Nov18

Brands tracks sell-off imminent

Formula 3 cars at Druids Bend

Formula 3 cars at Brands Hatch

Picture: ITR

Four of the UK's top motor racing circuits are set to be sold off by the end of this year by the ailing Interpublic Group.

The Brands Hatch Group - comprising the Kentish circuit plus Cadwell Park, Oulton Park and Snetterton - was put on the market in July, with around 70 bidders coming forward.

Estate management company Jones Lang LaSalle was commissioned to find a buyer and whittled the bidders down to a shortlist of five after a lengthy elimination process earlier this month.

All five contenders have made binding offers for the circuits. At least three of those bidding are known to be involved in motorsport and are thought likely to keep all four circuits as a going concern.

They include former British Touring Car Champion Robb Gravett, ex-March, Zakspeed and Tyrrell Formula One driver Jonathan Palmer and BTCC team owner John Batchelor.

Estimates for the size of the bids range from £10 million to £70 million, although it is thought more likely that the top bid is £30 million.

A spokesperson for Jones Lang LaSalle confirmed that details of the winning bid were unlikely to be revealed before the end of the year.


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