MotorSport Vision (MSV) is a new company, led by former Formula 1 driver Jonathan Palmer, which has been established for the purposes of owning and developing the four circuits. The company will complement PalmerSport at Bedford Autodrome, which provides prestige motorsport events for the corporate market.
Jonathan Palmer and two partners, John Britten and Peter Ogden, will own and control MSV. John Britten founded and developed the Morse computer group as well as being a sportscar motor race team owner. Peter Ogden was formerly Managing Director of Morgan Stanley, and founded Computacenter in 1983.
Jonathan Palmer, Managing Director of MotorSport Vision, commented: "Race driving, commentary and the motorsport business have dominated my life and I am thrilled to have been successful in acquiring four of the most famous motor racing circuits in Britain. We are totally committed to developing motorsport at the MotorSport Vision circuits and believe that through innovation and quality enhancement we can revitalise one of the UK's most exciting sports.
"The future of these historic venues as motor racing circuits is now assured. Central to our plans is continued ownership of all four circuits and development of the motorsport business at each of them in accordance with their character and opportunities they present. In four years Bedford Autodrome has become the most successful corporate motorsport venue in the country, though it was never designed to hold motor racing events. The addition of these four major circuits provides a most valuable complementary portfolio of venues.
"There is clearly a great deal of work ahead and the challenge of successfully developing the new business is substantial. However I am very excited about the prospect of providing spectators with more entertaining motor racing and competitors with circuits that become even better to race at."
John Britten added: "As driver, sportscar garage owner, Le Mans team owner and enthusiast I too have been involved with motorsport all my life. When I drove my Morgans and MGs around these famous circuits all those years ago, I never dreamed that one day I would be a circuit owner. But that day has now arrived and I am so happy to be working towards a better future for British motorsport.
"In taking over the reins of the four circuits, we intend to build on the considerable effort and investment that Interpublic Group and their staff have put into British motor racing to further improve spectator facilities, entertainment and service for our competitors."
It is planned that MotorSport Vision will take control of the circuits from Monday 12 January.
