DONINGTON PARK SOLD TO PRIVATE CONSORTIUM MONDAY 5th February, 2007 (Castle Donington, DERBY): Donington Park Leisure Limited, operators of Britain's most historic motor racing and event venue, Donington Park, has today been sold by Live Nation...
DONINGTON PARK SOLD TO PRIVATE CONSORTIUM
MONDAY 5th February, 2007 (Castle Donington, DERBY): Donington Park Leisure Limited, operators of Britain's most historic motor racing and event venue, Donington Park, has today been sold by Live Nation (formerly Clear Channel Group) to the newly created Holding company Donington Ventures Leisure Limited (DVLL), led by founders Simon Gillett and Lee Gill.
DVLL has simultaneously acquired from Wheatcroft & Sons, substantial surrounding lands and have taken over responsibility for the 'Donington Grand Prix Collection' - the world's largest collection of Grand Prix racing cars. These acquisitions will allow the company to further develop the circuit and motor sport events but also widen the Park's appeal in leisure and entertainment.
Donington Park founder Tom Wheatcroft has agreed to join the company and will assume the role of President with immediate effect. Kevin Wheatcroft also joins the company as special advisor and brings expertise and knowledge that will help develop and promote the Donington Grand Prix Collection.
Simon Gillett (Chief Executive Officer): "We are naturally delighted and very proud to have acquired Donington Park. The circuit is steeped in motor racing heritage and has an incredibly fond place in the heart of every motor racing enthusiast whether on two or four wheels. We are absolutely committed to realising the full potential of the Park by making the necessary investments in current and future events that will see Donington revitalised ensuring its leading position as one of the most iconic racing circuits in the world. To that end and for 2007, we have created the best racing calendar for years, with two of the highlights being, the return of World Superbikes on its 20th anniversary and the holding of the World Motorcross Grand Prix."
Lee Gill (Chief Operating Officer): "Donington Park also boasts a tremendous pedigree in hosting the biggest and loudest music concert in Britain as last year's hugely successful Download Festival again proved. Our vision for the enlarged Park is to not only build on this but also over time, broaden the appeal of Donington Park as a leisure and entertainment destination for the whole family and this will be achieved in the short term, by introducing a much broader range of events and attractions throughout the year. In parallel with this, we will focus and invest in significantly improving the customer experience, by setting industry-leading standards of customer service and upgrading facilities."
In the near term, DVLL plan a series of phased developments that include improvements to the spectator facilities, expanded and enhanced corporate hospitality facilities and improvements to the exhibition and conference centres. Longer term, DVLL will explore opportunities to expand into a wide range of leisure oriented facilities and examine investments that are complementary to the expanding local area.
Tom Wheatcroft (President): "This is an exciting new chapter in the history of Donington Park. It will bring significant investment, new energy, innovative ideas and a broader and more international customer base. I am really looking forward to working with DVLL in what promises to be an exciting next chapter of this great and only active circuit in the country with a history going back over 75 years."
-credit: donington ventures