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.

Thanks to everyone who sent in the tips!

 

Be part of something big

Porsche buys the Kyalami race track in South Africa