Title: F1 - Donington - may not be
Post by: nopanic - neil on October 22, 2009, 08:46:58 pm
Saw this today - http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8300268.stm
Title: Re: F1 - Donington - may not be
Post by: Brad Zarse on October 22, 2009, 09:35:56 pm
Gillett.....The worst a petrol head could get.....
What a prize <insert expletive here>
What a prize <insert expletive here>
Title: Re: F1 - Donington - may not be
Post by: garyfrogeye on October 23, 2009, 12:49:01 pm
I find it hard to believe that Donnington was ever going to get it in the first place. I have felt that it was alway a device to get Silverstone to pay more money over a shorter period of time or at worst to give Bernie an excuse to dump the British GP altogether so that F1 could be tendered out to more fanancially lucrative pastures. It's just that no one ever told Donnington.
Title: Re: F1 - Donington - may not be
Post by: Jules G on October 23, 2009, 12:51:27 pm
Copied off Crash.net
A statement issued by track operators, Donington Ventures Leisure Ltd, added that the bond had 'failed to secure enough subscriptions'.
The full blurb read:
"Donington Ventures Leisure Limited can confirm that a bond for £135 million to cover the cost of the F1 redevelopment at Donington Park has been unsuccessful.
"Despite higher than expected levels of interest and very positive early indications, the bond - which was launched with Citi Group last week - has failed to secure enough subscription ahead of today's deadline.
"The news dealt an unexpected blow to staff and management at the circuit, who still have a deadline of 12pm on Monday 26 October to remedy a breach of contract with Formula 1 Rights Holder Bernie Ecclestone, in order to keep any plans for retaining the existing 17-year Formula 1 contract alive.
"Information regarding the circuit's future plans is not yet available, however the major focus is on providing security for the Leicestershire venue and all related parties, including staff and suppliers.
A statement issued by track operators, Donington Ventures Leisure Ltd, added that the bond had 'failed to secure enough subscriptions'.
The full blurb read:
"Donington Ventures Leisure Limited can confirm that a bond for £135 million to cover the cost of the F1 redevelopment at Donington Park has been unsuccessful.
"Despite higher than expected levels of interest and very positive early indications, the bond - which was launched with Citi Group last week - has failed to secure enough subscription ahead of today's deadline.
"The news dealt an unexpected blow to staff and management at the circuit, who still have a deadline of 12pm on Monday 26 October to remedy a breach of contract with Formula 1 Rights Holder Bernie Ecclestone, in order to keep any plans for retaining the existing 17-year Formula 1 contract alive.
"Information regarding the circuit's future plans is not yet available, however the major focus is on providing security for the Leicestershire venue and all related parties, including staff and suppliers.
Title: Re: F1 - Donington - may not be
Post by: chop456 on October 23, 2009, 02:20:30 pm
I find it hard to believe that Donnington was ever going to get it in the first place. I have felt that it was alway a device to get Silverstone to pay more money over a shorter period of time or at worst to give Bernie an excuse to dump the British GP altogether so that F1 could be tendered out to more fanancially lucrative pastures. It's just that no one ever told Donnington.
My thoughts exactly.
Title: Re: F1 - Donington - may not be
Post by: powermite on October 23, 2009, 02:27:14 pm
I dont think that anybody who has the slightest interest in F1,thought that Donnington was a non starter.At the time the deal was announced ,we had the contract to redevelope the pits at Silverstone.All that was shelved and we lost a very nice contract
PM
PM
Title: Re: F1 - Donington - may not be
Post by: Lorry on October 23, 2009, 02:34:19 pm
What a mess, again.
I think they were always going to have trouble raising the money, as there wouldn't be a commercial return for investors, but a couple of years ago you could do daft deals like that.
The BDRC have known about this for months and have been buttering up Bernie, so Silverstone it is.
I think they were always going to have trouble raising the money, as there wouldn't be a commercial return for investors, but a couple of years ago you could do daft deals like that.
The BDRC have known about this for months and have been buttering up Bernie, so Silverstone it is.
Title: Re: F1 - Donington - may not be
Post by: Barry on October 23, 2009, 02:41:29 pm
.
of other interest to us Jean Todt is t beccome president of the FiA.
[/quote]
FIA have rejected an oppotunity to elect a new broom, not tainted by the previous regime.
Expect more of the same in the future, with Uncle Max looking over Jean's shoulder, getting his grubby little fingers into things.
Title: Re: F1 - Donington - may not be
Post by: Bentley boy on October 23, 2009, 03:34:42 pm
Quote
of other interest to us Jean Todt is t beccome president of the FiA
What an absolute joke >:( >:(
Title: Re: F1 - Donington - may not be
Post by: Andy Zarse on October 23, 2009, 05:44:24 pm
Irrespective of our thoughts about F1 another piece of history will become just memories.
Peter, at great personal risk of appearing pedant-like, surely the point about history is that it is memories? ;)
Title: Re: F1 - Donington - may not be
Post by: Andy Zarse on October 23, 2009, 05:45:29 pm
...It's just that no one ever told Donnington.
Gary, lots of people told them, it's just that they chose not to listen. :(
Title: Re: F1 - Donington - may not be
Post by: Barry on October 23, 2009, 05:52:51 pm
...It's just that no one ever told Donnington.
Gary, lots of people told them, it's just that they chose not to listen. :(
They have been well and truely stiched up by the Poison Dwarf, being used as a pawn in the PD's long running battle/dislike of the BRDC. And as Andy says, a lot of people said they would.
Lets just hope they haven't done to much work to the track for F1, and ruined it for every other form of motorsport, especially the bikes.
Title: Re: F1 - Donington - may not be
Post by: Andy Zarse on October 23, 2009, 06:34:57 pm
Irrespective of our thoughts about F1 another piece of history will become just memories.
Peter, at great personal risk of appearing pedant-like, surely the point about history is that it is memories? ;)
darn, another rouse seen through ;D But seriously, if we loose Silverstone it will only be memories of 2009 and before, no more memrories from then onwards, if you see what I mean ;)
So what you're saying is that there'll be no future memories, and we'll be stuck with the old pre-09 ones! ;D
Title: Re: F1 - Donington - may not be
Post by: Nordic on October 30, 2009, 01:33:11 pm
At least Mandy and Bernie have something in common, both egotistical maniacs and Bernie does have 'history' with the labour party!
Title: Re: F1 - Donington - may not be
Post by: Nordic on November 01, 2009, 06:29:11 pm
http://www.bikesportnews.com/articles/article.html?id=TOM_WHEATCROFT_HAS_DIED_1
More bad news for Donnington, and motorsport in general.
More bad news for Donnington, and motorsport in general.
Title: Re: F1 - Donington - may not be
Post by: Nordic on November 20, 2009, 12:15:18 pm
Donington operator enters administration
Donington Ventures Leisure Limited (DVLL), the operator and leaseholder of Donington Park motor racing venue near Kegworth, Leicestershire, has gone into administration.
The circuit was recently stripped of the right to stage the British Formula One Grand Prix in 2010 after the company failed in a bid to raise £135m to fund a major revamp in preparation for the event.
Construction work has already started on the scheme, which is set to include rebuilding the paddock and pit complex to allow for a three-mile extension of the race track, designed by Formula One circuit architect, Hermann Tilke
Nigel Price, John Kelly and James Martin - partners at the Birmingham office of Begbies Traynor - have now been appointed to oversee the DVLL's affairs, and are confident that Formula One could still be staged at Donington Park.
Price said: "This need not be the end of Formula One racing at Donington. We are certainly hopeful that a 2011 Grand Prix could take place at the site.
"We are looking for a purchaser for the business and the potential opportunity to bring Formula One to this part of the Midlands by funding the work that needs to be carried out to the circuit."
Price added that Begbies Traynor were still examining how much is owed to DVLL's creditors.
Price said: "This need not be the end of Formula One racing at Donington. We are certainly hopeful that a 2011 Grand Prix could take place at the site.
I think he find it does!
Donington Ventures Leisure Limited (DVLL), the operator and leaseholder of Donington Park motor racing venue near Kegworth, Leicestershire, has gone into administration.
The circuit was recently stripped of the right to stage the British Formula One Grand Prix in 2010 after the company failed in a bid to raise £135m to fund a major revamp in preparation for the event.
Construction work has already started on the scheme, which is set to include rebuilding the paddock and pit complex to allow for a three-mile extension of the race track, designed by Formula One circuit architect, Hermann Tilke
Nigel Price, John Kelly and James Martin - partners at the Birmingham office of Begbies Traynor - have now been appointed to oversee the DVLL's affairs, and are confident that Formula One could still be staged at Donington Park.
Price said: "This need not be the end of Formula One racing at Donington. We are certainly hopeful that a 2011 Grand Prix could take place at the site.
"We are looking for a purchaser for the business and the potential opportunity to bring Formula One to this part of the Midlands by funding the work that needs to be carried out to the circuit."
Price added that Begbies Traynor were still examining how much is owed to DVLL's creditors.
Price said: "This need not be the end of Formula One racing at Donington. We are certainly hopeful that a 2011 Grand Prix could take place at the site.
I think he find it does!
Title: Re: F1 - Donington - may not be
Post by: nopanic - neil on December 06, 2009, 12:46:46 pm
Silverstone officials will hold a news conference on Monday amid reports a deal has been struck for the venue to host next year's British Grand Prix.
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8397777.stm
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8397777.stm
Title: Re: F1 - Donington - may not be
Post by: Paddy_NL on December 06, 2009, 06:06:23 pm
...and in the mean time one of the best, historical raceing circuits has been demolished. Just one more reason to dislike mr Ecklestone.
My best memory is LMS 2006, awesome year!!
My best memory is LMS 2006, awesome year!!
Title: Re: F1 - Donington - may not be
Post by: jpchenet on December 06, 2009, 09:13:37 pm
...and in the mean time one of the best, historical raceing circuits has been demolished. Just one more reason to dislike mr Ecklestone.
My best memory is LMS 2006, awesome year!!
My best memory is LMS 2006, awesome year!!
It certainly was!!
Great circuit, great fun with friends (despite crap weather), Draught Beer/Cooler/Generator trackside! :)
Dark Warrior has particularly good memories of it!! ;D
Title: Re: F1 - Donington - may not be
Post by: Fran on December 06, 2009, 10:33:17 pm
Hmmmm.. wasnt that the time when I got to Donny and realised I had left everything I needed (wallet included) at home and had to drive back to Manchester?
::)
::)
Title: Re: F1 - Donington - may not be
Post by: Lorry on December 06, 2009, 11:08:14 pm
...and in the mean time one of the best, historical raceing circuits has been demolished. Just one more reason to dislike mr Ecklestone.
My best memory is LMS 2006, awesome year!!
I don't remember you, but I can't remember much anyway. If I'd have known I'd have popped by, as my lot didn't turn upMy best memory is LMS 2006, awesome year!!
It was amazing being allowed to drive around the place and view from so many vantage points
Title: Re: F1 - Donington - may not be
Post by: jpchenet on December 07, 2009, 01:33:36 pm
Hmmmm.. wasnt that the time when I got to Donny and realised I had left everything I needed (wallet included) at home and had to drive back to Manchester?
::)
::)
I wasn't going to mention it!!! ::)
Title: Re: F1 - Donington - may not be
Post by: Fran on December 07, 2009, 02:02:50 pm
Hmmmm.. wasnt that the time when I got to Donny and realised I had left everything I needed (wallet included) at home and had to drive back to Manchester?
I wasn't going to mention it!!! ::)I can't quite recall the occasion, but I believe that I had quite a severe hangover that day which might have had something to do with the whole sorry situation!
F
Title: Re: F1 - Donington - may not be
Post by: nopanic - neil on December 08, 2009, 10:43:40 am
http://www.telegraph.co.uk/sport/motorsport/formulaone/f1news/6758752/British-Grand-Prix-could-have-moved-to-Europe-says-F1-chief-Bernie-Ecclestone.html
good read, sick bags ready at the end of the article. :-X
and if you read the BBC report, poor old Berni, has only got £12m per race and only an increase of 5% instead of the normal 7% per year.
sh*t - wish I had a business that gave me £12 million p.a and an agreed 5% increase each year for the next 17 years!!!!! (and thats just one circuit!!!!!! :o )
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8397777.stm
good read, sick bags ready at the end of the article. :-X
and if you read the BBC report, poor old Berni, has only got £12m per race and only an increase of 5% instead of the normal 7% per year.
sh*t - wish I had a business that gave me £12 million p.a and an agreed 5% increase each year for the next 17 years!!!!! (and thats just one circuit!!!!!! :o )
http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/8397777.stm
Title: Re: F1 - Donington - may not be
Post by: chop456 on December 08, 2009, 11:27:28 am
If it's any consolation, I'd wager he won't be the one collecting for the whole length of the contract. :angel:
Title: Re: F1 - Donington - may not be
Post by: Andy Zarse on December 08, 2009, 01:10:57 pm
And as a sad footnote to the whole sorry saga, it looks like the end of racing at Donny. No more top level curcuit for the clubman, nice as Cadwell and Snetterton etc are, they don't have the "big track" feel of Donington. Still, as long as you all "make a fortune" Bernie, that's all that matters isn't it? :(
http://www.telegraph.co.uk/sport/motorsport/formulaone/6751401/Donington-Parks-motor-racing-future-in-doubt-as-Silverstone-saves-British-Grand-Prix.html
http://www.telegraph.co.uk/sport/motorsport/formulaone/6751401/Donington-Parks-motor-racing-future-in-doubt-as-Silverstone-saves-British-Grand-Prix.html
Title: Re: F1 - Donington - may not be
Post by: Nordic on December 08, 2009, 01:48:30 pm
property-developing backer Paul White
It will all be houses by the end of the next decade!
Maybe, Palmer or the BRDC will step in and pick it up and save it, but it would be hard for anyone else to take it on as the circuit needs millions spending on it to put it right now.
A sad footnote is that the meusum has been shut, the collection belongs to the Wheatcroft family, but the lease included the buildings its housed in.
It will all be houses by the end of the next decade!
Maybe, Palmer or the BRDC will step in and pick it up and save it, but it would be hard for anyone else to take it on as the circuit needs millions spending on it to put it right now.
A sad footnote is that the meusum has been shut, the collection belongs to the Wheatcroft family, but the lease included the buildings its housed in.
Title: Re: F1 - Donington - may not be
Post by: Rhino on December 08, 2009, 04:05:14 pm
Not all gloom for Donnington
http://www.totalf1.com/full_story/view/326808/Donington_hoping_to_sell_circuit_lease/
http://www.totalf1.com/full_story/view/326808/Donington_hoping_to_sell_circuit_lease/
