Oops!

Guess this hasn't gone too well then?!

OK we'll start again. First up tho this is my take on the Donington fiasco. Its something i want to cover because this weekend i have 2 events i could cover - masters at Donington or 750MC at Cadwell, both of which are desperate for bodies this weekend.

The way i see it is thus. Gilletts' company was looking to fund the redevelopment thru several sources, mainly bank loans (possibly secured on future profits) and a debenture scheme. When the financial crisis hit, the banks became much more risk adverse and looked at the dono project as a risky prospect (debentures not being a particularly safe means of raising funds) and so either reduced or flatly refused to loan the cash.

This leaves Gillett stuck for cash when he needs it most. In order to get the work done he needed to start early, but contractors are notorious for ensuring smooth cashflow so any hint of non-payment will have killed the project there and then. So, without all the funds from the banks and probably working hard to increase the cash from debentures (and failing) they decided to default on the rent payment to the Wheatcroft's and use that cash to keep the contractors working. If the bank issue had been a few months delay that would have probably worked out, but it seems the issue is still there and now they are really up against it.

So now they have the same cashflow issue as several months ago, rent arrears which they are being taken to court with and no sign of the incoming cash issue resolving itself soon. Whats most frustrating tho is the fantastic shortsightedness of the construction plans which has left the circuit without a race license, and this is where all this ties in to marshalling.

To get the heavy machinery in to the circuit they had to extend the tunnel between McLeans and Coppice. They did this by seriously eroding the size of the run off area, to the point that the MSA withdrew their race license on safety grounds. Until the size of that runoff is returned to the MSA's satisfaction, they will not get that license back which means NO racing at the circuit. That not only puts promoters, teams, marshals and the public out, but it means donington looses vital money from circuit hire fees as the events are cancelled, postponed or moved to other venues such as Rockingham. Money they cannot afford to throw away.

Someone, somewhere in the planning office should be hung, drawn and quartered for not seeing that one as an issue. So this weekend it leaves me with 2 options. Currently i am promised that the masters at donington will go ahead, but in the end the people making those promises are not in the position to guarantee that. Whereas by the luck of an administration error (or the cunning plans of Mr Harding of the 750MC) i have also got tickets for Cadwell which i know for a fact will be running a full meeting and will be desperate for marshals. Do i risk a 5hr return journey to donington to have no meeting, or at least one where part of the circuit is run under permanent yellow as happened earlier this year, or go to cadwell? i have been really looking forward to the masters as there should be some cracking machinery on display, but if i'm having second thoughts then whats to say the teams aren't doing the same?

I think i'll wait until Thursday and, no matter what anyone else says, if the MSA have not announced that donington have their license back then i'll take the zero risk option and take the trip to cadwell instead.