Has the Taupo Race Circuit been sold?

[Just Do It!]

No, I was simply clarifying that I had no connection with Bayley's on the matter as a potential accusation was floated that I must have inside information which is not the case.

In those two statements that you quoted, one involves the tendering process and one does not. Nothing was changed, it's merely your interpretation.

[pukekoheracer]

Originally Posted by Just Do It!

No inside information from Bayleys whatsoever - They're one of the most ethical around.

For tenders to be relevant, firstly a tender must be received. Whether that has happened or not, who knows.

4pm Today is the Deadline. Doubt the Directors of Taupo Circuit will be Sharing any detail on here.

[The Realist]

Originally Posted by pukekoheracer

4pm Today is the Deadline. Doubt the Directors of Taupo Circuit will be Sharing any detail on here.

I think the deadline has been and gone, and from what I hear, it is business as usual as no one wanted to buy it. Hope the track continues to operate as we can't afford to loose the facility. Many of these type of tracks are closing down around the world as they are uneconomic.

[Mark Petch]

Originally Posted by pukekoheracer

4pm Today is the Deadline. Doubt the Directors of Taupo Circuit will be Sharing any detail on here.

Here is the media release, 'hot off the press'
I am told that the new board completed the subdivision of the business park in little more than 3 months and have sold off the majority of the units, which allowed them to discharge the entire Bank debt. Apparently the Taupo Council loan still has a further 14 years to run, and as such the Taupo Circuit has no outstanding debt and is cash flow positive.

“Taupo Motorsport Park sale is off”

The Directors of TMP, the company that owns and operates the Taupo Motorsport Park have announced that the recent international tender to sell the park and business did not reach a level to satisfy the company’s objectives.
While the track, the only FIA Grade Two track in New Zealand, is highly regarded by the motorsport fraternity, TMP had experienced difficult trading times in recent years largely due to the economic climate which has affected motorsport. Taupo was not the only track in New Zealand to face such a challenge.
“Several tenders were received. However post-tender negotiations failed to achieve a price which reflected the value of the complex” said TMP Director Chris Abbott.
Abbott, part of a new Board elected in February and entrusted with the job of finding a solution to the track’s future said “While we were going through the tender process we looked at several other propositions. We have re-structured the business from the ground up. This has been largely made possible through an injection of bridging capital to assist with unit titling the track’s adjoining business park.”
“With a number of business park sales already completed, this has allowed for a stable financial future and we are now looking at new management and marketing strategies”.
A significant element of the future involves the invitation of Richard Izard CNZM OBE, a member of the New Zealand Business Hall of Fame to join the board as Chairman. Richard has not only had a lifelong interest in motorsport having raced competitively in this country and in Europe, he is also a significant TMP shareholder and brings with him a wealth of New Zealand and international business experience along with his personal contacts in the motor industry and in motorsport.
“In fact today’s announcement has been largely due to Richard’s recent involvement which no doubt will be to the delight of TMP’s shareholders and to the Taupo district because of
the significant economic benefit derived from the many thousands of visitors to the district who use the track each year” says Abbott.
“While there will only be subtle changes to operations in the immediate future, the management team have ideas of improved and expanded offerings in mind.”
“Taupo is a natural destination for visitors to the region and we see further development of the facility as being an obvious part of the growth of the area, which is something Richard is passionate about” says Abbott.

[mikuni]

That sounds like a great result for everyone involved.

[pukekoheracer]

Originally Posted by Mark Petch

Here is the media release, 'hot off the press'
I am told that the new board completed the subdivision of the business park in little more than 3 months and have sold off the majority of the units, which allowed them to discharge the entire Bank debt. Apparently the Taupo Council loan still has a further 14 years to run, and as such the Taupo Circuit has no outstanding debt and is cash flow positive.

“Taupo Motorsport Park sale is off”

The Directors of TMP, the company that owns and operates the Taupo Motorsport Park have announced that the recent international tender to sell the park and business did not reach a level to satisfy the company’s objectives.
While the track, the only FIA Grade Two track in New Zealand, is highly regarded by the motorsport fraternity, TMP had experienced difficult trading times in recent years largely due to the economic climate which has affected motorsport. Taupo was not the only track in New Zealand to face such a challenge.
“Several tenders were received. However post-tender negotiations failed to achieve a price which reflected the value of the complex” said TMP Director Chris Abbott.
Abbott, part of a new Board elected in February and entrusted with the job of finding a solution to the track’s future said “While we were going through the tender process we looked at several other propositions. We have re-structured the business from the ground up. This has been largely made possible through an injection of bridging capital to assist with unit titling the track’s adjoining business park.”
“With a number of business park sales already completed, this has allowed for a stable financial future and we are now looking at new management and marketing strategies”.
A significant element of the future involves the invitation of Richard Izard CNZM OBE, a member of the New Zealand Business Hall of Fame to join the board as Chairman. Richard has not only had a lifelong interest in motorsport having raced competitively in this country and in Europe, he is also a significant TMP shareholder and brings with him a wealth of New Zealand and international business experience along with his personal contacts in the motor industry and in motorsport.
“In fact today’s announcement has been largely due to Richard’s recent involvement which no doubt will be to the delight of TMP’s shareholders and to the Taupo district because of
the significant economic benefit derived from the many thousands of visitors to the district who use the track each year” says Abbott.
“While there will only be subtle changes to operations in the immediate future, the management team have ideas of improved and expanded offerings in mind.”
“Taupo is a natural destination for visitors to the region and we see further development of the facility as being an obvious part of the growth of the area, which is something Richard is passionate about” says Abbott.

Sounds like the new board has done a fair bit over the last few months indeed

[Goat Boy]

Nice one, two bits of good news in the past month then.

[Mark Petch]

Originally Posted by Goat Boy

Nice one, two bits of good news in the past month then.

Hi GB,

I agree, because we do need a truly independent quality Motor Racing circuit, in the North Island and all the though Taupo has its critic's, it still has by far the best competitor facilities in New Zealand, excellent garages, clean toilet's and even hot shower facilities!

Its also pretty much slap bang in the middle of the island, so its similar traveling times from both the Wellington and Auckland area, and only a couple of hours from the east coast etc. There is also heaps of affordable accommodation, because of all the vacant holiday homes.

Taupo has a lot going for it, and will keep the other circuits in line in terms of quality and affordable track hire, as both Hampton Downs, which is about to get a moderate increase in track hire and Puke are already expensive to hire if you want quality time on track.

So thanks to Chris Abbott and his wife Linda, who single handily rallied the apathetic shareholders, got rid of the rot, put their own money, plus hundreds of unpaid hours into restructuring the company etc, there is now new life in the old girl!

MSNZ, should give Chris Abbott a Commendation, but it wont under the present regime, so thats the next thing that needs restructuring at least in my opinion.

Cheers, Mark.

[drftin]

Originally Posted by Mark Petch

MSNZ, should give Chris Abbott a Commendation, but it wont under the present regime, so thats the next thing that needs restructuring at least in my opinion.

Really you had to go there? You know there are big changes coming. Didn't see you at the AGCM putting in your suggestions...
Didn't want to ruin this promising thread with my first post sorry but couldn't let that go un commented on.

I loved Taupo the one time i've been there so i hope these changes lead to good things

[mountainstar]

Well good for them that they got it all figured out and settled. I like the Taupo area and the track itself, so it's great to hear there is a future for the place after all.

[Kiwi race fan]

Originally Posted by Mark Petch

MSNZ, should give Chris Abbott a Commendation, but it wont under the present regime

I agree that this is all good news about the circuit, but a commendation for Abbott?

I think there are far more deserving people who do a magnitude of work below the surface of Motorsport, for the benefit of many and with absolutely no personal benefit that deserve such an award far more!

[Goat Boy]

Are you Martin Fine then? Or maybe Shayne Harris?

[Mark Petch]

Originally Posted by Kiwi race fan

I agree that this is all good news about the circuit, but a commendation for Abbott?

I think there are far more deserving people who do a magnitude of work below the surface of Motorsport, for the benefit of many and with absolutely no personal benefit that deserve such an award far more!

Here a question for you, in 1996 who spent 100's of unpaid hours re-writing the entire NZ Motorsport rules and regulation's?

If you didn't know the answer I am sure you will have guessed.

Here is another question for you. Who was the principal individual that was responsible for the building and funding of the current Taupo race track.

Again if you didn't know you do know now.

Who was responsible for putting together, organizing etc the Liquor King 500 that lead to the ultra successful NZV8 class underpinning New Zealand premier racing for almost a decade.

I guess you must know all the answers now?

So, more deserving people? Care to name them, and list what they have done for NZMS?

[Goat Boy]

I think Kiwiracefan has her nose out of joint because of Chris' involvement with the ST group and subsequent legal action against MSNZ, who let's face it brought it on themselves!

[GT 86]

Originally Posted by Goat Boy

Are you Martin Fine then? Or maybe Shayne Harris?

Perhaps its Geoff Short. All the old burglar's appear to be coming back into the sport and pumping their chests recently, Short with Toyota and Fine in Rallying, both upsetting people along the way. Wonder why?

[Goat Boy]

Like a bad penny, eh?

[bluespur]

Know the Short involvement, really thought Toyota had more sense. Understand he has given commitment of 15 cars minimum at first round. That will be an achievement.

But Fine?.

[pukekoheracer]

Originally Posted by Mark Petch

Here a question for you, in 1996 who spent 100's of unpaid hours re-writing the entire NZ Motorsport rules and regulation's?

If you didn't know the answer I am sure you will have guessed.

Here is another question for you. Who was the principal individual that was responsible for the building and funding of the current Taupo race track.

Again if you didn't know you do know now.

Who was responsible for putting together, organizing etc the Liquor King 500 that lead to the ultra successful NZV8 class underpinning New Zealand premier racing for almost a decade.

I guess you must know all the answers now?

So, more deserving people? Care to name them, and list what they have done for NZMS?

And To Add to the list, Pretty involved in bringing AIGP to NZ and way back the Cellent FF Series in 1994.

[GT 86]

Originally Posted by bluespur

Know the Short involvement, really thought Toyota had more sense. Understand he has given commitment of 15 cars minimum at first round. That will be an achievement.

But Fine?.

15 cars will be an achievement. I know of someone who will probably be on the grid if they are running short initials MS, always a good field filler compliments of Geoff.

I did hear that there was an offer on the table from the other 86 cars built by Grant Aitken (21 of them in total built) to run off the back of the TRS grid, same cars lower spec and a few seconds slower than the TRS cars. Would make the grid look a lot better and benefit two levels of drivers but that's probably a bit too much common sense attached to that idea

[Goat Boy]

I would say instrumental in bringing A1GP to NZ in fact.

What happened to all the old shape TRS cars? Probably the wrong thread for this discussion but anyway...

[pukekoheracer]

Originally Posted by Goat Boy

I would say instrumental in bringing A1GP to NZ in fact.

What happened to all the old shape TRS cars? Probably the wrong thread for this discussion but anyway...

I thought they went to Japan and a Driving School, but relying on what somebody Told me.

[pukekoheracer]

Originally Posted by Goat Boy

I think Kiwiracefan has her nose out of joint because of Chris' involvement with the ST group and subsequent legal action against MSNZ, who let's face it brought it on themselves!

Kiwiracefan, is more like selfinterestfan

[Goat Boy]

Originally Posted by pukekoheracer

Kiwiracefan, is more like selfinterestfan

Ain't that the truth - which makes me think he's affiliated with MSNZ somewhere...

[Mark Petch]

Originally Posted by Goat Boy

Ain't that the truth - which makes me think he's affiliated with MSNZ somewhere...

Hi GB,

You are right about Chris being instrumental in getting the A1's to Taupo, he did so by persuading Colin Giltrap that he could deliver the circuit, as long as Colin could deliver the "circus", and that happened thanks largely to Chris Abbott and the Giltrap family.

As for Kiwiracefan,he/she seems to have gone to ground since his/her attack of verbal diarrhoea.

There are no doubt many people that have worked tirelessly in the interest of Motorsport, but none more so than Chris Abbott. If people disagree they should either put up or shut, come to think of it maybe thats just what Kiwiracefan has decided to do and very sensible to at least in my opinion.

Cheers,

Mark.

[Kiwi race fan]

Originally Posted by Goat Boy

Are you Martin Fine then? Or maybe Shayne Harris?

No, far from it. Not sure why you all fear that any new poster who doesn't agree with your views is a MSNZ insider or spy

Originally Posted by Mark Petch

Here a question for you, in 1996 who spent 100's of unpaid hours re-writing the entire NZ Motorsport rules and regulation's?

Originally Posted by Mark Petch

Who was responsible for putting together, organizing etc the Liquor King 500

Mark, this isn’t 1996!!!
But I’m sure if he deserved a commendation from that era, then it was duely awarded

Originally Posted by Mark Petch

Here is another question for you. Who was the principal individual that was responsible for the building and funding of the current Taupo race track.

As in building & funding when it was extended? As in the whole cause of its recent near collapse? Didn’t the Taupo Council fund it? I’m not sure as I am quite new to the sport. But, like I said, I am glad that their issues have been resolved
Besides I am referring to people who contribute to the sport for NO PERSONAL FINANCIAL GAIN, although I appreciate you probably struggle with that theory

Originally Posted by Goat Boy

I think Kiwiracefan has her nose out of joint because of Chris' involvement with the ST group and subsequent legal action against MSNZ, who let's face it brought it on themselves!

Yes Goat Bay, everytime I write a cheque for my entry fee I see the levy that MSNZ have had to bestow upon us so that these fat cats can further feather their nests from the sport I am trying to compete in. And by all accounts it hasn't finished yet

Originally Posted by Mark Petch

As for Kiwiracefan,he/she seems to have gone to ground since his/her attack of verbal diarrhoea.

There are no doubt many people that have worked tirelessly in the interest of Motorsport, but none more so than Chris Abbott. If people disagree they should either put up or shut, come to think of it maybe that’s just what Kiwiracefan has decided to do and very sensible to at least in my opinion.

No I haven’t gone to ground, just have better things to do than spend all day on here circle jerking each other

I don’t know of anyone in motorsport that should genuinely receive a commendation at this point in time. As stated I am relatively new to motorsport but by all account there seem to be a few people who are insisting on trying to destroy Motorsport and anything that’s good in Motorsport in NZ and, Mark, you seem to be pretty well up that list if the rumors about all the actual & threatened lawsuits are true

Like my post said, I am happy that Taupo has been rescued, I am happy that it hasn’t also fallen into the Quinn empire and I hope that its financial issues can be put behind it. The sooner all this negativity and bullcrap can be laid to rest the sooner motorsport has a chance of resurrecting itself