A private equity firm is in “advanced negotiations” to buy a stake in Silverstone, it has been reported.
A deal with LDC, owned by the Lloyds Banking Group, could be announced within weeks, Sky News has said.
Sky reports that the multi-million pound deal will be two-pronged. LDC will fund a buyout of the management of Silverstone Circuits, while MEPC, a property group owned by the BT pension fund, will take control of development land.
Silverstone secured a 17-year contract to host the British Grand Prix in 2009, and submitted plans for its redevelopment masterplan in 2011.
Last week, the Chron reported that the owners of the Northamptonshire circuit had denied the track has been sold, but said discussions with potential investors were ongoing.
Reports in national media the previous weekend claimed a deal had been agreed for the race track to be sold to a real estate firm.
However, sources close to the owners of the track, British Racing Drivers’ Club (BRDC), have denied a sale has been agreed.
The BRDC remains keen to bring in investors, however, with the prospect of a lease of at least 100 years being signed over to a preferred “third party investor”.
A spokesman said: “They are in discussions with third parties and talks are continuing to progress. As and when anything is done, we will make an announcement.”
“They have been looking for third party investors for some time and that process is still ongoing.”