The owner of Brands Hatch is reportedly planning a bid for British Grand Prix circuit Silverstone.

Jonathan Palmer, chief exectuive of Motorsport Vision (MSV), which owns the Kent track, said he is “definitely interested in making an offer” for the home of Formula One’s most prestigious event.

Silverstone is owned by the British Racing Driver’s Club (BRDC), which voted to sell its 249-year lease to Jaguar Land Rover in April, as it continues to turn around losses of £54.4 million made in 2012.

It is understood the deal has since stalled and Mr Palmer is ready to step in to the fold, despite MSV never having previously been given the opportunity to make a bid, according to the Daily Telegraph.

Mr Palmer told the newspaper: “The BRDC hasn’t approached me at all but I’ve told them that I certainly want the opportunity to be invited to put a deal forward.

“On a number of occasions I have said that MSV would be interested in running Silverstone.”

The British Grand Prix is F1’s best attended race, with 139,000 people watching Lewis Hamilton’s victory there last month.

MSV declined to comment further. BRDC has not responded to requests for comment.