.

The automaker was considering using Silverstone as a base for a “heritage center” meant to show off its models, however, that won’t be happening now. More importantly for racing fans, it means that a vital stream of income the BRDC was hoping to have to make Silverstone viable is now off the table.

Moderator, OppositeLock. Former Staff Writer, Jalopnik. 1984 "Porschelump" 944 race car, 1971 Volkswagen 411 race car, 2010 Mitsubishi Lancer GTS.

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DISCUSSION

the1969dodgechargerguy
the 1969 Dodge Charger Guy

Pfffttttt! Not enough fans to support its operation, why should it be open? If the threat of closing doesn’t make F1 reduce their hosting fee, then lock the gates. Obviously it’s no loss if no one cares to attend.