ONE-TIME Hampshire-based Formula One driver Jonathan Palmer has vowed to develop motorsport in Britain after buying four of the most famous circuits in the sport.

Palmer has guaranteed the future of Brands Hatch, Cadwell Park, Oulton Park and Snetterton leaving the previous owners to concentrate on their commitment to Silverstone, home of the British Grand Prix.

The circuits were put up for sale by Brands Hatch Circuits Limited after its parent company, the Interpublic Group, ran into financial problems.

"The motorsport business has dominated my life and I am thrilled to have been successful in acquiring four of the most famous motor racing circuits in Britain," said Palmer, who formed a new company, MotorSport Vision, with two partners to buy the tracks for an undisclosed sum.

"We are totally committed to developing motorsport at the MotorSport Vision circuits and believe that through innovation and quality enhancement we can revitalise one of the UK's most exciting sports. The future of these historic venues is now assured."

Palmer's two partners are John Britten, who founded and developed the Morse computer group as well as being a sportscar racing team owner, and Peter Ogden, formerly managing director of Morgan Stanley.

It was Ogden who founded Computacenter in 1983.