Argyle Talk Democratic

The ONLY Independent Internet Forum for Argyle Fans
 
HomeHome  RegisterRegister  Log inLog in  

Share | 
 

  Plymouth Speedway liquidated

Go down 
AuthorMessage
Tgwu

avatar

Posts : 10554
Join date : 2011-12-11
Age : 69
Location : plymouth

PostSubject: Plymouth Speedway liquidated   Tue Oct 04, 2016 8:03 pm

PLYMOUTH Speedway have this afternoon issued the following statement regarding the current situation at the Devon club.

It is with deep regret that I have to inform you that as of yesterday (Monday 3rd October) Peninsula Promotions Ltd T/A Plymouth Speedway commenced formal proceedings to liquidate the company.

The financial situation of the club has been well documented during the season. Unfortunately the necessity to liquidate has been brought about by another season of losses. In the previous three seasons the losses have been funded by the Directors & Shareholders, well in excess of a six figure sum and despite the best efforts of the “Plymouth Fanzone” raising a considerable sum of money which without, we would not have been able to complete the season.

The arrangement with the investors, and with only two meetings left, failed to finalise and the takeover was not completed. Faced with operational debts which could no longer be serviced, the decision was taken by the Directors / Shareholders to put the company into liquidation.

The Liquidators have been informed that there are interested parties wishing to put in a bid for the Track and all its fixtures, which had been created, born out of a Rugby pitch by the current and previous owner.

Speedway returned to Plymouth in 2006 after an absence of 36 years and the current period of operation of 11 years has been the longest period of continuous operation in its entire history. Hopefully this period will not be interrupted and continue in 2017.

Our thanks go to all the loyal speedway supporters of Plymouth and those that regularly travel distances exceeding distances of sixty miles and more to support Plymouth Speedway.

Ashley Taylor
Co-Promoter, Plymouth Speedway
Back to top Go down
Elias

avatar

Posts : 5116
Join date : 2011-12-05
Location : brent out

PostSubject: Re: Plymouth Speedway liquidated   Tue Oct 04, 2016 8:04 pm

Sad time.
Back to top Go down
Angry

avatar

Posts : 11122
Join date : 2013-08-16

PostSubject: Re: Plymouth Speedway liquidated   Tue Oct 04, 2016 9:53 pm

shame but it was never going to end well for them. I thought when they received a lifeline before the season thats just ended started that the promoters would do more to promote the club and attract more punters in aswell try and bring in incomes but they didnt bother certainly on the punter front so its no shock.
Back to top Go down
Tgwu

avatar

Posts : 10554
Join date : 2011-12-11
Age : 69
Location : plymouth

PostSubject: Re: Plymouth Speedway liquidated   Tue Oct 11, 2016 12:34 pm

Mike Bowden is keen on rescuing the Plymouth Devils


MIKE BOWDEN says he is still waiting to hear back from the liquidator as to how much it would cost him to save speedway in Plymouth.

Last week, the Plymouth Devils announced plans to be liquidised amid mounting debts, but former Devils promoter Bowden, the man responsible for bringing speedway back to the city after 36 years, has expressed a desire to save the stricken club.

"Nothing can really go much further until the liquidator values all the assets down there," Bowden said. "I believe he was down there on Friday with [Devils promoter] Ashley Taylor, but since then, the fire engine has gone, Seemond Stephens has taken his tractor away, so basically all that is left is the speedway track.

"I met with Ashley for two hours down at the track on Friday and I was surprised at the state that it was all in to be honest. All the air fences were stacked up in the pits and nothing has been protected shall we say.

Last week, the Plymouth Devils announced plans to be liquidised amid mounting debts, but former Devils promoter Bowden, the man responsible for bringing speedway back to the city after 36 years, has expressed a desire to save the stricken club.

Bowden said he is saddened at the plight of a club he did so much to set up and get running in 2006, but things have not really progressed since he spoke about a rescue deal last week.

"But until I hear back from the liquidator and we have figures on paper, a new lease with [St Boniface] College and an agreement with the BSPA, there is no point in spending any money to end up with no lease with the college and no agreement with BSPA."

It was believed that there were several interested parties keen on saving the club, but Bowden does not believe that is true, claiming that, to his knowledge, he is the only interested party.

"They have made noises about that, but I am led to believe that I am the only one to come forward," Bowden added.


"I am still willing to do something to help them and things have changed quite a lot in the last four years that I have been away from it."

So for now, it is a case of wait and see for fans of the Devils, with the return of Bowden seemingly the only likely outcome if racing is to continue in the city.

Things will be different, though, with Bowden already saying he will make changes to the management structure and apply to ride in the National, rather than the Premier League, a step below their current level, but certainly more financially viable.

Bowden concluded by reiterating: "I don't know when I will hear back from the liquidator. As I say, there is nothing really down there to value as far as I'm concerned except the floodlights, which cost me £7,500 brand new with all the wiring, so half that – second hand, you are talking about £3,500."

(More in the local rag)
Back to top Go down
Sponsored content




PostSubject: Re: Plymouth Speedway liquidated   

Back to top Go down
 
Plymouth Speedway liquidated
Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Argyle Talk Democratic  :: Home Park :: Half Time-
Jump to: