Jaguar Land Rover (JLR) has announced that it has ended talks with the British Racing Drivers' Club (BRDC) regarding the sale of Silverstone.

JLR was one of the four bidders for the British Grand Prix venue, along with Jonathan Palmer's MotorSport Vision company, Lawrence Tomlinson’s LNT Group and another unnamed bidder thought to be a foreign group.

Earlier this year, there were reports of a £33m deal with JLR being blocked by Porsche, as the latter exercised a clause in its own existing contract with Silverstone, which states that competitors are not able to use the track for more than 45 days a year.

“Jaguar Land Rover has ended discussions with the British Racing Drivers' Club for the foreseeable future and is not proceeding with any plans to either lease or purchase Silverstone at this time,” reads a statement from the company, according to the BBC.

Despite sell-out crowds at the British GP in the wake of Lewis Hamilton’s success, mounting losses and a lack of capital reserves have pushed the BRDC to find a buyer for the Northamptonshire circuit.

President Derek Warwick previously said the Club would be keen to seal the deal by the end of October though he did admit “I would not want to put my neck on it”.

INTERVIEW: Fernando Alonso: Why F1 is no longer just for heroes

F1i Classic: Brazil 1991 - Senna's pain and glory

TECHNICAL ANALYSIS - Mexico

FEATURE: Foul Play or Foul Language

Scene at the 2016 Mexican Grand Prix

Keep up to date with all the F1 news via Facebook and Twitter

Julien Billiotte

Recent Posts

Leclerc confident Ferrari ‘has a shot’ at F1 Constructors’ title

Charles Leclerc believes that Ferrari has a genuine “shot” at beating rival McLaren to Formula…

20 mins ago

Komatsu: F1 teams united against Audi 2026 cost-cap offset

Haas team principal Ayao Komatsu has revealed that nine Formula 1 teams stand in opposition…

2 hours ago

Las Vegas GP: Hamilton leads Mercedes 1-2 in trouble-free FP1

Lewis Hamilton and George Russell led the field in a chilly but trouble-free first practice…

3 hours ago

2024 Las Vegas Grand Prix Free Practice 1 - Results

Full results from Free Practice 1 for the Las Vegas Grand Prix in the United…

3 hours ago

Aston Martin says performance shortfall led to Fallows exit

Aston Martin performance director Tom McCullough has shed some light on why the team’s former…

12 hours ago

FIA clamps down on plank loophole after Red Bull complaint

The FIA has issued a pivotal Technical Directive to F1 teams ahead of this weekend’s…

13 hours ago