Great Leighs bids rejected
Both of the leading bids for Great Leighs have been rejected by the joint administrators of the group of companies which own and operate the track.
The UK venue has been closed since January 15 when its temporary licence expired, after which the British Horseracing Authority refused a furt her extension and administrators Deloitte were called in to sell the track.
A number of parties were said to be interested in acquiring the all-weather course but the sale process has so far been unsuccessful.
“Unfortunately neither of the offers were able to demonstrate sufficient financial support for us to recommend acceptance to the creditors,” said Carlton Siddle, joint administrator and Deloitte partner.
“We have confirmed in writing to the creditors that the two bids were inadequate and have been rejected.”
The administrators also confirmed they have entered discussions with the track’s main creditor, the Royal Bank of Scotland, to investigate whether it could take ownership of the course in conjunction with a suitable racing operator.
As part of this process, racecourse operators have been asked to submit bids to run the course.
Siddle added: “Negotiations are at an early stage and we continue to liaise with the BHA regarding the relevant licensing requirements and application procedure that will be needed before racing can return to Great Leighs.
“We are aware of the forthcoming negotiations for 2010 fixtures and are fully focused on working to ensure Great Leighs participates fully in this process.”
