Donington GP (etc) under new threat over owed rent
Discussion
An e-mail dropped into my in-box today - and it doesn't look good for Donington:
PRESS RELEASE
23rd April 2009
Legal proceedings issued against Donington Ventures Leisure Limited
Wheatcroft & Son Ltd seek £2.5m in rent arrears
Wheatcroft & Son Limited, the owners of Donington Park motor racing circuit, have issued legal proceedings against Donington Ventures Leisure Ltd, the operators of the circuit, seeking £2.47m in rent arrears and forfeiture of the circuit lease.
Lawyers at Browne Jacobson LLP, acting on behalf of their client Wheatcroft & Son Limited, issued the proceedings at Derby County Court earlier today (23rd April).
Wheatcroft & Son Limited awarded Donington Ventures Leisure Ltd a 150-year lease back in January 2007. Donington Park, has since been awarded a ten-year contract to host the British Grand Prix from 2010.
Kevin Wheatcroft of Wheatcroft & Son Limited said :
“It is with great reluctance that we have taken this decision. Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease. We have held off taking legal action for as long as possible but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.”
No further comment will be made on this issue.
ENDS
PRESS RELEASE
23rd April 2009
Legal proceedings issued against Donington Ventures Leisure Limited
Wheatcroft & Son Ltd seek £2.5m in rent arrears
Wheatcroft & Son Limited, the owners of Donington Park motor racing circuit, have issued legal proceedings against Donington Ventures Leisure Ltd, the operators of the circuit, seeking £2.47m in rent arrears and forfeiture of the circuit lease.
Lawyers at Browne Jacobson LLP, acting on behalf of their client Wheatcroft & Son Limited, issued the proceedings at Derby County Court earlier today (23rd April).
Wheatcroft & Son Limited awarded Donington Ventures Leisure Ltd a 150-year lease back in January 2007. Donington Park, has since been awarded a ten-year contract to host the British Grand Prix from 2010.
Kevin Wheatcroft of Wheatcroft & Son Limited said :
“It is with great reluctance that we have taken this decision. Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease. We have held off taking legal action for as long as possible but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.”
No further comment will be made on this issue.
ENDS
DBRacingGod said:
An e-mail dropped into my in-box today - and it doesn't look good for Donington:
PRESS RELEASE
23rd April 2009
Legal proceedings issued against Donington Ventures Leisure Limited
Wheatcroft & Son Ltd seek £2.5m in rent arrears
Wheatcroft & Son Limited, the owners of Donington Park motor racing circuit, have issued legal proceedings against Donington Ventures Leisure Ltd, the operators of the circuit, seeking £2.47m in rent arrears and forfeiture of the circuit lease.
Lawyers at Browne Jacobson LLP, acting on behalf of their client Wheatcroft & Son Limited, issued the proceedings at Derby County Court earlier today (23rd April).
Wheatcroft & Son Limited awarded Donington Ventures Leisure Ltd a 150-year lease back in January 2007. Donington Park, has since been awarded a ten-year contract to host the British Grand Prix from 2010.
Kevin Wheatcroft of Wheatcroft & Son Limited said :
“It is with great reluctance that we have taken this decision. Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease. We have held off taking legal action for as long as possible but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.”
No further comment will be made on this issue.
CHANCE OF 2010 BRITISH GP ENDS
EFA.PRESS RELEASE
23rd April 2009
Legal proceedings issued against Donington Ventures Leisure Limited
Wheatcroft & Son Ltd seek £2.5m in rent arrears
Wheatcroft & Son Limited, the owners of Donington Park motor racing circuit, have issued legal proceedings against Donington Ventures Leisure Ltd, the operators of the circuit, seeking £2.47m in rent arrears and forfeiture of the circuit lease.
Lawyers at Browne Jacobson LLP, acting on behalf of their client Wheatcroft & Son Limited, issued the proceedings at Derby County Court earlier today (23rd April).
Wheatcroft & Son Limited awarded Donington Ventures Leisure Ltd a 150-year lease back in January 2007. Donington Park, has since been awarded a ten-year contract to host the British Grand Prix from 2010.
Kevin Wheatcroft of Wheatcroft & Son Limited said :
“It is with great reluctance that we have taken this decision. Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease. We have held off taking legal action for as long as possible but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.”
No further comment will be made on this issue.
CHANCE OF 2010 BRITISH GP ENDS
Bluebottle said:
Someone told me last week that Dinington was already in trouble having to close the circuit having lost its safety certificate due to unsatifactory run off areas on new sections of the track.
Has anyone else heard about this or is it just chinese whispers?
Its True that Donny doesnt currently have a circuit licence ( MSA & FIA) for Car Racing. the Moto GP is also in doubt....Has anyone else heard about this or is it just chinese whispers?
we were supposed to be racing their on 2/3 may but its been moved to Rockingham
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