BRDC offered business partnershipA business Partnership, this week submitted a joint venture proposal to the British Racing Driver's Club (BRDC), which owns Silverstone.
The proposal, if successful, would secure the future of Silverstone and the British Grand Prix
after 2009 when the present F1 contract ends, and would:
a) Allow the BRDC and the Partnership to form a joint venture company for the future development of Silverstone.
b) Ensure immediate funds are available for essential improvements to Silverstone and its facilities.
c) Provide the British Grand Prix with a new promoter, relieving the BRDC of the significantly increasing cost of underwriting the event.
d) Protect the future financial independence and member benefits of the BRDC.
The Partnership's principals Bill Archer and Mike Rockall said:
"In this time-critical situation, our JV proposal can achieve the core objectives of the BRDC; to retain the F1 Grand Prix long term, finance the necessary improvements to Silverstone, and ensure the continuation of the independence, finances and member benefits of the Club.
"We have submitted our proposal to the board of the BRDC and we look forward to discussing it with them after what we all expect will be a successful Grand Prix weekend at Silverstone.
"The UK is the world's premier nation in the world in the motor sport industry. Silverstone must be improved to the highest international standard to retain that pre-eminence. We are confident as experienced and successful businessmen, working in partnership with Bernie Ecclestone, F1 and the BRDC, we can open a new chapter in Silverstone's proud history."
New Century Media
