Formula One news

Bid for Silverstone

A property developer has made a bid for Silverstone, BBC Radio Northampton reports. Spectre chairman Oliver Speight is said to have offered the British Racing Drivers' Club £56m for the Northamptonshire track.

Apparently Speight, who was involved in motorsport in the 1960s, would like to keep the track as the British Grand Prix but also develop the surrounding land.

The offer includes freehold of the BRDC's property and trading companies. Speight also wants allegedly to purchase land worth £6m in Silverstone village. Each life and full member of the BRDC would receive £20,000 if the deal went through.

The news comes after Minister of Sport Richard Caborn just recently gave his support of upgrades to be made to the Silverstone circuit and surrounding complex.

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