UK Circuit sell-off

[Peter Mallett]

I know! Why don't we put a bid in and open a Sunday market?

[Dave Brand]

Originally posted by Peter Mallett
The thoery that because a contract is signed you need to proceed is not necessarily true. You can cancel (terminate) and just pay the real costs of the contractor.

Point taken, however, I think that at Oulton the work may have actually started in Q3 - a demolition site where the pit garages & race control used to be wouldn't have done much to attract buyers!

[AndyF]

Taken from octagonmotorsports.com

Snetterton to See New Facilities Development in 2003

17 February 2003
Snetterton will undergo two significant construction developments for 2003 following an investment of £175,000 from Octagon Motorsports UK.

A new access road will be completed to the circuit to coincide with the opening of the new A11 dual carriageway. This will give visiting fans easy access to the main road and will open Snetterton to a much larger audience.

Also a new toilet block is to be built at the venue as part of a rolling programme to improve spectator facilities at Snetterton.

Michael Browning, Managing Director of Octagon Motorsports UK, commented: “We have undertaken this investment in 2003 to ensure that we can provide the best possible facilities at our circuits and meet the highest possible standards in terms of safety and comfort for teams and spectators”.

[Piglet]

I've been trying to find the press release that mentioned Octagon's new investments but I seem to have binned it, my recollection of it was that it was not referring to ongoing investment as such but was promoting Octagon's plans for new investment which sounded to me like bigging it all up to raise share prices etc. Maybe someone's still got a copy of it around?

ALso don't forget that any investment at Silverstone is almost certainly as a consequence of the lease agreement with the BRDC (and FIA requirements).

I'm going to try to post a link to the Reuters site which links to a news article from 22.17 10th March which refers to Interpublic's share price and the ongoing problems that they are struggling with. Some of them generic to the economy in general but some of them very specific to Interpublic and Octagon Motorsports. If the link doesn't work, go to Reuters.co.uk look at news and do a keyword search on Interpublic and look at that article (am not always very good with the tekkie stuff!).

I find it hard to believe that Interpublic will continue to bankroll Octagon Motorsports, my opinion (for what it's worth!) is that they will bail out sooner rather than later... Whether that will be good or bad for British Motorsports only time will tell...

http://www.reuters.co.uk/newsArticle...toryID=2356723

[Andrew Kitson]

The foundations are being dug at Snett this week for the new commentators tower, next to the old one. When completed and up and running, the old one is coming down. Also the old runway entrance/exit is being tarmac'd this week. No more pot holes!
Had a circular email from the Octagon press office today re: the investment at Cadwell. This investment is mainly resurfacing at Charlies, the exit of the Gooseneck and Hairpin.
There has been nothing in the local press near to Snett about plans for housing/building. Lets hope it is just a rumour.

[Les]

hang on a minute though - the old runway entry/exit is for the market not the circuit. The signposts for the circuit take you in probably a different way - sort of 90degrees to the ticket booths.

Also the toilets were disgusting a fortnight ago - the ones in the centre of the paddock had had fires in them!! Just lovely.

[Richy_Rich]

Heh, I just looked up Interpublic on our systems here. They're rated as having a credit risk of BBB- which is one above 'junk'.

[Piglet]

Then it's been increased - a week or so ago it was a junk rating!!!!

[Spaced Invader]

the Snetterton/housing rumour has been around for years. in the early ninties a serious threat came up as some developers nearly bought Snetterton and my dad launched a one man campian to 'Save Our Snetterton' he went around towns in the locasl area trying to drum up support. most people said that they couldnt give a monkeys whether there was a track there or housing. personally i feel very, very lucky to have a racing circuit just a minute up the road and if it came to the crunch and they where about to build houses on Snet, i'd chain myself to the pitwall railings and refuse to move!!!

[Sim_Da_BTCC_Man]

Originally posted by Spaced Invader
personally i feel very, very lucky to have a racing circuit just a minute up the road and if it came to the crunch and they where about to build houses on Snet, i'd chain myself to the pitwall railings and refuse to move!!!

I second that. I'll join you and lead the protest song "Manna Manna" By Animal and The Muppets. Thats bound to scare anyone away. Especialy when im singing it

Seriously tho, someone told me the other week that there is some kind of heritage thing at Snetterton which means they cant bulldoze it but I refuse to belive that unfortunatly.

[Richy_Rich]

Originally posted by Piglet
Then it's been increased - a week or so ago it was a junk rating!!!!

Probably since they announced the selloff, arf!

[PenelopePitstop]

The resurfacing of the exit to the Gooseneck is hardly investment, it is long overdue routine maintance, when we raced there last summer driving on the track felt like driving on the rumble strips.

[Peter Mallett]

Originally posted by Sim_Da_BTCC_Man
Seriously tho, someone told me the other week that there is some kind of heritage thing at Snetterton which means they cant bulldoze it but I refuse to belive that unfortunatly.

There is a monument to the American Aircrews who took part in bombing raids during the war. Its right next to the entrance gates so presumably there is something in that rumour.

And they've resurfaced the Gosseneck at Cadwell! My-my, investment doesn't come more expensive than that does it?

[AndyF]

Originally posted by Peter Mallett


And they've resurfaced the Gosseneck at Cadwell! My-my, investment doesn't come more expensive than that does it?

Too right. I am sure some of the toilets are left from when they opened the circuit in the 1930s