Octagon Motorsport's parent company Interpublic Group has decided it doesn't want to be involved in venue-based ownership and has put Brands Hatch and three other UK circuits up for sale, as well as the rights to the British Grand Prix at Silverstone (page 4).
Bernie Ecclestone, the Formula 1 promoter and well-known Silverstone adversary may be a favourite to rescue the British Grand Prix by buying its 15-year lease of the circuit. But it's doubtful he has much interest in Brands Hatch and the other venues, Snetterton, Oulton Park and Cadwell Park. Individual investors may decide their future.
Sporting hospitality packages are firmly established as an effective way to build and cement client relationships and they form one of the focuses of Event's new Event Solutions section that starts on page 27.
Hospitality at big motorsport events and corporate track-days is core business for a number of agencies. They must now wait to see if Octagon can fulfil its promise made at the start of the year and reiterated recently to invest £7.5m in upgrading facilities, despite the cloud of uncertainty that hangs over the venues.
Companies and organisations looking for more unusual settings and services for corporate functions should check out our new regular What's Hot feature, which opens the bi-monthly Event Solutions section.
Readers should also note that Star Trek The Adventure in London's Hyde Park remains open until 18 May. Credit worries about the sci-fi exhibition (page 4) shouldn't mask the fact that the venue offers a high quality corporate event package - until such time as contractors carry out their threat to remove their work from the exhibition if they are not paid.