BBC Radio Northampton reports that a property developer has lodged a takeover bid for Silverstone, home of the British Grand Prix.

Oliver Speight, who runs a company called Spectre - hopefully no relation to the SPecial Executive for Counter-intelligence, Terrorism, Revenge and Extortion run by Ernst Stavro Blofeld (right) in numerous James Bond novels - was involved in motorsport in the 1960s, and now wishes to purchase Silverstone, developing the track and surrounding land.

It's understood that Spectre has written to members of the British Racing Drivers' Club (BRDC), owners of Silverstone, making an offer of £56m.

According to BBC Radio Northampton, Spectre is offering an initial payment to the BRDC of £20m upon completion of the acquisition; a further £20m upon approval by the local planning authority of the intended development masterplan; additional payments of £20,000 (£10m approx total) to each full and life member of the BRDC.

Spectre is also offering an additional £6m extra for land in Silverstone village.

According to the report a financial partner is in place to secure funding, but the bid does not disclose the partner's name.

This is the latest episode in a saga that has been running almost as long as the James Bond films and novels and at times has seemed almost as preposterous.

In early 2006, another property developer, two-time British F3 Champion, Harry Stiller, put together his own plan for the redevelopment of the Northamptonshire track, including a theme park, claiming to have the support of Bernie Ecclestone. Stiller was opposed to (then) BRDC President Jackie Stewart's plans for the total redevelopment of Silverstone, which would have seen property development company St Modwen given a 150-year lease and the running of the Grand Prix handed over to its subsidiary, Northern Racing. This has culminated in the proposal of a vote of no-confidence in the BRDC board at the club's forthcoming Annual General Meeting on April 28.

The Stiller thing fizzled out and the Silverstone saga rumbled on, with Damon Hill taking over the reigns of the BRDC and Bernie Ecclestone seeking a deal whereby Britain and France share a round of the World Championship, hosting a Grand Prix in alternate years.

Editor's Note: Despite the obvious comparisons - such as a demand for global domination - as far as Pitpass is aware, Bernie Ecclestone (TM) and Ernst Stavro Blofeld are not the same person.

Then again…