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BTCC: BSCV8: Interpublic to focus on Silverstone
The Interpublic Group of Companies, Inc., 'Interpublic' announced today that it has agreed to sell four of the motorsport circuits owned by Brands Hatch Circuits Limited to MotorSport Vision Limited for an undisclosed sum. The sale includes Brands ...
Edited: Apr 10, 2006, 6:41 AM
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The Interpublic Group of Companies, Inc., 'Interpublic' announced today that it has agreed to sell four of the motorsport circuits owned by Brands Hatch Circuits Limited to MotorSport Vision Limited for an undisclosed sum. The sale includes Brands Hatch, Oulton Park, Cadwell Park and Snetterton.
As a result of the sale, Interpublic's interest in UK motorsport will now focus on the Silverstone circuit. Brands Hatch Circuits Limited will be re-named Silverstone Motorsport Limited. The deal does not affect its interests and commitments in relation to Silverstone including the remaining payments under an executory contract and an operating lease.
MotorSport Vision Limited is a new company led by Jonathan Palmer that has been established for the purposes of owning and developing the four circuits. The new company will complement Jonathan's existing PalmerSport activities based at Bedford Autodrome, which provides motorsport events for the corporate market.
Andrew Waller, managing director, Silverstone Motorsport Limited:
"We are delighted that Jonathan Palmer and his team are acquiring the four circuits and believe that our sale to his company will help to safeguard the future interests of UK motorsport."
Jonathan Palmer, managing director, MotorSport Vision:
"Race driving, commentary and motorsport business have dominated my life and I am thrilled to have been successful in acquiring four of the most famous motorsport circuits in Britain. We are absolutely committed to developing motor racing at the circuits and believe that through innovation and quality enhancement we can revitalise one of the UK's most exciting sports."
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