The future of the Ulster Grand Prix has been thrown into fresh doubt after it was issued a winding up order just a week after organisers were forced to cancel the 2020 event.
The Dundrod and District club, which was already struggling having amassed almost £300,000 of debt, will be forced into liquidation as a result.
In November 2019 the club announced a ‘huge loss of income’ after smaller than anticipated crowds at last year’s race attributed to inclement weather conditions left it with a significant shortfall in funding.
In February 2020 it continued to emphasise a ‘critical situation remains’, with the event on the verge of being cancelled for this year if the talks with politicians didn’t yield the financial support needed to keep it going.
However, this was all before the onset of the COVID-19 coronavirus pandemic become a global issue, with organisers forced to follow in the footsteps of other major road races – including the Isle of Man TT – in cancelling the 2020 event anyway.
Now a winding up order has been issued by Land and Property Services, leaving the club with the difficult decision over whether to battle on and secure funding at a difficult time for the economy, pay its debts or fold altogether.
According to the BBC, the club had been working hard to secure funding from a number of political sources, including councillors, Westminster MPs, MLAs and government officials in the Northern Ireland Assembly, but the cancellation brought about by the coronavirus is a major blow to landing it.
Dubbed ‘The World’s Fastest Road Race’, last year Peter Hickman set a new lap record speed of 136.415mph at the Dundrod circuit.
