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Old 14 Jan 2017, 17:24 (Ref:3702555)   #151
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I'm also staggered that to convert the hanger building into a heritage centre providing a 2 hour 'interactive experience' is going to cost £20M! As a comparison a well known superstore brand is building a brand new store (which may well be bigger than the hanger) in our area, including demolition of an existing site, creation of car parking, landscaping, etc and we are told the budget for that is £4.5M...

I hope the estimator for the Wing is not leading this project too...!
Or the surveyor ........
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Old 14 Jan 2017, 18:41 (Ref:3702575)   #152
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I'm also staggered that to convert the hanger building into a heritage centre providing a 2 hour 'interactive experience' is going to cost £20M! As a comparison a well known superstore brand is building a brand new store (which may well be bigger than the hanger) in our area, including demolition of an existing site, creation of car parking, landscaping, etc and we are told the budget for that is £4.5M...

I hope the estimator for the Wing is not leading this project too...!
Hanger building? Which building and which circuit?
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Old 15 Jan 2017, 18:43 (Ref:3702753)   #153
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Hanger building? Which building and which circuit?
Reported to be the last remaining wartime hangar, located to the left of the main entrance. So well outside the circuits.....
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Old 16 Jan 2017, 00:54 (Ref:3702810)   #154
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I see they are pimping around the 'we're looking for government money' line.

No. I'm a complete motorsport nut, but I don't want a penny of my taxes going to F1 greed. I hope the government has the sense to tell Bernie where to shove his GP.
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Old 16 Jan 2017, 09:32 (Ref:3702887)   #155
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I see they are pimping around the 'we're looking for government money' line.

No. I'm a complete motorsport nut, but I don't want a penny of my taxes going to F1 greed. I hope the government has the sense to tell Bernie where to shove his GP.
That's not quite what he said at ASI. This is:

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Originally Posted by Derek Warwick in the Grauniad
“We are talking to the government to see if there is any help there,” he said at the Autosport International Show in Birmingham on Friday. “I feel there is light at the end of the tunnel and I think we will have a grand prix past 2019.” He added: “We are feeling very positive at the minute.”
I'm uncomfortable with the idea of taxpayer funds being given to F1, however indirectly, especially as public spending in the UK is being slashed (and we're all seeing the consequences of that) but HMG have a lot of ways of 'assisting' various sporting bodies without that involving large injections of cash.

Desolate and windswept as it is, I like Silverstone and it would be a shame to see it not hosting a GP.
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Old 16 Jan 2017, 11:17 (Ref:3702902)   #156
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That's not quite what he said at ASI. This is:



I'm uncomfortable with the idea of taxpayer funds being given to F1, however indirectly, especially as public spending in the UK is being slashed (and we're all seeing the consequences of that) but HMG have a lot of ways of 'assisting' various sporting bodies without that involving large injections of cash.

Desolate and windswept as it is, I like Silverstone and it would be a shame to see it not hosting a GP.
Any public money going to Silverstone would be a complete disgrace in these straightend times
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Old 16 Jan 2017, 12:01 (Ref:3702915)   #157
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Agreed. No GOVT money to Silverstone. In a sport that is so stinking rich and a sub-set of the sport (F1) which is a vacum in terms of money for the rest of motorsport, seeing public money going to prop it up would leave me in a state of revolt.

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Old 16 Jan 2017, 12:23 (Ref:3702921)   #158
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I think we can all agree that any public money gfoing to a race track that has been hilariously mis managed in recent years largely through no fault of the BRDC, is bad all round.

It will never happen anyway, they should not qualify for lottery money or anything.

We all know the reasons why they can't make money and it has nothing whatsoever to do with the track or its facilities, location or traffic or anything else.
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Old 16 Jan 2017, 13:12 (Ref:3702931)   #159
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I'm uncomfortable with the idea of taxpayer funds being given to F1, however indirectly, especially as public spending in the UK is being slashed (and we're all seeing the consequences of that) but HMG have a lot of ways of 'assisting' various sporting bodies without that involving large injections of cash.

Desolate and windswept as it is, I like Silverstone and it would be a shame to see it not hosting a GP.
i agree with this, and those saying it'd be complete nonsense to hand money to silverstone. it's a purely commercial arrangement at an established venue with tons of money flying around. it doesn't encourage new business or employment other than temporary weekend workers, though i suppose there's an arguement that it's important to maintain the race here for the uk motorsport industry, particularly with the next few years of brexit fun ahead.

perhaps it'd be justifyable if the grand prix could be used as an exhibit of british engineering prowess, but i'm not sure the terms and conditions agreed with fom would allow for it to be hijacked in that way.
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Old 16 Jan 2017, 21:34 (Ref:3703015)   #160
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i agree with this, and those saying it'd be complete nonsense to hand money to silverstone. it's a purely commercial arrangement at an established venue with tons of money flying around. it doesn't encourage new business or employment other than temporary weekend workers, though i suppose there's an arguement that it's important to maintain the race here for the uk motorsport industry, particularly with the next few years of brexit fun ahead.

perhaps it'd be justifyable if the grand prix could be used as an exhibit of british engineering prowess, but i'm not sure the terms and conditions agreed with fom would allow for it to be hijacked in that way.
Tons of Money? Have a look at Silverstone's last lodged accounts. Cash on hand makes interesting reading...

Last edited by Peter Mallett; 24 Jan 2017 at 18:50. Reason: Just tidying up.
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Old 17 Jan 2017, 07:48 (Ref:3703082)   #161
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Ooo, a link would be good fella? That would make interesting reading
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Old 17 Jan 2017, 12:26 (Ref:3703127)   #162
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Ooo, a link would be good fella? That would make interesting reading
DYOR - google is your friend
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Old 17 Jan 2017, 13:45 (Ref:3703147)   #163
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perhaps someone would be kind enough to suggest which company name to search for on companies house so as to save someone 15 minutes of their own rummaging trying to find the right one...
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Old 17 Jan 2017, 13:53 (Ref:3703150)   #164
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If it was anyone other than me, the link would have been provided, the guy hates me.

I will try later on.
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Old 17 Jan 2017, 14:12 (Ref:3703154)   #165
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perhaps someone would be kind enough to suggest which company name to search for on companies house so as to save someone 15 minutes of their own rummaging trying to find the right one...
Try this for a Silverstone Circuits Ltd summary. (I'm too mean to pay the charge for a copy of the accounts.)

https://companycheck.co.uk/company/0...ies-house-data

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Old 17 Jan 2017, 14:19 (Ref:3703155)   #166
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cheers jim, that's a great help. trying to figure out where all the interesting dirt is on some organisations can involve checking 5 or 6 different companies so it's nice to see one that's relatively straightforward. it's also available here directly on companies house
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Old 17 Jan 2017, 14:48 (Ref:3703161)   #167
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If it was anyone other than me, the link would have been provided, the guy hates me.

I will try later on.
"The Guy" doesn't even know (or care) who you are.....
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Old 17 Jan 2017, 15:32 (Ref:3703164)   #168
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cheers jim, that's a great help. trying to figure out where all the interesting dirt is on some organisations can involve checking 5 or 6 different companies so it's nice to see one that's relatively straightforward. it's also available here directly on companies house
Welcome but I do suspect that there will be a few more companies involved to get a full picture. (BRDC, other companies with Silverstone in the name, The Wing Shambles Ltd?) Traditionally I guess the start would be to do a search on directors.

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Old 17 Jan 2017, 15:52 (Ref:3703165)   #169
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SILVERSTONE CIRCUITS LTD. Score 15 out of 100.
Risk Maximum Risk - Significant Issues
Credit Limit £0 Credit Limit vs Credit Rating
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Credit Rating £0
There is a deficit in both capital employed and shareholders funds.

There has been a very significant fall in shareholders' funds over the latest accounting period.

There has been a heavy trading loss in the latest accounting period.

In our view this company is a very high credit risk. We therefore recommend you make full & detailed enquiries before offering credit. Add to monitoring list.

This was to the end of December 2015. Still waiting for next accounts.
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Old 17 Jan 2017, 16:42 (Ref:3703177)   #170
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Business that size with £9k cash in the bank at year end.....
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Old 17 Jan 2017, 16:46 (Ref:3703179)   #171
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If it was anyone other than me, the link would have been provided, the guy hates me.

I will try later on.
Wrong again, no discrimination here, I always try to point people in the right direction so that in future they can find their own way.
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Old 17 Jan 2017, 16:56 (Ref:3703182)   #172
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This was to the end of December 2015. Still waiting for next accounts.
Well it would be. Next accounts, to December 2016, not due until September 2017.

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Business that size with £9k cash in the bank at year end.....
Unfortunately that doesn't give an accurate picture of today's situation. However, their cash position is very transitory as it relies heavily on advanced ticket sales for the upcoming GP, and the fact that Silverstone continued for a further year says something.

And I add my view that no public money should be used for the circuit. If CVC and the other shareholders of F1 hadn't drained it of all it's revenue, there would have been enough in the kitty to stop all the escalator clauses in the circuits' contracts. And now they want to sell it to a media operation that is having to borrow nearly $2 billion to fund the purchase. Madness.
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Old 17 Jan 2017, 17:36 (Ref:3703205)   #173
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Well it would be. Next accounts, to December 2016, not due until September 2017.



Unfortunately that doesn't give an accurate picture of today's situation. However, their cash position is very transitory as it relies heavily on advanced ticket sales for the upcoming GP, and the fact that Silverstone continued for a further year says something.

And I add my view that no public money should be used for the circuit. If CVC and the other shareholders of F1 hadn't drained it of all it's revenue, there would have been enough in the kitty to stop all the escalator clauses in the circuits' contracts. And now they want to sell it to a media operation that is having to borrow nearly $2 billion to fund the purchase. Madness.
Didn't they try and preserve cash income by paying for the GP in arrears?

I concurr that no government money should go into Silverstone to go into the pockets of FOM and frankly some percentage of into wealthy teams like Mercedes and Red Bull either. They have just managed to secure £9M from local councils though for the heritage centre.
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Old 17 Jan 2017, 19:00 (Ref:3703222)   #174
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Didn't they try and preserve cash income by paying for the GP in arrears?

I concurr that no government money should go into Silverstone to go into the pockets of FOM and frankly some percentage of into wealthy teams like Mercedes and Red Bull either. They have just managed to secure £9M from local councils though for the heritage centre.

£9m!!! To fill a hanger with stuff?!! Basically a monument to what? Graydon, Donington and Beuliee do a good job already. It would not take a hanger to lay out what a shambles Silverstone has been....
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Old 17 Jan 2017, 22:32 (Ref:3703258)   #175
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Thought I read on another thread here that the whole hangar project is £20million, and didn't they get some lottery funding for it too?
(or was I dreaming?)
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