Jaguar Land Rover in negotiations to buy Silverstone

Jaguar Land Rover in negotiations to buy Silverstone

Jaguar Land Rover has reportedly made a bid for the home of British Motorsport, Silverstone, thought to be valued at almost £23 million.

The West Midlands car giant is in negotiations to secure the site with major plans on the horizon, including a five-star hotel, a Jaguar Land Rover heritage centre & motor industry museum.

According to the Coventry Telegraph, a source close to Jaguar Land Rover said: “They have been trying to buy Silverstone for a while now. Talks are still ongoing and the deal isn’t sealed yet.”

“They are interested in it for testing cars and the Motorsport side.”

Recent comments made by Silverstone’s managing director a few months ago suggested that the racing circuit was at risk without major investment on the race track. The news that Jaguar Land Rover are in a position to take over the site has been welcomed by automotive sector experts, claiming JLR could attract enthusiasts from around the world.

A spokesman for Jaguar Land Rover said: “Jaguar Land Rover continually looks to invest and grow its business operations in the UK. We constantly evaluate a wide range of opportunities which are confidential.