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Former F1 driver races away with Brands Hatch

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Four of Britain’s motorsport circuits have been sold by US media group, Interpublic, for a rumoured £30-40m to a consortium led by the former Grand Prix driver Jonathan Palmer.

The four circuits – Brands Hatch, Oulton Park, Cadwell Park and Snetterton – were put up for sale by Brands Hatch Circuits after parent company Interpublic encountered financial difficulties.

The purchasing consortium, MotorSport Vision, is a new company established by Palmer for the primary purpose of owning and developing the four circuits.

It is expected to complement Palmer’s existing PalmerSport activities, which are based at Bedford Autodrome and provide motorsport events for the corporate market.

Managing director, Jonathan Palmer, said: “Race driving, commentary and the 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.”

Interpublic’s Andrew Waller said: “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.”

As a result of the sale, announced on 5 January, Interpublic will now focus on its commitment to the Silverstone circuit, where the British Grand Prix is held.

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Four of Britain’s motorsport circuits have been sold by US media group, Interpublic, for a rumoured £30-40m to a consortium led by the former Grand Prix driver Jonathan Palmer.
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