Breaking news: Donington Park court case settled
By LJ Hutchins
Friday, June 5th, 2009
The court case between Donington Park promoter Simon Gillett and circuit owner Tom Wheatcroft has been settled just days before it was due to be heard, according to a statement on the circuit’s website.
Wheatcroft’s company had filed a case at Derby County Court suing for an alleged £2.47 million in rent arrears and the return of the lease.
But it appears the matter may now have been resolved – as well as securing the outstanding signatures required to finalise planning consent.
Catch up on the full saga here >>
Here is the circuit’s full statement, just published on its website:
Motorsport fans remained at the heart of Donington Park’s plans today as the landowner, Wheatcroft and Son Limited, and circuit leaseholder, Donington Ventures Leisure Limited (DVLL), confirmed that they have reached an agreement which they hope will move a step closer to securing the future of East Midlands’ parkland circuit Donington Park.
The settlement was reached after court proceedings were issued by Browne Jacobson LLP, acting on behalf of Wheatcroft & Son Limited, seeking £2.47m in rent arrears and forfeiture of the circuit lease.
The parties have also reached agreement on the terms of the planning agreement required for planning permission to be issued and are finalising arrangements with the Council.
These positive developments, combined with the ongoing encouragement from Formula One rights holder Bernie Ecclestone, demonstrates that DVLL is committed to pushing forward with its 2009 racing plans and 2010 Formula One preparations.
Kevin Wheatcroft of Wheatcroft & Son Limited said: “We are pleased that significant progress has been made in recent weeks and I am delighted that we have now reached an amicable agreement. We have always shared and supported the vision of ensuring that Formula One returns to Donington Park and are hopeful that, with the settlement achieved, that vision will be turned into reality.”
DVLL Chief Executive Simon Gillett added: “This is another positive boost for Donington Park. We were always aware that saving the future of the British Grand Prix was an enormous task, but it is one that we are fully committed to and will make happen. So far, all of our efforts have been achieved in the face of adversity and it’s reassuring to know that the Wheatcroft family shares our vision and passion for British motorsport.”
The settlement itself is confidential between the parties and therefore no further comment will be made in this regard.
Related posts:
- Donington Park planning permission is signed off
- British GP doomed as Wheatcroft sues Gillett for return of Donington lease?
- F1: Planners refuse to sink British GP
- F1: Ecclestone says banks no longer backing Donington
- Saudi prince visits Donington Park circuit
Read more about British Grand Prix, Donington Park, Formula One, Simon Gillett, Wheatcroft & Son.
This entry was posted on Friday, June 5th, 2009 at 10:40 am and is filed under Events, F1. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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Author: LJ Hutchins. Supports McLaren, kind of. Thinks James May gets a rough deal off the other two. Drives a Subaru Impreza but regrets its lack of bright blue paint and gold wheels. Is very nearly old enough to know better but probably never will. Is a supporter member of the BWRDC. LJ has written 1117 articles for us.
