Porsche’s South African division purchased the Kyalami racetrack, which used to host Formula 1 Grand Prix.
The deal was made at an auction, conducted by The High Street Auction, for $19.5 million. This racetrack is located close to Johannesburg in South Africa. It used to host Formula 1 events; however, starting from 1993, the track failed to comply with FIA regulations. The 4.26-kilometre circuit sits on 72 hectares of land.
25 Grand Prix were held here. Alain Prost won the last F1 race run on this track in 1993. If it weren’t for Porsche, this circuit could have been purchased by property developers to erect residential or office buildings.
Porsche have not revealed the purpose of purchasing the racetrack but we might hear something new about the Kyalami circuit quite soon.
