BRDC confirms Silverstone bids
In a letter to its members, the British Racing Drivers' Club has confirmed that it is considering nine bids regarding the massive redevelopment plans for Silverstone.
The letter, from Stuart Rolt, Chairman, and Sir Jackie Stewart, President, is shown below:
"Dear Member,
Project Hill is proceeding well and we wanted to update you on the progress.
Over the last two weeks we have had a good response from developers wanting to put in bids. The revised deadline was 28th October and KPMG have now received nine firm bids.
The Board's Project Hill Committee will meet on Friday 4th November to review the position and decide on a short list of three or four developers who will be invited to make presentations to the Committee in the near future. The Committee will then report back to the Board, hopefully at its meeting in late November. This will enable the Board to decide which, if any, of the bids meets our financial criteria and the overall objectives of the Club.
If the Board decides that one or more of the bids satisfy our objectives, it will authorise the Project Hill team to move ahead and refine a proposal, which can subsequently be assessed by the Board for submission to members for consideration. In the meantime our focus is on getting a detailed understanding of who is offering the Club the best proposal. Every bid is different and we will have our work cut out in the next three weeks to sort out the most attractive proposals."