South Africa’s premier racetrack, Kyalami, which previously hosted Formula One Grand Prix races, will be sold today (24 July) and could be lost to motorsport.

Auction organisers said on Wednesday that a minimum price of R200 million has been set for the famed circuit located north of Johannesburg.

“If a developer buys it, obviously it will change the nature of Kyalami quite considerably, because there will probably no longer be a track,” said Lance Chalwin-Mitton of the High Street Auction Company.

Some prospective buyers were, however, looking at the possibility of keeping the track while developing around it, he said.

The 4.26 kilometre circuit hosted Formula One races from 1967 to 1985, before being removed from the championship due to a sports boycott against the former racist apartheid regime.

Local hero and former world champion Jody Scheckter won the South African Grand Prix there in 1975.

Formula One was revived at Kyalami in 1992 and 1993 in the wake of the release from prison of liberation icon Nelson Mandela. Frenchman Alain Prost was the last winner at Kyalami in 1993.

The circuit hosted its last international competition in May 2010 with the sixth race of the World Superbike Championship.

It is now being sold because of the liquidation of the company which owned the property.

“It won’t be sold under 200 (million), but we are pretty confident it will exceed the reserve price,” Chalwin-Mitton said.

The sale will be held at 12pm in Johannesburg.