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Old 18 Sep 2003, 12:26 (Ref:722984)   #1
crucifix
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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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Old 18 Sep 2003, 16:59 (Ref:723229)   #2
El_Gibleto
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Interesting as the largest shareholder of BMP is BHC!

I'm still trying to find evedence of BMP's "promotion" of the british F3 series, they claim to have done some.
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Old 18 Sep 2003, 18:18 (Ref:723305)   #3
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They do advertise F3 in Autosport - not the best place for trying to attract a wider audience.
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Old 18 Sep 2003, 19:11 (Ref:723361)   #4
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Interesting, particuarly as arguably Octagon were effectively running BMP at the time I imagine they are talking about. Even the competition committee report remarked on the "murkiness" of the structure.

Interestingly again, apparently every series they promoted included bikes made a huge loss around that period as well. Strange.
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Old 18 Sep 2003, 23:18 (Ref:723618)   #5
jamescrofts
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Yes! We the team owners and competitors are being ripped off! Our schedule has been altered again this week for the TVR race at Brands Hatch.
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Old 19 Sep 2003, 04:13 (Ref:723728)   #6
El_Gibleto
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The adverts for BF3/GT in autosport are paid for by 76 Fuels, not by BMP.
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Old 19 Sep 2003, 07:03 (Ref:723786)   #7
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Originally posted by El_Gibleto
The adverts for BF3/GT in autosport are paid for by 76 Fuels, not by BMP.
Yes very true. BMP's promotion of events really goes back a couple of years.
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Old 19 Sep 2003, 09:02 (Ref:723895)   #8
Chris Y
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So, when the acronym BMP stands for "British Motorsport Promoters" - remind me, what do they actually promote again?
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Old 19 Sep 2003, 10:11 (Ref:723962)   #9
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Dont get me started on BMP I think there are the down fall of the UK Motor Racing Industry. When there got there hands on to the at the time powertour (F3 and GT's), which was a good racing package, there canned it so it would compete with the TOCATOUR which was stupid.
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Old 4 Oct 2003, 08:17 (Ref:740104)   #10
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Too many people trying to make a profit out of an amateur sport , its badly and inefficiently run with unsustainable costs, and unrealistic expectations .

There is now a very real chance that one or more UK circuits will be bought by a house builder as land bank and successfully massage planning consent and motor racing in this country will gradually disappear, through sheer greed.
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