Jaguar Land Rover closes on Silverstone deal

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It was announced late last week that Jaguar Land Rover is closing on a deal to buy a 249-year lease on the Silverstone circuit after members of the British Racing Drivers’ Club voted to press ahead with exclusive negotiations.

The deal would offer the lease on the circuit for £33 million while the BRDC would still own the company that runs the British Grand Prix. As a result of the Thursday’s vote, a second offer from Ginetta owner Lawrence Tomlinson will not be considered until July at the earliest.

The first championship Formula One race took place at Silverstone in 1950 and the circuit currently has a deal to host the British Grand Prix until 2026.

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