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Jaguar Land Rover may buy Silverstone racetrack for new HQ

Jaguar Land Rover might add another chapter to its venerable motorsports legacy by purchasing the revered UK racetrack Silverstone to use as its new company headquarters. JLR could reportedly offer 22.7 million pounds ($34.1 million at current rates) to buy the circuit, according to Automotive News Europe, which cites several British media sources. The British automaker would then invest the equivalent of $78 million to turn the historic track into a celebration of the brand, including a museum, experience center, and hotel. The company would also construct space for its marketing team and engineers, Automotive News Europe reports. Motorsports would still continue there, too, which means the course's Formula One legacy is safe. Neither JLR nor the British Racing Drivers' Club, which leases the track, have confirmed the rumors. The BRDC only suggested that it received several confidential offers to purchase the circuit. Silverstone has a motorsports history that goes back to the late 1940s and is often the home to the Formula One British Grand Prix. The track's organizers have a long-term deal to continue hosting the F1 race, too. Today, the course also features major events from MotoGP and the FIA World Endurance Championship. In November, Jaguar released a video that celebrated some of its legacy at Silverstone by bringing the modern XJR and Le Mans-winning XJ-R9 LM at the track. If the company's purchase happens, you can expect to see a lot more Jags and probably some Land Rovers lapping the course. Related Video:

Win an SUV 2022 | The best giveaways of the week

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. SUVs and crossovers are a hugely popular segment in the United States, making up nearly half of total vehicles sold last year. Here are our favorite SUV giveaways we’ve found online this week. Win a Himalaya Land Rover Defender 110 Crew Cab - Enter at Omaze The Land Rover Defender is an icon. An intense, luxurious off-roader that turns heads and can crawl up nearly anything. The problem? For the past 20+ years it hasn't been available in the United States. But this Defender is different. ItÂ’s vintage, restored by Himalaya, and itÂ’s powered by a Corvette engine. Plus Omaze is giving it away.  Here are the specs of the Defender in question, according to Omaze: Maximum Seating: 4 Engine: 6.2-liter Corvette LS3 crate engine Transmission: 6-speed automatic  Drivetrain: 4WD  Exterior Color: Satin Grey Interior Color: Jet Black Maximum Horsepower: 430 hp Maximum Torque: 425 lb-ft Approximate Retail Value: $210,000  Cash Alt: $157,500  Special Features: Black exterior roll bars and trim; Black 18” Sawtooth wheels with 35” tires; Wilwood™ brakes; 3" lift; Black diamond-stitched leather sport seats; MOMO Millenium steering wheel; front and rear matching consoles; Himalaya gauge cluster; Himalaya front and rear bumpers, bed-mounted tire carrier, and extended fender flares; Puma hood; LED lighting YouÂ’re probably asking yourself, what does it take to win? First of all, according to Omaze, "no donation or payment is necessary to enter or win this sweepstakes." $10 will get you 100 entries in this sweepstakes, while $50 will get you 1,000 entries and $100 will get you 2,000 entries. The best part? Each paid entry raises money for a worthy cause. See more about these causes at Omaze. Other Omaze sweepstakes: Win an Airstream Interstate 24X Win a 1958 Porsche 356 A - Enter at Omaze Win a Restored 1969 Pontiac GTO - Enter at Omaze Win a 2022 Porsche 911 GT3 - Enter at Omaze For these and more vehicle sweepstakes, check out Omaze.com. Enter quickly, they won't last forever. Bentley Chevrolet Ford Land Rover Commerce SUV

Jaguar Land Rover won't get a bailout from the UK

Bailout talks between Jaguar Land Rover and Tata Steel with the UK government have ended, leaving both firms to rely on private financing to overcome the impact of coronavirus on business, the Financial Times reported on Friday. The report said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support. It is the luxury car unit of India's Tata Motors and Tata Steel, both owned by Indian conglomerate Tata Group. The bailout plan, titled "Project Birch", had been authorized by Finance Minister Rishi Sunak in May to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a "last resort" basis after other options run out. The report, citing a source familiar with the matter, said that the funding scheme became infeasible for Tata as it imposed strict conditions on any lending. "Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement. The UK Treasury said it would not comment on individual companies. Tata Motors did not immediately respond to request for comment. Related Video: Earnings/Financials Government/Legal Jaguar Land Rover