Silverstone to Have Arab Owners?

Silverstone ousted from the Formula One calendar doesn't seem like a done deal anymore. According to British newspaper Sunday Express, a group of Arab investors are presumably in advanced talks to take over the ownership of the Northamptonshire based track.

The aim of those negotiations seems to be the finalization of the upgrade process regarding Silverstone, in order for the venue to continue to host Formula One races or be ready to replace rivals Donington Park in the F1 schedule.

Silverstone lost the right to host the British Grand Prix from 2010 onwards, due to the poor upgrade of its facility in recent years. Also, it is believed Bernie Ecclestone's losing to Damon Hill in the British Racing Drivers Club's elections in 2006 - the very club that owns the British circuit - had a lot to do with Bernie's decision to take the British GP away from Northamptonshire.

However, according to these new reports, the Arab investors have allegedly sent a letter to the BRDC board of directors, asking them to accept the deal as a plan to make Silverstone "capable of hosting grands prix should the opportunity arise." Consequently, they asked the directors to vote affirmatively for the deal on August 25th.

Asked to give more clarifications on the matter, BRDC president Damon Hill denied the reports. In his own words, he had "no idea of anybody who has been engaged in a deal" but did admit the club is currently looking for a powerful investor to help them bring Silverstone back to the highest of the FIA standards.