View Single Post
Old 30 Sep 2015, 11:26 (Ref:3578259)   #25
Moneyseeker
Veteran
 
Join Date: Mar 2007
Posts: 2,169
Moneyseeker is going for a new lap record!Moneyseeker is going for a new lap record!Moneyseeker is going for a new lap record!Moneyseeker is going for a new lap record!Moneyseeker is going for a new lap record!Moneyseeker is going for a new lap record!
Quote:
Originally Posted by Mike Harte View Post
According to a report on the Autosport website, BCE has granted Silverstone more breathing space, and has agreed to wait for a further period to receive the sanctioning fee for this year's race. This will allow the GP to go ahead next.

However, in the article, he is quite scathing, again, about the BRDC and how they have wasted money, commenting that they spent £20 million on the new BDRC clubhouse and car park for the members. Although he says that the race will take place next year, he cannot guarantee that it will in the following years.
Yep, this was the money the BRDC got from Octagon for breaking their circuit lease agreement when they gave up the BGP rights. I believe that BE invested some money in the circuit towards the Dadford Road improvements and expected the BRDC to do the same only find that they had built themselves a clubhouse and private grandstand instead (allegedly) this is where a lot of the animosity BE has for the BRDC stems from and why he keeps raking it up.

To answer the point earlier about if the GP is the real problem at Silverstone. The root of the problems stem from the BRDC blowing the thick end of £30m on that (IMO) terrible Wing building - how can it have cost that much is beyond me- which is now marooned on the far side of the circuit as they couldn't afford to build a tunnel or bridge to get to it!

No doubt on a spreadsheet somewhere there are some extrapilations on how they would rent it out for x weeks a year at x to the corporates and event organisers.....and how many times has it been rented I wonder...?

Having sold off the commercial estate land and environs this has relieved the balance sheet of the Wing borrowing, but of course has slashed the circuit income. So a bit like an impoverished aristocrat who is slowly selling bits off to keep the roof on, the BRDC is running out of things to sell aside from the circuit operation, which is always going to be a tricky sell as the BGP contract is their biggest and increasing liability.

The local councils supported the circuit with loans to build the Wing, but I think government investment is very unlikely, the whole BE image and the fact that it is an elite 'sport' entered and supported by some of the world's biggest brands is probably not going to get a politician sticking their neck out for. I am sure JYS has already tapped on every relevant door.
Moneyseeker is online now  
Quote