Motorsport circuit owner MotorSport Vision (MSV) has acquired Donington Park, one of the UK’s leading racetracks.

MSV, which is owned by former Formula One driver Jonathan Palmer and businessman Sir Peter Ogden, has purchased the track from Kevin Wheatcroft, its current owner and operator. MSV will lease the Donington Park Estate for an initial 21 years.

The acquisition of Donington Park adds to MSV’s portfolio of British racetracks, which already includes Brands Hatch, Oulton Park, Snetterton and Cadwell Park. The company also holds promotional rights for the British Superbike Championship and the British F3 Championship.

Wheatcroft has owned Donington Park since 2009, when he helped rescue the circuit following the collapse of leaseholder Donington Ventures Leisure Ltd.

Wheatcroft’s father, Tom, himself helped breathe new into life into the venue in 1971 after it had fallen into disrepair, with the circuit going on to stage regular rounds in the MotoGP motorcycling championship and hosting Formula One’s British Grand Prix in 1993.

The circuit currently stages events from the British Superbike Championship and British Touring Car Championship, as well as the only UK round of the Superbike World Championship.

“Like many circuits in the UK, Donington has had a turbulent time over the last 10 years, though thankfully Kevin Wheatcroft and his team have now recovered the damage done by the previous owner of the business,” Palmer said.

“Donington is a good British circuit that deserves further investment, energy and expertise in order to make it truly outstanding, and MSV will provide this. We plan a great new era for Donington, with some exciting new events and much enhanced quality of experience for all of its customers, whether spectators, competitors and track day participants, together with even better value."