AFTER months of rumour and worry Manchester's motorsport fans have much to celebrate with the news that Oulton Park has been bought by former F1 racer Jonathon Palmer.
The Cheshire circuit has been hosting international motorsport events since 1953 and while it has been decades since the Park echoed to the sound of Formula One engines, stars such as David Coulthard, Rubens Barrichello and Jenson Button all cut their teeth there.
Oulton Park's future came under threat 12 months ago when current owners Interpublic put the circuit up for sale, along with Brands Hatch, Cadwell Park and Snetterton.
Palmer, who started 83 grands prix in his seven-year F1 career, has acquired the other three circuits as well, and fully intends to continue racing activites at all the tracks.
"Motorsport has dominated my life and I am thrilled to have been successful in acquiring one of the most famous motorsport circuits in Britain," said Palmer. "We are absolutely committed to developing motor racing at the circuit."
British Touring Car racer Michael Bentwood from Hale said: "I'm very pleased, it's great news. After all the hard work last year that the staff put in it would have been a real shame to lose the track. Palmer has proved that he can operate in this business successfully and I think he's the right man for the job."
Have your say on Jonathon Palmer, the new owner of Oulton Park.
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Luke Jameson, MCR (13/01/2004 at 12:06)
The circuits used to be owned by the Octagon Media group who kept changing their name.
Octatgon Motorsports - Brands Hatch circuits - Interpublic.
I think they only bought Brands Hatch Leisure in the first place so they could get the TV rights to British Motorsports series'.
They've hung on to the rights to promote the British F1 gp at Silverstone.
They also managed to get their hands on the British Superbike series and it promptly ended up live on Sky rather than the BBC.
They've made a huge financial mess of the situation with investment into British motorsports circuits and then promptly done a runner.
Bloody Yanks and their Venture Capitol.
The Sky coverage is rather good though, but Chrysylis probably film it for a fee and Ocatagon cream off the money from the rights.