Palmer group wins race for Brands Hatch
MotorSport Vision Ltd, a new UK company led by British former F1 driver Jonathan Palmer, has reached agreement to buy the four circuits of Brands Hatch, Cadwell Park, Oulton Park and Snetterton from US group Interpublic, for an undisclosed sum. Interpublic's interest in British motorsport will now focus on its Silverstone projects. Its motorsport division, Brands Hatch Circuits Ltd (formerly Octagon Motorsport), will be renamed Silverstone Motorsport Ltd
BHCL says that the deal does not affect its interests and commitments in relation to Silverstone, including the remaining payments under its executory contract and its operating lease.
"We are delighted that Jonathan Palmer and his team are acquiring the four circuits and believe that our sale to his company will help to safeguard the future interests of UK motorsport," said BHCL MD Andrew Waller.
"Race driving, commentary and motorsport business have dominated my life and I'm thrilled to have been successful in acquiring four of the most famous circuits in Britain," said Palmer. "We're absolutely committed to developing motor racing at the circuits and believe that, through innovation and quality enhancement, we can revitalise one of the UK's most exciting sports."
The new company will complement Palmer's existing PalmerSport activities, based at Bedford Autodrome, which provide motorsport events for the corporate market.
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