Dundrod Club enters into CVA with creditors and targets 2022 Ulster GP return
The Dundrod and District Motorcycle Club says it remains committed to running the Ulster Grand Prix in 2022 after entering into a Company Voluntary Arrangement (CVA) with its creditors.
The historic road race did not go ahead in 2020 due to debts in the region of £300,000 and the impact of the coronavirus pandemic. The UGP will also not take place this year.
However, a statement released on behalf of the club said: “Since the flag dropped on the last running of the Ulster Grand Prix race in August 2019, the organisers of the event, the Dundrod and District Motorcycle Club, have been working to resolve the financial difficulties suffered during that season.
“The effect of coronavirus and the restrictions aimed at controlling the pandemic have hindered the process but significant progress has now been made with the Dundrod and District Motorcycle Club Limited entering a Company Voluntary Arrangement with its creditors.
“The Club would like to thank everyone involved for their understanding of the circumstances that led to the event’s unprecedented financial difficulties and their co-operation in helping resolve this difficult situation.”
The statement added that discussions have already taken place with ‘public and commercial groups’ around resurrecting the event in 2022, when the race is set to mark its centenary.
It continued: “The financial problems, plus the effects of Coronavirus, meant the race did not take place in 2020 and the event will not happen during this year either.
“Despite these setbacks, the Dundrod club remains committed to resurrecting the event. Conversations have already taken place with public and commercial groups who share a similar aim and more discussions are planned.
“This work will continue throughout the coming months in the hope of celebrating the centenary of the world‘s fastest road race with a return to action at Dundrod in 2022.”
Peter Hickman dominated with a record seven wins from seven starts in 2019 and also established the Ulster Grand Prix as the world’s fastest road race once again, lapping the 7.4-mile course at 136.415mph.