Yahoo Autos Porsche Reportedly Blocked Jaguar's Plans to Buy Silverstone Circuit
Jaguar and Porsche have been rivals at various points in both of their histories, but their rivalries generally play out on the race tack. Now, there's apparently a new spat between the two companies, but this time, it's over a track.
Jaguar Land Rover (JLR) has been trying to purchase the famous Silverstone Circuit at least since last December, but according to a recent Telegraph report, Porsche has blocked JLR's bid. Further complicating matters, Ginetta Cars owner Lawrence Tomlinson has put in his own bid to buy the financially-troubled circuit.
Currently, Silverstone is owned by the British Racing Drivers Club (BRDC), which has been in talks with JLR for many months over the circuit's sale. JLR wants to turn it into the company's spiritual headquarters with a hotel, museum, office space, and customer track experience program. Porsche, however, operates an Experience Center at Silverstone and it has an agreement with the BRDC that no other manufacture can use the circuit for over 45 days per year.
JLR assumed that it could work things out with Porsche once its £33 million ($43 million USD) offer was accepted, but an anonymous BRDC official told the Telegraph that Porsche "would not be prepared to waive their rights."
Adding to JLR's troubles, the Telegraph reports that some BRDC members prefer Tomlinson's bid over fears that JLR's Indian owner Tata might exit the British steel industry. Tomlinson reportedly also offered more money for the circuit than JLR.
All in all, things don't look good for JLR's chances of buying Silverstone. Perhaps it should start looking at other tracks to call home.
