Silverstone for Sale?

ParkLife · 6 Mar 2003, 09:06 (Ref:526405)

F1 racing are reporting that Silverstone could be up for sale.

I'll put 10 quid on Bernie buying it.

av8rirl · 6 Mar 2003, 09:46 (Ref:526422)

I've told him loads of times, I'm not selling.

**Stephen Green** · 6 Mar 2003, 10:39 (Ref:526459)

Why would the BRDC want to sell Silverstone after all the work Octagon have done on it for them?

Dave Brand · 6 Mar 2003, 14:48 (Ref:526635)

Quote:

Originally posted by Stephen Green
Why would the BRDC want to sell Silverstone after all the work Octagon have done on it for them?

Maybe somebody wants to build houses on it!

**Stephen Green** · 6 Mar 2003, 14:53 (Ref:526642)

Well you never know your luck Dave

**Asp** · 6 Mar 2003, 18:32 (Ref:526870)

Bit of dèj�*-vu here. These rumours circulate with alarming frequency. Eventually one might become true, but a lot haven't!

MiniMe · 7 Mar 2003, 05:51 (Ref:527395)

Brands, Donnington and the others that were sold last year, were sold at the right time - isn't the company that bought them going down the gurgler?

From what I can gather Bernie isn't very impressed with Silverstone at all and has made a lot of noise in recent years about taking the F1 away from them. I doubt he's even thinking about buying into it, sorry to disagree

**Stephen Green** · 7 Mar 2003, 07:58 (Ref:527460)

And just when did Octagon sell Brands Hatch? Donington is owned by Tom Wheatcroft I believe and Octagon have never had any involvement there.

MiniMe · 7 Mar 2003, 10:21 (Ref:527554)

Didn't the woman who owned the four circuits, Brand, Donington and the other two, sell them last year - for, from memory, 120 million quid? TO Octagon?!

av8rirl · 7 Mar 2003, 10:27 (Ref:527561)

For a start Tom Wheatcroft still owns Donington. I'm pretty sure that Brands has not been sold in the past year.

MiniMe · 7 Mar 2003, 10:43 (Ref:527573)

Ok Nicola Foulston sold Brands to Octagon in 1995 (keeping a 10% share) and stayed on as CEO until she resigned in 2000 after selling Brands Hatch, Oulton Park and Snetterton (and I guess Cadwell Park too - she owned that as well) to Octagon Motorsport for USD $195m.

**Stephen Green** · 7 Mar 2003, 11:04 (Ref:527597)

When Nicola Foulston sold Brands Hatch Leisure, it included all the circuits owned by BHL. That's Brands Hatch, Oulton Park, Snetterton and Cadwell Park. All circuits were sold to Octagon at the same time, being that they were all in the Brands Hatch Leisure Group.

**Stephen Green** · 7 Mar 2003, 11:06 (Ref:527603)

Since then Octagon have leased Silverstone from the BRDC who still own the circuit.

MiniMe · 7 Mar 2003, 11:45 (Ref:527640)

I'm sure that I read last year that Octagon were in trouble. That's interesting then that Octagon have control of Silverstone - when Nicola sold Brands she was in deep negotiations with Bernie about the F1 being held at Brands - even announced that it would be held there in '04 - but apparently reversed that decision because of the costs in upgrading Brands.

I was Nicola's PR man in '92 and I'm not surprised that she took the $195million, she likes to play rich.

Stephen, you must be close to the circuit at Kent? We always had a headache with the neighbours complaining about the noise on race day - the circuit is practically in people's backyards there!

I'd love to see Brands upgraded and host the race again - that amphitheatre is great for the crowds and the wooded section reminds me of the old Spa.

Bernie doesn't like the old guard at BRDC - too stuffy for him

**Stephen Green** · 7 Mar 2003, 12:22 (Ref:527678)

You are correct in the sense that it was Nicola who negotiated the return of the GP to Brands Hatch. Following that Octagon bought the business from Nicola and then of course there was all the problems with the Labour government over the planning permission. Having ordered a public enquiry into the planning consent, Octagon weren't left many options other than to lease Silverstone from the BRDC in order that they had a world class circuit on which to hold the race, the only other option being to lease Donington. Ther has been talk of Nicola coming back to run Brands Hatch but I stress pure rumours at the moment.

I live about 15 minutes drive from Brands, close to Tunbridge Wells and like you would love to see the GP back there. Still, you will have to come and see the Indy c ars there in May!

MiniMe · 7 Mar 2003, 12:46 (Ref:527699)

LOL I'd love to see open wheelers there, and I'm sure those drivers will love it too. I have the Indy Cars about an hours drive south of me on the Gold Coast - maybe we can do an accomodation swap when you come here? LOL

**Stephen Green** · 7 Mar 2003, 13:57 (Ref:527762)

Now that sounds a WONDERFUL idea

josvandeperre · 7 Mar 2003, 15:10 (Ref:527835)

Brands Hatch goes 'up for sale'
Jim Armitage, Evening Standard
7 March 2003

BRANDS HATCH owner Octagon Motor Sports was today effectively put up for sale by its parent company after the racing circuits' operator suffered massive losses.

Interpublic, the second largest advertising group in the world, bought what was then called Brands Hatch Leisure for £120m in 1999 to complement its business managing sports people including Anna Kournikova. But the business failed consistently to perform, and today Interpublic wrote off $158m (£100m) of charges relating to the value of the Octagon assets. Its book value is now just $70m.

Advisers, thought to be Goldman Sachs, have now been recruited to evaluate 'exit strategies' from the division, Interpublic said.

**Stephen Green** · 7 Mar 2003, 15:14 (Ref:527839)

Jos, that reads that it is Octagon that is for sale rather than just Brands Hatch. I wonder if this lends any creedence to the earlier rumour that Bernie Ecclestone is buying Bands Hatch circuit?

**Asp** · 7 Mar 2003, 18:29 (Ref:527980)

I think it's clear that Octagon are in trouble, about 2 months ago they were going to selling all thier circuits, only for a month ago to announce mammoth redevelopment in most of them. I suppose that either selling off the circuits or the company itself is on the horizon - but I wouldn't read too much into this article as being 'the time'

MiniMe · 8 Mar 2003, 00:37 (Ref:528356)

I wouldn't be surprised if its Nicola who buys it back - at the written down value, of course!

Dave Brand · 8 Mar 2003, 09:34 (Ref:528662)

Quote:

Originally posted by Asp
about 2 months ago they were going to selling all thier circuits, only for a month ago to announce mammoth redevelopment in most of them.

The work at Oulton Park, & I assume the other circuits, was started a long time before the February announcement.

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