The 829 members of the British Racing Drivers Club have a decision to make when they get together for their Annual General Meeting this week. Not unusual, that is what these sort of meetings are for.

Not this one. Facing potential bankruptcy they have to sell their only asset, the Silverstone motor racing circuit, and it is not proving to be easy. How so? With three offers on the table it should be relatively simple.

Well, nothing concerning the former wartime airfield in Northamptonshire has ever been simple. And this is no exception. It would, of course, be helpful although still difficult if conclusions could be reached on pure financial logic. But as Dale Carnegie’s famous tome How to Win Friends and Influence People concludes: ‘No-one ever won an argument or changed someone’s mind purely through rational debate. Human beings are not rational. We are powered by emotion and caprice’.”

Silverstone is the pride and joy of BRDC members. For some it is their life. Losing it is like someone tearing out your heart. Racing first started there in 1948. The first car British Grand Prix, won by Guiseppe Farina, was in 1950 and soon after motorcycle GPs with all the great riders from Geoff Duke through Mike Hailwood to Valentino Rossi competing there - often in inclement weather. And although the circuit was not among the best for bikes, being flat and long, the brand Silverstone had a certain magic to it and became world famous.

So among the venerable group of members there are a large number angry with the board and management for, firstly, having to sell the land surrounding the circuit to pay off bank debt and now the circuit itself. But it has to be done.

It is almost a year since tenders were issued to interested parties. Jaguar Land Rover soon put themselves on pole, seemed favourite and were given exclusivity. But before the celebration party could be held it was discovered that rival manufacturer Porsche, which has a presence on site, were unwilling to give up their contract which entitles them to 45 exclusive track days.

As if one spanner in the works was not enough, a second was thrown in by Yorkshire businessman Lawrence Tomlinson, owner of Ginetta racing cars. What might have been seen as a welcome intervention - his offer not having the JLR/Porsche complication - was not by all. It is said that some members did not like the cut of this 52 year old Batley-born self-made millionaire’s jib. Indeed, the circuit managing director Patrick Allen, was ‘let go’ following allegations that he was too close to Tomlinson, with whom, it is said he had worked previously. Chairman John Grant became a reluctant occupant of the MD’s seat.

Tomlinson’s wealth does not come from his racing car business. His position on the Sunday Times rich list with assets of £500 million plus is by way of LNT, his care home business - a connection which, one imagines, might be useful to certain BRDC members.

But that is not all. Jonathan Palmer, owner of Motorsport Vision which includes Brands Hatch, has now thrown his hat inyo the ring. He is not unfamiliar with a fire sale situation which is what the BRDC is now in - having to sell in order to settle debt, primarily to their bank but also, insiders say, to one Bernie Ecclestone, as payment in arrears for the F1 Grand Prix costing some £18m.

Palmer acquired Brands Hatch together with Oulton Park, Cadwell Park and Snetterton in 2004 from sports marketing agency Octagon, part of the giant Interpublic Group. It also was a ‘fire sale’, the US owners having paid an eye-watering £120m to the Foulston family for the circuits before hitting the financial buffers and being given a matter of weeks to raise cash. His offer of circa £20m was gratefully accepted.

His intervention comes, he says, after being ignored by the BRDC in this whole process. But he clearly smells blood and observes, rightly, that he could run it better than the present crowd. As one of the few track owners in the world making money - most of the rest surviving via state aid - and undoubtedly having the ability to raise the money it is perhaps he who should be in pole position.

However, there are problems. It is quite likely that a lot of the BRDC old guard don’t like this ex-F1 driver much either (too successful); he has never hankered after running F1 or MotoGP at his circuit(can’t make money); and owning six racing circuits, if you include Bedford Autodrome, might attract the attention of the Competition Commission. Rivals would certainly make them aware of competition issues.

It is said that the Palmer deal might leave the BRDC to run the F1 Grand Prix, not sure what the irascible Ecclestone might think about that but it is highly likely Palmer will have talked to him. As for MotoGP, it’s situation is even more confused. Currently it has a rent deal with Silverstone funded by the Circuit of Wales. How long the Welsh government will go on paying Silverstone and paying Dorna its £4m fee is anybody’s guess. Not too long is mine but you can bet that Donington boss Christopher Tate will be watching the situation with more than a little interest.

So decisions have to be made. If Jaguar Land Rover can come to terms with Porsche, and their requirement for 45 days track time, their bid, said to be worth £33m, might win the day. But the Tomlinson offer, not without support from many BRDC members, which initially was for a £6m upfront payment, paying off all debt and granting a 249-year lease at £1m a year index-linked has the benefit of simplicity.

It would also be privately owned by someone who knows something about motorsport, knows a thing or two about running businesses and, when asked by the government to write a report on the banking industry, did so in a manner which made him highly unpopular with the banking industry.

On that basis alone I know who I would vote for, but don’t discount Palmer.