26/12/2009 23:27:09 Martin C Taken from BBC news on Christams Eve, [B]Donington Park fails to attract buyer [/B] [IMG]http://newsimg.bbc.co.uk/media/images/46752000/jpg/_46752216_doningtonsign_226.jpg[/IMG] Parts of the track were dug up during the summer [B]Administrators have failed to find a buyer for the lease on the Donington Park racetrack, it has been confirmed.[/B] The previous leaseholder Donington Ventures Leisure Limited went bust in November with debts of about £20m. Despite having interest from several parties, an agreement to take over the track and the 150-year lease could not be reached, administrators said. The lease will now go back to owners the Wheatcroft family to decide the future of the complex. Donington Ventures Leisure Limited had won a 17-year contract to host the Formula One British Grand Prix but failed to raise enough backing. Some work had already been done to convert the track but it was stopped part way through, meaning the course is currently not suitable for racing. Earlier in December it was confirmed Donington would not host the 2010 British Superbike Championship, which had been a regular at the circuit.

27/12/2009 08:24:14 Tim Guy Confused. I know nothing about leasehold law but I don't get this. Can someone explain. Surely the lease had some value, even £1000, that the liquidators could realise. Donnington has to be back as a circuit in some form at some time, its just too valuable an asset, for example, for Midlands Airport to park cars on, even if it has no racing calendar for 2010

27/12/2009 13:44:59 Martin C I think the problem was Donnington Venture Holdings going into administration as a whole. They being the current leaseholders, it was for sale as part of the overall package put up for rescue. I assume because nobody rescued DVH that is why the lease has gone back to the Wheacrofts. Another site reported on Christams Eve, that all the staff had been made redundant [URL="http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=39718"]http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=39718[/URL] Also the Donnington web site has now been taken off line. There is now speculation that the Wheatcroft family will place a planning application to extend the business park. It is also reported that there is a growing resistance from local residents and businesses to have the track returned to a race track? I hope I'm very wrong, but I think we've seen the last of this great track :mad:

27/12/2009 21:09:53 Gary&BVZ Thoughts of a cynical old man .... Money , F1 and Bernie Ecclestone set this problem in motion .. Seems to me that Damon Hill and the BRDC are going to be short of cash for a while because of Silverstone upgrade .. And other circuit owners aren't flush with cash .. Isn't this the time for Bernie to pick up a bargain price race track.... Could have been his plan all along ... I've seen this sort of thing happen before ... I for one realy hope to have the pleasure of driving Donni again before I am " Passed it " .. Sorry if any of my thoughts are incorrect ... Anyone going to Bedford in Feb ?????

29/12/2009 10:27:31 Mike Hall To Tim's original comment and Martin's reply, I think that regardess of the value of the lease, the investment any potential leaseholder would have to make to restore the track to a usable state before realising a return on that investment would outweigh any incentive to purchase. Without hosting the Grand Prix or any event of similar status, the sums probably just don't add up. A sad day.

05/01/2010 21:34:04 Paul [FONT=Arial]I am also a member of the RX8 owners club, whilst browsing the forum tonight I spotted the following link about trying to save the circuit. [/FONT][URL="http://www.rx8ownersclub.co.uk/forum/viewtopic.php?f=18&t=28949"][FONT=Arial][COLOR=#800080]http://www.rx8ownersclub.co.uk/forum/viewtopic.php?f=18&t=28949[/COLOR][/FONT][/URL] [FONT=Arial]Sounds like a good idea to me! :cool:[/FONT]

06/01/2010 09:59:23 Mike Hall Had seen reference to this rally to save the circuit on one of the Lotus forums, but better news on this snowy morning is perhaps to be seen here: [URL="http://www.thisisnottingham.co.uk/homenews/Future-Donington-Park-secure-says-owner/article-1676144-detail/article.html"]http://www.thisisnottingham.co.uk/homenews/Future-Donington-Park-secure-says-owner/article-1676144-detail/article.html[/URL] Kevin Wheatcroft says that work is underway to restore the circuit. £600k to fix it and twelve potential buyers for the lease. That's good news to my ears!

06/01/2010 10:24:20 Tim Guy Most excellent news. Thanks for linking Mike :) Maybe we can get a track day there this season yet. I'm sure any buyers will be hungry for business asap, even before it becomes fully approved for racing.

06/01/2010 11:11:38 Martin C It looks like things might not be so grim, Kevin Wheatcroft has released this today, [URL="http://www.thisisderbyshire.co.uk/news/Family-reassures-motor-racing-circuit-s-future/article-1676198-detail/article.html"]http://www.thisisderbyshire.co.uk/news/Family-reassures-motor-racing-circuit-s-future/article-1676198-detail/article.html[/URL]

06/01/2010 15:20:51 Mike Hall Autosport are now also running the article: [URL="http://www.autosport.com/news/report.php/id/80753"][COLOR=#000080]http://www.autosport.com/news/report.php/id/80753[/COLOR][/URL] and a similar re-work of the other copy here: [URL="http://www.thisisbusiness-eastmidlands.co.uk/news/Family-reassures-motor-racing-circuit-s-future/article-1676198-detail/article.html"][COLOR=#000080]http://www.thisisbusiness-eastmidlands.co.uk/news/Family-reassures-motor-racing-circuit-s-future/article-1676198-detail/article.html [/COLOR][/URL] Let's hope that it does indeed work out.