F1 » Donington F1 failure 'a tragedy', laments BRDC vice-president

How true.

How sad, also, that Tom Wheatcroft should have died, with his work so butchered.

What a absolute crock of crap ! this is the circuit that just happend to release the " profit " figures when donington investors were on site.
This is a sad time for donington on many fronts and this is just a excuse to gloat.
These idiots need to remember that F1 is not in the bag for them yet ! no funds, and no interest from financial quarters either.
Sometimes peaple shut just keep quiet and go about there business !!

I fail to see how the death of Tom wheatcroft holds any relevance to this story!

Silverstone's accounts fall due at the end of September (according to Companies House, whilst Doningtons accounts are due 31st October and are as of today overdue.

It is therefore consistant with 2006 and 2007 when they released their figures in October of that year.

Whilst the timing was unfortunate it also showed the true profits available in F1 race promotion.

Before you condemn Silverstone I suggest you read DVL prospectus for their bond issue. It roundly condemned their own plans, hence the failure of the bond and exposes the gaping holes in their business model.

As you state the accounts are due end sept, not the 3rd week of october and 2 days before doningtons closure date !
And as a matter of fact there was more than enough financial interest but another track soon put paid to that !
I was quite happy to stand up and admit defeat but i find it deplorable to use the passing of a great man to help with gloating, there is a thread to post respects so USE IT and do not use it as another excuse to dig at donington or disguise silverstones own failings.

Mudplugger: it was Donington's own incompetence that put paid to their ambitions, not the credit crunch, not Silverstone and not the fans.

I do not gloat and I take no pleasure from the failure.

There was no enough interest from investers, the grading of the bond as CCC+ at the issue killed it.

The simple fact of the matter is that blaming everyone else for the failure of the plans shows a weakness of mind.

The plans were not good enough and the finances were from cloud cuckoo land.

The tragic (though not unexpected) passing of Mr Wheatcroft has nothing to do with Mr Gillett's failings and I agree it is very wrong to link it with the commercial disaster that is Donington Park.

I didn't see Tim Parnell mention Tom Wheatcroft and I believe Morgan Rees was trying to say it was sad that Tom Wheatcroft died when Donnington had lost the bit to host the Grand Prix, and with the circuit in a mess - and not that he was in any way responsible for that.

It was a perfectly valid comment in my opinion.

Mudplugger

It is 100% right that the Silverstone announcement is not the cause of Donington's failure, but the fact that Gillett didn't anticipate the Silverstone "profit" declaration says it all.

He obviously is not as savvy as he would have us all believe, and clearly does not have the business accumen at this level.

The guy's a blagger plain and simple, he ought to write a book on it!

Maybe he should have gone on Dragon's Den for investment!!!

It is a real shame that Donington didn't work out. It is a far better circuit than Silverstone and would have produced a good race. Hopefully Silverstone won't sign up and we will be spared the British GP being held at a dire circuit.

Bernie Ecclestone

Anyone think he's at fault for the current state of affairs you guys are facing with having an F1 GP this year or next.

Did it make any sense for him to sign a 17 year deal with something that was pie in the sky or drawing board only material ?
Doesn't make much sense in the current economic climate
Maybe that had more to do with whatever issues he was having with Silverstone so he just said no to silverstone in quite a big way
Surely he has egg on his face for that.

Donington Park
If hosting the British F1 GP couldn't attract the sponsors then who's going to invest in rebuilding the current building site into what it was ?
It can't host anything in present conditon