Silverstone MD Richard Phillips and two other senior executives have been suspended.
A Silverstone statement states that Phillips will receive full pay during an internal investigation, along with financial director Ed Brookes and legal director David Thompson.
The track is managed by Silverstone Circuits Limited (SCL), a company owned by the British Racing Drivers’ Club. British Racing Drivers’ Club chairman John Grant and director Lawrence Tomlinson have now taken up the position of joint-acting chief executive of SCL.
The BRDC say the move is unrelated to a managerial restructure which it was in the process of introducing in order to boost profitability. The track got out of hosting MotoGP’s British Grand Prix in September when Phillips stated it was unprofitable.
Competition from the Circuit of Wales is on the horizon and, although Silverstone has paid back its bank loans, it is said to remain unprofitable. Circuit of Wales has agreed a five-year contract with the option for further five year extension with the MotoGP Championship’s commercial rights holders, Dorna Sports S.L. Earlier this year Silverstone wrote to the Prime Minister to alert government to the public subsidy being provided to the Welsh circuit’s development.