The British Racing Drivers’ Club (BRDC) has confirmed it has agreed a deal to lease the land around the Silverstone circuit to British developer MEPC. The 999-year lease does not include the circuit, which will remain under BRDC control, but will provide much needed investment. The £32 million deal will allow the BRDC to "pay off its long and short-term loans from Lloyds Banking Group and Northamptonshire County Council," confirmed a statement. It will also see MEPC developing the land to finally realise Silverstone's long-term plan to include hotels, schools, housing and entertainment venues. Stuart Rolt, Chairman of the British Racing Drivers’ Club, said:...
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