Tuesday 27th July 2004

TVR Sold - CONFIRMED!

Truth is often stranger than fiction...

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Strong rumours are emerging today that TVR have come to a deal with a Russian investor.

Details are very patchy, with emails flying around the internet suggesting that the Blackpool company has secured a buyer and that details will be made public later today.

Latest statement from TVR:

We can confirm that a 100% shareholding in UK car-maker TVR has been purchased today. The new owner is Nikolai Smolenski.

Plans for the future are to continue trading, invest heavily in new technology and production methods, and hence enhance the TVR brand to become a global player.

There will be no large-scale restructuring and new managerial appointments will be made in due course. Peter Wheeler, previous owner, will remain on board as a senior consultant.

Latest news from the BBC

[pikey]

Doesn't quite add up to me... why would they sell it and leave PW in charge?

Surely one of TVR's major success points is that PW reports to noone and can make his own mistakes (and successes) at his own risk. If he's now playing with someone else's company (and investment) then he would have a rein on him...?

Mind you, some decent quality control and a reliable engine would certainly bring thousands back to the marque! I hope some elements to the rumour are true at least.

Ben