Silverstone's owners, The British Racing Drivers' Club, will reportedly ask members to vote out their right to veto any developments.
Owners feel right is preventing new investment
Silverstone's owners, The British Racing Drivers' Club, will ask members to vote out their right to veto any developments at the circuit, according to a report.
Currently the membership, which totals around 800, are able to block any developments at the Northamptonshire venue and also prevent any loans being secured against the circuit.
BRDC Chairman Stuart Rolt feels that these powers are proving prohibitive in the circuit's attempts to draw new investment by leasing the circuit on a 150-year deal to a private investor.
"I think initially some members will find this difficult to take on board," Rolt told
The Daily Telegraph.
"But there comes a moment when we have to be prepared to say somebody else is going to have the responsibility for Silverstone and we cannot be forever responsible for every aspect of the circuit. This is progress.
"All we are asking from members is to lift this power of veto which has been there since 2009 and which all investors we have spoken to have said they cannot live with.
"We respect that to some members it will come as a surprise but they need to understand where the board is coming from and the reality of seeking investment in the current economic climate.
"We cannot be prescriptive about what an investor might want to do so long as they retain motor racing at the heart of their plans."
