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Porsche buys Kyalami for R205m

Porsche SA has bought the Kyalami race track for R205m in an auction at Summer Place in Johannesburg - the highest price paid for a property in liquidation in South Africa.

25 Jul 2014

The legendary Kyalami 9-hour race that saw international and local competitors competing in days gone by. The track will maintain its racing status after Porsche SA bought it. Image: Cars in Action

The most successful property liquidation auction in the country before this deal was for a property in Knysna‚ which fetched R120m more than a decade ago.

Porsche SA said the track would be used for racing events‚ the details of which would be released at a later stage.

South African former racing driver and 1979 Formula One World Drivers' Champion‚ Jody Scheckter won the South African Grand Prix at Kyalami in 1975.

Sporting events have been hosted at the race track for 53 years‚ including Formula One‚ the Superbike World Championship and the A1 Grand Prix.

Source: I-Net Bridge

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