|
||||||||||
|
||||||||||
5 Aug 2008, 10:34 (Ref:2263683) | #1 | ||
Llama Assassin and Sheep Botherer
Veteran
Join Date: Sep 2002
Posts: 4,212
|
Taupo A1GP Future Looks Doubtful.....
Taupo has only a 50-50 chance of hosting the A1GP after 2009, Taupo Motorsport Park shareholders have been told.
At their annual meeting yesterday, shareholders were told the internationally rated track was $6 million in debt and there was no assurance the "marquee" A1GP round would be held there in 2010. He said four factors contributed to the loss. A public share offer had not raised as much as the company had predicted and had cost $337,000; there was a $1.3 million 'blowout' - later funded by debt - to finish the final stage of the track in time for the A1GP; depreciation was $260,000, and increased interest rates added an extra $315,000 to loan repayments. The biggest debt was a $5,957,000 term deposit loan from ANZ Bank. http://www.stuff.co.nz/4643179a1823.html Not looking rosy for A1 at Taupo or even in NZ.$6mill isnt a huge amount overseas but the Taupo guys must really be struggling with a monkey like that on thier back.Hopefully someone will throw them a lifeline. |
||
|
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
The Taupo thread | Shelagh | A1GP | 109 | 7 Feb 2008 19:56 |
Taupo | Kiwi3 | A1GP | 76 | 31 Jan 2007 07:37 |
A1GP Taupo | Armco Bender | Trackside | 1 | 14 Jan 2007 04:43 |