Brands Hatch boss rules out F1 return
Dr Palmer, a veteran of more than 80 grands prix in the 1980s, told the Kent on Sunday newspaper that staging the first formula one race there since 1986 would be "impossible" without nearly (US) $80m in improvements.
Brands Hatch hosted twelve grands prix at the English circuit from 1964, and the last was won under the European GP banner by Nigel Mansell in 1986.
But even with the future of current British grand prix venue Silverstone in doubt, Palmer – who bought the track in 2004 – said: "We have not got the space for formula one as the track would need a radical re-development.
"Particularly with the requirements for the safety these days, it would cost us an awful lot of money to get these up to standard.
"Secondly, I do not think it would be good business. Having a grand prix is not a business. It is really a global flag waving exercise for a country," he added.