Porsche South Africa has purchased the Kyalami race track at auction for $19.4 (€14.4 / £11.4) million.

Porsche South Africa has purchased the Kyalami race track at auction for $19.4 (€14.4 / £11.4) million.

Despite speculation that the track - which hosted a number of Formula One races between 1967 and 1993. - would be a hot commodity, the bidding was fairly subdued and only lasted for a few of minutes.

The local community seems to be embracing the news as many were worried thatthe track would be bought by a developer who would demolish it and build a high-rise or townhouses.

Porsche's plan for the track remains a mystery but High Street Auctions' Lance Chalwin-Milton said "They are going to keep it as a track. I believe they may develop around the track, which will enhance the value for the lot." This could suggest they will turn it into a Porsche Experience Center but nothing is official as of yet.

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