Property company Spectre made an offer to buy UK motor racing circuit Silverstone from the British Racing Drivers' Club, but was told the track is not for sale.
BRDC president Damon Hill said the BRDC was pressing ahead with its own development and plans to secure the British Grand Prix's future.
"We said 'Silverstone is not for sale, we're in the middle of a property development procedure which involves co-operation from government and all the local authorities that Silverstone affects and that is an ongoing process. We're not being diverted from that.”
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