Am I right in thinking Donington was sold yesterday

[simon drabble]

are the new owners Historic friendly? Hope so as maybe someone like HSCC could organise a 6 hour race there!

[Jeremy Hall]

I understand a new lease was signed last week-to a new leaseholder- who appears to be content with the motor sport continuing as is but is looking to further develop other areas/activities at Donington.

[John Turner]

Yes, it was on the news saying that the new owners were going to improve the facilities (predictable announcement that though!)!

An HSCC 6 hour race is an excellent idea, Simon.

[Peter Mallett]

It's here.

[zefarelly]

interesting

I still theink the F1 GP should be at Brands

[Stephen Green]

I don't think Mr Palmer agrees

[Eddy V]

Originally Posted by zefarelly

I still think the F1 GP should be at Brands

That would be one race less for me at Brands then.

[JimW]

Originally Posted by Jeremy Hall

I understand a new lease was signed last week-to a new leaseholder- who appears to be content with the motor sport continuing as is but is looking to further develop other areas/activities at Donington.

My understanding is that they are much more positive about motorsport than "content" might suggest.

I think that this could well be the shot in the arm (kick in the ****?) and injection of cash which Donington so badly needs.

Regards

Jim

[PeterMorley]

Originally Posted by Jeremy Hall

I understand a new lease was signed last week-to a new leaseholder- who appears to be content with the motor sport continuing as is but is looking to further develop other areas/activities at Donington.

BBC news reported it as Donington had been sold, but they then said it was a similar agreement to the previous one which was some kind of lease agreement covering the running of the circuit.

Sounds like it is just another lease agreement and the ownership remains unchanged? Which isn't how it was reported.

[JimW]

My understanding is that the position was:

Tom Wheatcroft owned the freehold to the whole estate but sold a 20 (25?) year lease to a group which then sold that to SFX/ Clear Channel (which operated under the Live Nation name). That lease was only to the land within the existing "concrete boundary wall". No museum, no exhibition centre, no Sunday market area and none of the surrounding land. TW had no involvement in the operation of the lease.

And that the position is:

TW retains the freehold but has sold a 150 year lease to a company which has him (and son Kevin) having some involvement. Gillett/Lee are the owners/managers of the lease. The lease now includes everything, all the land, the museum, the exhibition centre, the Melbourne loop, Sunday market, the lot.

So that gives them much greater freedom to develop things. Now if only TW had not upset the planning authorities at every step - things might be easier!

Regards

Jim

[john ruston]

Wait unil the Masters team buys it!