The Shahin family is apparently again back in the market to buy the Phillip Island Circuit, after moves to shift the famous race track last year failed to materialise.
The Shahin family’s Peregrine Corporation already owns Shell V-Power Motorsport Park (aka The Bend) and Mallala Motor Sport Park.
It is believed that Linfox Property Group has been reviewing its ownership of the track since the Victorian State Government announced its intention to build a new international motor racing circuit via a Public-Private Partnership (PPP) on Linfox owned land at Avalon.
Linfox is believed to be one part of the PPP and would need to stump up considerable cash to the make the deal happen.
Whether the resurgence of rumours of a sale to Peregrine indicate any further progress on Avalon is not clear, but with the Victorian government desperately short of cash at the moment it seems unlikely the track is anything more than a dream.
Regardless, since the seed was planted the Shahins are believed to have been working on how to make it happen and have now walked back to the table.
Linfox bought Phillip Island in 2004 and immediately flagged its intention to build an 18-hole Greg Norman designed golf course and a five-star hotel, but all its plans to do have been scuppered by authorities.
Sam Shahin declined to comment when approached by Auto Action.
Image: Australian Grand PrixJosh Chadwick/Getty Images
