The Interpublic Group, the parent company of Brands Hatch Circuits, has confirmed that Brands Hatch, Oulton Park, Snetterton and Cadwell Park are all to be sold at the year’s end.
In the face of major losses on its UK motorsport activities, on which it has spent over £100m since agreeing to buy Brands Hatch Leisure in 1999, the American company has decided to offload all four tracks. Interpublic vowed last December to solve its “motorsport problem” by the end of 2003. Despite a major reorganisation of its motorsport activities, it has now elected to sell the tracks.
Interpublic reports that it has already received interest from over 50 potential purchasers. Many, but not all of them, are from within the sport.
An internal communication to BHC staff confirmed that sale documents were being prepared and that the company’s preference would be to sell the circuits as a complete set, rather than individually.