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Is British motorsport going bust?
Latest information from reliable Motor Racing Industry sources indicates that the loss making Brands Hatch Circuits Ltd, which is selling its racing circuits, is pressing British Motorspost Promotors Ltd (BMP) for re-payment of loans made in recent years to fund the losses accumulated from running the British Touring Car and PowerTour series.
The figure is reported to be in excess of five million pounds, which probably exceeds the asset value of BMP, making it insolvent. If this is the case, BMP may be in danger of bankruptcy or having to go into liquidation unless the circuit owners (who are shareholders in BMP)fund the shortfall.
One of BMP's main revenue earners, the BTC, has deteriorated under their management and is now a loss making liability which seems unlikely to survive in its current form. This is the main cause of BMP's current dilemma.
At a time when the presentation and promotion of British Motorsport should be moving forward, the company which has taken on that task has only succeeded in promoting substantial losses and jeopardising the future of the industry.
Most observers will agree that now is the time for a change.
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