County racetrack Rockingham Speedway has been sold to Jersey-based investor Grey Rock.
Represented by Stuart Wright, a motorsport enthusiast and former endurance racing driver, Grey Rock has purchased the Corby track as part of the acquisition of the Priors Hall development from its previous owners, securing the future of both businesses.
Previous owner Alfred Buller will retain an interest in Rockingham.
Rockingham’s core business will continue to focus on the circuit’s role as an experiential and research and development centre for the automotive industry supported by track days, motor racing and testing.
Mr Wright said: “I’m delighted to be involved in Rockingham. There is a great team in place who have shown tremendous commitment to the track and I look forward to helping them to develop Rockingham as one of the UK’s leading automotive race and test centres.”
Rockingham chief executive Charlotte Orton said: “This is an extremely positive development and is vital for the sustainable future of Rockingham. This new investment will provide the circuit with the opportunity to continue to grow and reach its full potential.
“There have been a number of changes since I joined Rockingham 10 years ago, and it is fair to say it has been difficult at times, however this investment rewards the great team spirit we have at Rockingham and all the hard work which goes on behind the scenes.
“Rockingham changed its core business focus in 2006, and as a result has transformed from being more than just a motor racing circuit to one of the UK’s leading automotive and testing venue, which has made profit year on year.”