Silverstone boss Patrick Allen has stepped aside from his position to be replaced by a permanent management team, the British Racing Drivers’ Club has announced.
Allen had been suspended since last month over the sale of the British Grand Prix home, following reports that he was “too close” to UK businessman and entrepreneur Lawrence Tomlinson, one of the bidders for the Northamptonshire venue.
Despite the British Grand Prix returning to profit for the first time in 10 years, the BRDC remains keen to sell the iconic track because of mounting losses and a lack of capital reserves.
“Patrick’s contract with the BRDC has always been on a consultancy basis, with the purpose of reinvigorating the customer proposition and establishing an effective long-term business strategy,” the Club said in a statement released on Tuesday.
“With these foundations now in place, permanency is required in Silverstone’s leadership to take that strategy forward.
“The BRDC Board fully acknowledges Patrick’s contribution to Silverstone Circuits Limited [SLC] and is pleased to have agreed terms to enable him to step aside and a new skilled team to continue to build on his success.”
Patrick Allen, who had taken over as Silverstone’s managing director in 2014, commented: “I have greatly enjoyed working at SCL. Some of you may have heard, or seen in the press, some rumours about my departure.
“It is true that some allegations were made against me but, for the avoidance of doubt, these have all been withdrawn and I am pleased to have concluded mutually agreeable terms with the BRDC.”
2016 Italian Grand Prix - Quotes of the week
DRIVER RATINGS - 2016 Italian Grand Prix
RACE REPORT: Rosberg wins at Monza to cut Hamilton gap to two points
COMMENT: McLaren's 2017 driver line-up: A stroke of genius?
Keep up to date with all the F1 news via Facebook and Twitter
Sergio Perez may be one of Cadillac's biggest assets behind the wheel, but the Mexican…
Fernando Alonso’s future in Formula 1 is still up in the air, but Jenson Button…
Formula 1's uncertain Middle East finale could have consequences that extend well beyond the race…
Luca Cordero di Montezemolo, perhaps the most emblematic figure in Ferrari's history aside from the…
Sunday at the Milwaukee Mile wasn’t just a race day – it was a full-blown…
Liam Lawson's surprise return to Red Bull may have looked remarkably comfortable from the outside,…