THE LEASE for troubled motor racing circuit Donington Park is going back to its landlords, following a month-long struggle to find a new operator.
The future of the East Midlands complex is to be decided by owners Wheatcroft & Son Limited, following the news Donington Ventures Leisure Limited (DVLL) had fallen into administration earlier this year. The company held a 150-year lease on the track.
Administrator Nigel Price, a partner at business recovery specialists Begbies Traynor, said:
“We have not managed to sell the lease and we have handed it back to the landlords. Although there have been many interested parties and detailed and lengthy negotiations, ultimately it has not been possible to do a deal.”
He added: “DVLL had a 17-year contract with Formula One Administration to host the British Grand Prix round of the Formula One World Motor Racing Championship but this was finally lost at the end of November and some parties withdrew. However, there was still serious interest in the circuit as a national track, although the onerous terms of the lease meant that a deal could not be done in the relatively short timescale available to us.”
The circuit's remaining staff have now been made redundant.
