Motor Sport: Silverstone 'flattered' By Takeover Offer

Silverstone's owners yesterday denied that the home of the British grand prix is for sale and reiterated their own commitment to developing the racetrack to ensure that formula one continues in this country after the current contract expires in 2009.

Robert Brooks, the chairman of the British Racing Drivers Club, said he was "flattered" by the latest offer from Spectre Developments but insisted: "Silverstone is very definitely not for sale." He added: "We have our own masterplan in place for the development of the circuit for which all the relevant planning applications have been submitted to the appropriate authorities."

Spectre has outlined plans to develop Silverstone as a major motorsport resort destination and to give it the long-term financial stability to sustain its position as the organiser of Britain's most famous motor racing. The grand prix is under threat as Bernie Ecclestone, formula one's commercial rights holder, seeks new venues to increase the profile of the sport.

"Our offer would make the BRDC the richest club of its type in the world and reflects our passion for, and commitment to, the long-term future of Silverstone, as well as our affection for the BRDC," said Spectre's chairman, Oliver Speight. "The club's own presence at Silverstone would be preserved in perpetuity and its members' rights and interests fully protected."