Aug.30 (GMM/ Reports that Qatar is the likely buyer of the $400m lease of British grand prix venue Silverstone have been denied.

A British newspaper this week said the Arab emirate’s sovereign wealth fund is in exclusive talks for the 150-year lease with track owner The British Racing Drivers’ Club.

But the Gulf Times said the Qatar Investment Authority rejected the “authenticity of press reports … that it is a close to a deal” over Silverstone.

And an official source told the Qatar News Agency that there are “no relevant negotiations, currently nor in the past, in this respect”.