Silverstone bosses seek investment

Silverstone officials are now on the hunt for outside investment as they seek to take the Northamptonshire circuit to the next level.

Twelve months ago a track revamp was unveiled in the wake of taking on the British rounds of MotoGP and World Superbike Championship.
A year on and the Silverstone Wing, a 390m pit and paddock complex, takes centre stage for the British Grand Prix.
However, after spending a total of £40million on all redevelopment, that is as far as the British Racing Drivers' Club and Silverstone Circuits Limited are prepared to dig into their pockets.
To complete the remainder of their plans, which include the likes of a welcome centre, experience centre, heritage centre, and more crucially a hotel and pit straight grandstand complex, additional funds from other sources are required.
To that extent, talks have already been conducted with five leading international hotel chains, with more planned.
To assist in the process, outline planning permission has already been submitted to the local council for all potential developments, which are due to be ratified before the end of the month.
BRDC chairman Stuart Rolt said: "As a club we have done as much as we could be expected to do to retain the British Grand Prix, and in part to do that we had to create the new pit and paddock complex.
"Richard Phillips (Silverstone Circuits Managing Director) and his team put together a fantastic circuit, which was phase one, then the building, which was phase two.
"We think we've gone as far as we can with our own funding to put Silverstone where it is now.
"What are we doing now? We have gone to professional advisors, PWC, (PriceWaterhouseCoopers) and they are looking for investor partners to come in and share the vision, and maybe they will invest in all of it, parts of it.
"We think it is quite important a consortium comes in because if you have a number of investor partners then that makes life quite difficult from an infrastructure point of view.
"So we are looking for friendly, enthusiastic partners who have the vision to go forward with ourselves.
"We will then stand back and allow that partner to take control of its own investment decisions. We would not try to influence them in any way."
In accordance with contractual obligations with Bernie Ecclestone's Formula One Management, no partner could take up any naming rights of Silverstone.
Crucially for the circuit chiefs, Holt has emphasised motor sport must remain the track's core business.
"The one thing to emphasise is that Silverstone will remain a motor racing circuit at its heart," added Holt.
"There is a very firm legal document that states that, that all potential investors have seen, or will see.
"It states that what Silverstone does is provide motor racing at the top, top level.
"Anything else that comes along like hotels, educational facilities are very welcome, but nothing must get in the way of motor racing."