Octagon rubbishes Brands sell-off reports

Octagon Motorsports, the company that owns the famous Brands Hatch circuit, has denied reports that it is planning to sell the Kent circuit for redevelopment as a housing estate

Octagon rubbishes Brands sell-off reports

Stories that the circuit is to be sold have been circulating since Octagon announced losses of £37.5m from the first nine months of this year. Octagon's US parent, Interpublic group, has been pressuring the company to convert some of its assests into cash.

But the company denies that it had planned to sell the circuit. Ruth Wicks of Octagon told Autosport.com: "[Brands Hatch] is built on green-belt area, I don't think we'd be given permission to dig up the site if we planned to. There's no truth to it."

In 1999, Octagon won the right to hold the British Grand Prix, and had planned to redevelop Brands Hatch in order to host the event. The plans were blocked by environmental campaigners, who would likely raise similar objections should the circuit be sold for housing. Octagon eventually reached an agreement to run the British Grand Prix at Silverstone, although the cost of staging the race has been a major reason for the company's losses.

Octagon also own the Snetterton, Oulton Park and Cadwell circuits. The company has confirmed that it had considered selling two of these circuits off in order to raise capital. "We did look earlier this year at the possibility of doing something with two of the circuits, Snetterton and one of the others," Ruth Wicks told The Guardian, "but we decided not to progress it."

shares
comments
British team in ambitious US plan

Previous article

British team in ambitious US plan

Next article

WRC - Gronholm strolls to the title

WRC - Gronholm strolls to the title
Load comments
The one-time Schumacher rival rebooting his career Down Under Plus

The one-time Schumacher rival rebooting his career Down Under

Joey Mawson made waves in the middle of the last decade, beating future Haas Formula 1 driver Mick Schumacher - among other highly-rated talents - to the 2016 German F4 title. A run in F1's feeder GP3 category only caused his career to stall, but now back in Australia Mawson's S5000 title success has set that to rights

General
May 8, 2021
The lesson football’s would-be wreckers could learn from racing Plus

The lesson football’s would-be wreckers could learn from racing

OPINION: The greed-driven push for a European Super League that threatened to tear football apart is collapsing at the seams. Motor racing's equivalent, the football-themed Superleague Formula series of 2008-11, was everything that the proposed ESL never could be

General
Apr 21, 2021
The F1 and Indy 'nearly man' that found contentment in Japan Plus

The F1 and Indy 'nearly man' that found contentment in Japan

Having had the door to F1 slammed in his face and come within three laps of winning the Indianapolis 500, the collapse of a Peugeot LMP1 shot meant Japan was Bertrand Baguette's last chance of a career. But it's one which he has grasped with both hands

General
Feb 27, 2021
The female all-rounder who arrived "too early" Plus

The female all-rounder who arrived "too early"

From Formula 3 to truck racing, Dakar and EuroNASCAR via a winning stint in the DTM, there's not much Ellen Lohr hasn't seen in a stellar racing career that highlights the merit in being a generalist. But she believes her career came too early...

General
Feb 17, 2021
How Radical's latest machines fare on track Plus

How Radical's latest machines fare on track

The lightweight sportscar manufacturer has not rewritten the rulebook with its latest machines, but the new SR3 XX and SR10 still provide a step forward on its previous successful models

General
Feb 8, 2021
The real-life racing rogues stranger than fiction Plus

The real-life racing rogues stranger than fiction

The forthcoming Netflix film linking the world of underworld crime and motorsport plays on a theme that isn't exactly new. Over the years, several shady figures have attempted to make it in racing before their dubious dealings caught up with them

General
Jan 31, 2021
How a GP is thriving in a COVID-free territory Plus

How a GP is thriving in a COVID-free territory

The New Zealand Grand Prix's mix of rising talent and big-name stars thrilled the crowds (yes, remember crowds?) assembled for the Toyota Racing Series meeting at Hampton Downs last weekend and left distant observers craving a repeat

General
Jan 26, 2021
How a much-changed Macau GP kept the party going Plus

How a much-changed Macau GP kept the party going

OPINION: The 67th edition of the Macau Grand Prix might have been a largely muted affair to the outside world without its international influx and star line-ups, another victim to the COVID-19 pandemic, but organisers deserve huge credit for keeping the party going

General
Nov 24, 2020