Jaguar Land Rover is assessing a bid to purchase the home of Formula 1's British Grand Prix, Silverstone.
The Financial Times reports that the division of Tata asked property consultant Cushman & Wakefield to value the Northamptonshire site in July.
The race circuit would be accompanied by a new HQ for up to 1000 JLR staff - currently based in Coventry - a hotel and heritage and visitor centres.
The British Racing Drivers' Club owns the lease to Silvertstone, which was valued at £22.7m by Cushman & Wakefield, and its 850 members would need to approve any deal, if a formal bid is lodged.
Doubt was cast over Silverstone's future as the host of the British Grand Prix earlier this year, when it sought to defer its hosting-fee payment due to a lack of funds.
However, in October, the circuit's managing director Patrick Allen confirmed its contract would be honoured through to 2026.