Jaguar Land Rover Could Buy Silverstone Race Track
Imagine being an Automaker with a site like Silverstone as the heart of your whole operation. You would have plenty of space for offices and development of new vehicles. It seems like the most beneficial part of the whole concept is having an on-site track at your disposal. Well that could be in Jaguar Land Rover’s future, as the company is currently deciding whether or not to place a bid on the British race track.
Apparently, JLR has put some work into considering the bid, as it has been reported that the company would develop offices for 1,000 staff, along with facilities for 700 engineers. Outside of that, Silverstone would also become the home of JLR’s experience center, a heritage center, a museum, and even a hotel.
A recent report from Financial Times has said that property consultants Cushman and Wakefield have been tapped by JLR to assess the property and provide the realistic financial valuation for the track. According to the report, JLR may invest up to 52 million pounds – nearly $78.5 million. Assumingly, that includes the initial bid of 22.7 million pounds (about $34 million) that JLR may place in the near future.
So far, JLR has declined to offer any specific statement, only that the company is evaluating a wide range of opportunities. If JLR does follow through with placing a bid and happens to acquire the property, the site would still be operated as a race track by its current operator – The British Racing Drivers’ Club. According to Silverstone, it has not received a formal offer at this time.
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Why it matters
This would be a huge step for JLR, but it is right in line with its current expansion. Just last year JLR opened a new factory in China, and will soon start production at a Brazil-based plant. I think the best part is that, if JLR acquires Silverstone, it will still have Formula One racing at the track. JLR taking over Silverstone seems like a win-win to me. Not only will JLR have a track at its disposal, but the whole property will also benefit from the investment. Imagine just how nice it would be to report to work and have a nice view of that track from your office window. It might make working in the off hours not so bad with cars zipping past your window at 100-plus mph.
Source: Automotive News