Rockingham will not hold any motorsport events after the end of the 2018 season, as it emerges that the venue will be used as a car storage site for de-fleet, refurbishment and storage services for the automotive industry.
It was already revealed earlier in the year that the British Touring Car Championship would not visit the Corby circuit in 2019, with the British GT Championship also dropping the venue from its calendar.
The future of the venue had been uncertain for several years, and the venue reportedly only returned to profit in 2018 before being sold to Rockingham Automotive LLP (RAL), a UK partnership backed by Jersey investors.
“The team at Rockingham have done a tremendous job running the circuit and the facility over the last five years,” said CEO Peter Hardman to the Northamptonshire Telegraph. “However, it has been reluctantly concluded that motorsport activities are unlikely to produce an economic return for the new owners when set against the acquisition cost of the land.
“All events to the end of 2018 will be run with the professionalism and enthusiasm that are the hallmark of Rockingham, but circuit activities will cease from the beginning of 2019.
“RAL is in discussion with the two local authorities, Corby Borough Council and East Northants District Council on the future development of Rockingham.”
The transformation from racing facility to automotive centre will see Rockingham become one of the largest automotive facilities in the UK.
Existing tenants and motorsport businesses operating at the circuit will be allowed to stay.
It is the second European speedway to be sold for operations in the automotive industry in as many years, a year after the EuroSpeedway Lausitz in Germany was sold to vehicle inspections company DEKRA, although racing has been able to continue at that circuit with the DTM.