Silverstone future in doubt as owners scramble to raise £13m

The owners of Northants motor racing circuit Silverstone are trying to secure £13m in funding to help rescue the struggling venue.

The British Racing Drivers’ Club, which ownes Silverstone, is struggling to pay the £17m a year it costs to host the British Grand Prix and has lost £51.3m since 2012. Next year will see the race track’s last Formula One meet.

The British Racing Drivers’ Club’s accountant, KPMG, has warned in its latest accounts, that unless £13m is found by September 2019, its ownership of Silverstone could be in doubt.

The accounts state: “The directors are confident that, based on the existence of valuable security in the form of the Silverstone circuit, agreement of an appropriate facility will be reached to allow the group to continue to meet its liabilities.”