I see the risk element and it is clear that a club can't cover it. After all we don't want our entry fees wasted in an insurance fund for this venture
If a good credible business case could be made, with a 'retailer' partner found, and if it was presented to a circuit (as we have deemed that they should take the risk) then it could fly. Of course, the circuit would also gain the reward then.
That is what I meant by if it can be successful it doesn't matter. The structure defines where the risk (and reward) sits, not whether it is successful or not.