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Jaguar Land Rover Edge Closer to Silverstone Deal

Jaguar Land Rover Edge Closer to Silverstone Deal

Silverstone owners have voted to move ahead with talks as Jaguar Land Rover look to secure a deal for the iconic racetrack. JLR want to relocate their staff and use the venue to showcase their rapidly expanding range of vehicles. There are also plans in place for leisure facilities centred around motor racing along with a hotel. Owned by the British Racing Drivers Club, the vote took place on Thursday night with further talks being backed by a narrow margin.

Another Step Towards Silverstone

The deal is thought to offer the prospect of a £33m injection in return for a 249-year lease on the circuit, although this hasn’t been confirmed yet. The ambitious plans are all part of JLR’s ongoing expansion after the company have already posted record quarterly figures for 2016. Over £11b has been invested in the company since Tata bought it in 2008 and they have now become the UK’s biggest automotive company.

A spokesman for JLR said: “Jaguar Land Rover regularly evaluates opportunities to support its long-term and sustainable growth in the UK.

“As part of this, we are exploring potential options at Silverstone with the BRDC, but it is too soon to share details at this stage.”

« Back • Posted on 2016-04-08