Arlington stadium

[Sir Sidney]

News from Spedeworth that it has been given immediate notice that no further meetings can take place

 

https://spedeworth.co.uk/news2.php?id=4549

 

 

[tonyd]

To me seeing that post does not give me good vibes about the future of the stadium, to evict a long term regular income from the stadium there must be thoughts about its future going in a different direction. 😡

[Ray Stadia]

I wonder why Spedeworth haven't protected themselves with a lease/notice arrangement. To be running meetings with the possibility of being licked out at any time, doesn't make good business sense to me? 🤔

[M.D]

It wasn't the Dugard's on this one..

[Racin Jason 72]

58 minutes ago, M.D said:

It wasn't the Dugard's on this one..

Is this to do with a incident at a stock meeting and possibly litigation?

[M.D]

3 minutes ago, Racin Jason 72 said:

Is this to do with a incident at a stock meeting and possibly litigation?

I don't know anything about that, but no

[Marky_Mark]

Best news would be if Spedeworth buy the stadium as they seem friendly towards speedway at other venues, Mildenhall, Northampton etc 

[SteveArena]

I bet they are selling the stadium for housing.

[Marky_Mark]

I did read that it can’t be sold for housing as the site is too contaminated, not sure how true that is 

[Hackett]

🏘️🏘️🏘️ = 💰💰💰💰💰

Comes as no great surprise once the gates closed on the speedway team and the venue become a one sport stadium, that the next step would be property development or planning permission. Such a shame as the speedway track has great memories for my family and kids BUT since Ian Jordan left the Eagles high and dry this was inevitable just a case of when. 

Dugard Corner , Norris Way , Kennett Court, Richardson Road.     

 

 

 

[marko]

8 hours ago, Marky_Mark said:

I did read that it can’t be sold for housing as the site is too contaminated, not sure how true that is 

They said that about Arena Essex and eight years later the site remains untouched, for sure it will take an enormous amount of ground work if they are to build anything on it.

[HGould]

It is very sad news that another Stadium seems to be lost and the Eagles and Brummies had great rivalries in the 70's parts of the 80's and also in NDL around a decade ago, and I always felt both were forced in to the CL in 2018 with little thought as to how they may survive.

The speed and nature of this announcement though clearly has nothing at all to do with Speedway recent past or more distant past.

Spedeworth would have the funding and knowledge to have continued until at least the end of their season and it's completely illogical  link the speed of closure in any way to Housing. I don't buy the contaminated land issue though and Housing might be the ultimate reason as it's clear Housing is needed nationally and locally and if the uber contaminaed old Birmingham Wheels Site can de de contaminated I'm sure a rural bit of East Sussex would be a piece of cake for a significant investor.

Dear old Peter Mason who knew the Stadium and area very well told me he and David had been offered a lease several times and he would not touch it with a barge pole. Too many good Promoters had lost fortunes there in the past and Bob always had to go to his dad / brothers and get a 30-50k hand out at the end of every season to cover losses. It was a bit of a family toy for as long as Bob was alive he used to say. 

Whilst rumours abound and it's certainly a family with a long history of fractures and splits Peter used to tell me, I do wonder if the speed of the decision has anything to do with the fact that parts of the Dugard Machine Tool Business has in the past year been Liquidated and/or Dissolved and a new phoenix Company with Eric Dugard been set up in the past months with no other Dugards involved. I've found an article where he comments that up to a dozen ex family shareholders are no longer part of the new phoenix Company.

Was / Is the Stadium held as a "charge" or asset by various Lenders? 

If that is the case, it may be that not only all is not lost, but that any prospective buyer may wish to re-engage Stock Cars and Speedway at some point in the future?

That may be a glimmer of hope for all.

 

 

 

 

 

 

[Hawk127]

Eastbourne Speedway Ltd shareholders include R L Dugard Will Trust  and perhaps if this is a trust then the trustees have decided to sell to realise cash for the beneficiaries of the trust or for some other reason. The latest accounts filed are a micro version and for the year ending December 2024 a provision of £350k is shown on the creditors side but given they are micro accounts it is impossible to find out what is behind this. Net worth feel from £574k to £170k but some of the reduction will be the provision. They did have what appeared to be a healthy current assets position. The suddenness of the decision is a mystery unless they are close to a deal to sell and the new owners want vacant possession and not be tied into leases etc. with a third party. In time we might find out but yes it is a shame to see another track go. Had many memories of travelling to Arlington to watch Rayleigh and more latterly Ipswich ride. 

[Son of Shaleman]

16 hours ago, M.D said:

It wasn't the Dugard's on this one..

No longer has licence?