News 24 Apr 2009

DONINGTON’S ’09 RACING UNDER THREAT

Press release:

Wheatcroft & Son Limited, the owners of Donington Park motor racing circuit, have issued legal proceedings against Donington Ventures Leisure Ltd, the operators of the circuit, seeking £2.47m in rent arrears and forfeiture of the circuit lease.

Lawyers at Browne Jacobson LLP, acting on behalf of their client Wheatcroft & Son Limited, issued the proceedings at Derby County Court earlier today (23rd April).

Wheatcroft & Son Limited awarded Donington Ventures Leisure Ltd a 150-year lease back in January 2007. Donington Park, has since been awarded a ten-year contract to host the British Grand Prix from 2010.

Kevin Wheatcroft of Wheatcroft & Son Limited said :
“It is with great reluctance that we have taken this decision. Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease. We have held off taking legal action for as long as possible but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease.”

No further comment will be made on this issue.

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