The owner of Kent’s most prominent race circuit is no longer interested in buying Silverstone, the home of Formula 1’s British Grand Prix.

Former F1 driver Jonathan Palmer, who owns Brands Hatch, said the circuit is not part of his plans any more.

He first showed an interest in September, asking for the chance to make an offer for the track after sale talks between owner the British Racing Driver’s Club and Jaguar Land Rover reportedly stalled.

Earlier this month, Mr Palmer's business MotorSport Vision (MSV) revealed it would acquire the racing business of Donington Park on a 21-year lease.

He said his recent deal to take over Leicestershire track – home of the British leg of the World Superbike Championship – had no bearing on his decision to stop pursuing Silverstone.

He told Autosport: “We expressed an interest initially, but we are going to focus our operations on our existing businesses.

“This deal with Donington was not a deal instead of Silverstone, it was completely separate.

“But we have no plans to operate Silverstone any more.”

MSV also owns Oulton Park, Snetterton and Cadwell Park and expanded into Europe in 2015 when it bought a former military airbase in north-east France, which it is developing into a motorsport village.

MSV did not respond to requests for further comment.