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According to Sky News, private equity firm LDC is set to invest heavily on backing a management buyout of Silverstone circuit. The news comes just a week after it was claimed that the British Racing Drivers’ club sold the Northamptonshire Venue.
“People familiar with the Silverstone transaction said on Tuesday that it would be structured as two separate agreements with the present owner, the BRDC,” Sky News said.
LDC, backed by Lloyds, is believed to be close to buying the Silverstone Circuit, as the operator and promoter of all events that take place at the circuit which includes the British Grand Prix.
“LDC will invest millions of pounds in backing a management buyout of Silverstone Circuits, the entity which promotes and hosts the British Grand Prix, while MEPC, a property group owned by the BT pension fund, will acquire the development land around the site,” the report added.
This is the second time the circuit is grabbing headlines as earlier it was reported that the officials signed a “long-term lease” to a real estate firm MEPC for about £40million.
