Tata Motors making moves to buy Silverstone
Jaguar Land Rover could buy Silverstone circuit from the British Racing Drivers Club
Jaguar Land Rover, owned by Tata Motors, a subsidiary of the Indian conglomerate Tata Group, is taking serious steps to buy the Silverstone racing circuit in Northamptonshire.
According to reports, the current owners, the British Racing Drivers Club, held a vote at a board meeting last week to decide if further negotiations with Jaguar Land Rover should go ahead. Those in the know at BRDC claim that the vote was tight, but ‘yes’ votes outweighed the negatives.
The British Racing Driver’s Club bought the former bomber base in the 1970s and turned it into the world-renowned Silverstone racetrack that it is today. The track hosts some of the top motorsport events in the world, including Formula One and MotoGP.
Tata Motors purchased Jaguar Land Rover from Ford for £1.5bn in 2008. The West Midlands-based auto marque has since gone from strength to strength to become the UK’s biggest auto manufacturer; celebrating a record sales month in March this year, with figures suggesting that it sold a vehicle every two minutes.
Jaguar Land Rover wants to purchase Silverstone to create a high-end showroom for its ever-expanding luxury range and will consider the possibility of relocating from its current Coventry base. The auto manufacturer will also explore leisure venue opportunities, just like what is currently offered by the the track’s current owners.
A Spokesperson for Jaguar Land Rover said: “A JLR spokesman 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.”
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