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Saturday, 15 December, 2018

Towcester attracts 25 potential buyers with aim to complete sale next month

Towcester racecourse went into administration in August
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Towcester racecourse's administrator KPMG revealed on Tuesday that 25 potential buyers had shown an interest in the track and it was hoped a sale could be concluded next month.

KPMG also said it was working with the BHA over Towcester's forthcoming fixtures, with what would have been its opening meeting of the season on October 10 being transferred to Southwell.

However, the administrators said their aim was for the sale to be completed in time for the November 29 fixture to be held at Towcester.

KPMG partner and joint-administrator Mark Orton said: "We’re pleased the jump fixture on October 10 is now able to go ahead and we will continue to work with the BHA to enable the sale of ten further upcoming fixtures at Towcester racecourse.

"There has been a strong response from the market, with 25 interested parties to date, and we're now in the process of working through these.

The crowd for the Star Sports Derby soaks up the June sunshine
"Indicative offers are being sought in late September and we hope to conclude the sale process in October to allow sufficient time for the November 29 jump fixture to be held at Towcester racecourse."

It was announced in August that the course, which stages horse and greyhound racing – including that sport's premier event, the Star Sports Derby – was in trouble and was to be placed in administration. A total of 134 staff have been made redundant.

While it is understood the administrator's ultimate aim is to sell all parts of the Towcester racecourse business as a whole, should a buyer not be found it could sell off the horseracing fixtures separately.

The BHA said it would continue to work with KPMG over the remaining fixtures at the track.

BHA head of racing Paul Johnson said: "The BHA has approved the transfer of Towcester's October 10 fixture to Southwell.

"We remain in communication with the administrators in charge of Towcester regarding the racecourse's remaining fixtures in 2018 and the longer-term status of the course, and will provide further updates in due course."


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We’re pleased the jump fixture on October 10 is now able to go ahead at Southwell and we will continue to work with the BHA

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