More than 40 from the 120-strong work force at Brands Hatch have been made redundant as Motorsport Vision started restructuring the business.

The company,  headed by Jonathan Palmer bought Brands together with Cadwell Park, Snetterton and Oulton Park, last month

Palmer: “The key issue with Brands Hatch is that is has not been making money recently. The group [prior to the sale] had been losing £3m a year for the last couple of years, and it has also lost Silverstone.

“The Brands Hatch head count was also servicing Silverstone as part of the group – that is not now part of the group, and those extra staff have only now been reduced.”

“What we are doing is taking the prudent steps that any sensible person would to ensure the future success of Brands Hatch as a venue.

“It cannot continue as a successful venue if it keeps losing money. I am absolutely committed to a successful motor racing future at Brands Hatch, but in order to achieve it, it is essential we have a workforce that is appropriate for the level of business.”