Jaguar Land Rover and Ginetta Cars owner Lawrence Tomlinson has failed to agree a deal with the current owners of Silverstone, the British Racing Drivers Club or BRDC.
This failure casts further doubt over the circuit’s ability to host the British Formula One Grand Prix beyond 2019.
BRDC President Derek Warwick told reporters in September the 5% escalator clause inserted into the deal with Formula One management in December 2009 had now become a financial burden to the current owners which was forcing them to consider their options.
Speaking to Autosport.com, BRDC Chairman John Grant revealed why these two bids failed: “Discussions with JLR have been terminated because we couldn’t come to a deal that met their requirements as well as ours.
“Lawrence had extended his option until October 31 but his offer lapsed when we hadn’t made a decision by then.
“The JLR deal was the only one that would have enabled us to retain control of the Silverstone business. All of the others want to buy Silverstone Circuits Ltd, the business that runs the track.”
MotorSport Vision boss Jonathan Palmer and an unknown fourth party referred to as ‘a substantial overseas investor with long-established interests in the UK’ by Grant are both still in negotiations with the BRDC providing hope that Silverstone can continue hosting the Formula One Grand Prix for many years to come.
