so call is £0.5Million to get it working and ignore the other mill to put facilities there (well thats what a UK motorsport venue is all about isnt it? lol)
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so call is £0.5Million to get it working and ignore the other mill to put facilities there (well thats what a UK motorsport venue is all about isnt it? lol)
Im not sure what all the real fuss is about? I doubt any of them knew they would go bankrupt before it was finished! Saddly donny has never been the most amazing place for anything but driving (the track is good) it was badly in need of re-doing! Might be lucky and get taken over and made into somthing the rest of the contry doesnt have both a good drivers track and a good spectators track/facilitys!
the man was a property developer that nobody had heard of, with no money, the whole scheme was ridiculously over optimistic, even if they flew pakistani labour in, like the arab states do, & suspended HSE rules, it would never have been ready, i personally think it was being used as a stick to whack silverstone with to get more money from them, and when they said no, it got the green lightQuote:
Originally Posted by nova16vxe
Makes you want to punch a kid.
it was too ambitious without having properfunding in place to back it up, if he was serious he should of gained the finance then gone for the gp jesus he had a 150 year lease on the curcuit, look at john wheatcroft he bought it when it was virtualy a boming range and gradualy improved facilities. tbf i would say doningtons facilities were very good compaired to other uk tracks i would have put it second to silverstone.
the rhumor at present is that motor sport vision is going to get the lease and tbf with the way they run brands etc id welcome that think they would do a good job of getting it back to being a good venue with a few showcase events such as btcc bsb and who knows hopefully in the future they will be able to attract wsb back and other events.
Because the company that had the old lease has gone bust and no one wants to buy the old business the administrator has given up so the old lease has now been riped up so the curcuit is back in the hands of the wheatcrofts and they are looking to re lease the curcuit, the reason no one would buy the old company and lease were many the main being they would have to take on the debts to builders etc and the fact that the lease cost was 2million per annum, and now all its jewells have gone like bsb and wsb so no way of even covering the lease with the wheatcrofts again having control a lease at a lower rate is possible which will secure the curcuit, btcc still has it on the calender for september but i think that optermistic.
whoever gets it though will not be continuing the grand plans it will be a case of get it running and get some income coming in then gradualy improve as john did which is the safest option for the long term future of the venue imo
^ well hopefuly we will see the place back to its best!
i decent btcc meeting, especially a well promoted one at donington, would get about 30000 people thru the gate, and they will all be spending maybe £30 on tickets & catering...... thats 900k in one weekend. & i know the bloke with the catering contract & he pays well for that, so they'll maybe get 750k in one hit, if they can get a bsb & maybe wsb, plus a decent international meeting, they'd be cooking wi' gas
tbf with the present state and the investment needed i would think the lease will be less dont forget tracks have to pay to host events such as btcc bsb etc and the costs aint cheap for maintaining the curcuit and any potential lease hlder will want the prospect of a profit
the other peope rhumored to be interested are brdc which would also be good hands imo
they can't even host a festival at the moment, but by september, they could.....
this was always the problem with that blokes plans.... he stopped all other races & events, thus killing his cashflow instantly, the tunnel could have been done in 3 weeks from start to finish easily.... there are tons of restrictions at donington including noise, which is ridiculous considering the 747 cargo planes next door, and the venue simply couldn't create enough income from races alone & i can't imagine they'd allow any house building on the site.....
housing is out look at the uproar about proposed hotels when the gp contract was anounced least that problem is gone lol, but as for the noise restrictions i think the locals are realizing that they need the place, it closing has had a nock on effect on the local economy there and alot of local businesses and home owners were at the save donnington meet on 7/3/10 this year so who knows maybe they will get relaxed slightly
at least the museam and confrence facilities are back open for business