Mallory Park Motorsport Limited has been put into administration. The move comes as circuit bosses were forced to limit motorsport activities, resulting in a significant loss of revenue.
The circuit was subject to a “highly restrictive” noise notice in place since 1985. More recently, some of the provisions which were open to interpretation have been placed under scrutiny by local residents.
After the residents approached Hinckley & Bosworth Borough Council, the local authority prosecuted MPML over four breaches of the noise notice during 2012. This forced to circuit organisers to adhere to the strict provisions of the 1985 notice, which allowed 40 days' racing on Sunday annually with a dispensation for four Saturdays a year.
Testing was allowed on Wednesdays, but bosses were forced to cancel all track day operations and use of the track for community activities, including young driver training.
The resulting loss of revenue forced Mallory Park management to develop a recovery plan, which relied in part on a reduction in annual land lease. Despite a 40 per cent increase over the past eight years, the landowner “refused to make a substantive offer to allow the recovery plan to proceed”, said Mallory Park.
Despite support from the BARC, MPML has been placed in administration. The administrator, Ian Robert of Kingston Smith & Partners LLP, said: "I will be working with all the stakeholders to ensure that Mallory Park will see racing again. I hope the administration process can assist in finding a solution which will be beneficial to all parties concerned.
"To that end, I will be negotiating with the landlord and the council, with the support of the BARC, to ensure that racing can be enjoyed at Mallory Park for years to come. Although it is early days, I am hopeful that, once a solution to the lease is found, all of the company’s creditors should receive a substantial dividend, which I understand is very much the driving force behind the continued support of the BARC."
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It's the same with the
It's the same with the circuit of Charade in France near Clermont-Ferrand. One of the best circuits in France.
People build their home near the track and complain later...
NIMBYs
I can imagine if you asked the residents living around Monza, Imola and Fiorano you'd get quite a different response. Agree with others, the NIMBYs must have known the track was there when they moved in. Deal with it or sell up.
MikeSpencer wrote: I can
Not quite as a easy as just selling up, I know someone who lives whose house has been on the market for over three years. You need to look at both sides.
Marc wrote:MikeSpencer
You have a point Marc, if selling isn't an option then I hope an amicable resolution can be found for all parties concerned and the track can reopen ASAP. I've now looked at the comments made on Pistonheads and it would seem this issue is far from straightforward as it first appears.
Land will be purchased by
Land will be purchased by developers.
Scenario 1:
Thus new houses/flats fill the void where the track once lived, This increases supply of housing in the area and therefore lowers value of properties in village. Increase in road traffic in area leading to congested roads
Scenario 2
Site is used for a business park
Number of warehouses and industrial units setup
Increased traffic resulting form Delivery vehicles, HGV's and cars, increases traffic congestion.
Do these people really think this site will be restored to a pristine nature reserve for their own benefit only?
Scenario 3
Scenario 3 is renewable energy generation - the 'nimby's' could also have a windfarm or solar farm to contend with. The BRDC really ought to do some more work to get the racing circuits of the UK preserved somehow. Do Outlon Park and Cadwell Park have any special protection?