Hyde Park, Johannesburg - Petrol heads from around the world can breathe a sigh of relief as Gauteng's iconic Kyalami race track has been sold to Porsche South Africa!
In an auction held by High Street Auctions at Summer Place in Hyde Park on Thursday, Porsche SA made the highest bid of R205 million. In fact, it was one of just two bids, despite the fact that High Street Auctions previously reported that it had received significant domestic and international interest from potential buyers.
Although racing still takes place at Kyalami on a regular basis, the 4.26km track is known to have been neglected in recent years.
While it's too early to say for certain what Porsche's exact plans for the circuit are, numerous sources report that Porsche plans to keep Kyalami operating as a race track.
High Street's 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."
Certainly no petrol head in the know could ever imagine a passionate racing driver such as Porsche SA's CEO Toby Venter flattening the track to build townhouses, as many had feared might happen had this valuable piece of Midrand real estate ended up in a bean-counter's hands.
Venter was later quoted as saying: ''For every motor enthusiast Kyalami means 'my home' and we're preserving it for racing''.
Kyalami truly is an iconic race track. The legendary dices that have taken place here throughout the years are too many to mention and in addition to regular national events, the circuit has played host to 21 Formula One races (the last taking place in 1993) and numerous World Superbike rounds.