Hampton Downs officially in trouble

[steveyb]

Just heard on the sports news that HD owners have officially gone to the market seeking investors to secure the longterm future of the facility.
That means that financially it is in trouble and they cannot secure the facility through revenues from operations, at least not with the current debt levels.
So any investments will likely be used to retire (some) debt first and continuing development second. Having to repair/relay the circuit certainly won't help.

Anyone out there keen to own a piece of HD?
Get in touch with the owners.

Best of luck to them. I would think some international motorsport interests might get interested.

[Str8 Jacket]

Link to story in stuff:
http://www.stuff.co.nz/sport/motorsp...her-investment

[neil_cb125t]

Race track 'theorys' that work really well:

Lets design a kick arse track with plently of options people will love it, but well only build half of it - we can finish it later...... FAIL
Oh that corner needs a reseal, ok well just patch it - it will be sweet........ FAIL
Once we have patched it well let, trucks and race cars out on it the next day.........FAIL
We'll price it up so its totally affordable for everyone to use.....hmmmmm we aint making any money, ok for national events we will triple the price and make garages more expensive than 5 star hotels in london, that will fix it.

If HD had finished the track, secured aussie V8s there that would have helped ......im guessing.

[jellywrestler]

once those coparate suites go in above the garages the place will die as they will obstruct a large part of the veiw too

[nodrog:Me]

once those coparate suites go in above the garages the place will die as they will obstruct a large part of the veiw too

Stink, you wont be able to see the portable toilets and showers anymore.

[scott411]

they have been in trouble for a few years now, but they have not been easy to deal with when offered extra streams of revenue either,

[Crasherfromwayback]

they have not been easy to deal with when offered extra streams of revenue either,

That's clever!

[scrivy]

Failing racetracks has got me well and truely fucked.

Why is it that central and local goverment can build brand new sports stadiums worth $100's of millions of dollars, for how many people to actually use - maybe 1000 different sports people a year?? (If they're lucky).

How many different sports people a year get to use a racetrack?? All sorts of different codes:
Motorbikes - how many classes?,
Cars - how many classes?,
Sidecars,
Trucks,
Drifters,
Go-karts,
Corporate days,
Training days,
Vehicle Industry testing days,
ACC,
Even drag racing.

Why is it that money is spent on fuckwits to kick (or throw) a ball around, but supporting other sporting codes is not permitted by the goverment?
Why don't the rugby stadiums get funded by private backers.......?? How many would there be then??

Even the Mayor of Dunedin said on TV last week that maybe they shouldn't have built their stadium......... No fucken surprises there!! How many Hampton Downs or Taupo's could they have made for that one stadiums cost????

[HenryDorsetCase]

interesting discussion. Is Hampton Downs Limited a privately held, for-profit company? If yes then presumably the revenues have not met forecast: the economy has been in the shit for a while.

I am interested to see how Highlands goes: though its a different model, backed by Tony Quinns dollar.

[SWERVE]

once those coparate suites go in above the garages the place will die as they will obstruct a large part of the veiw too

Wouldnt want to put a second storey on those garages......... they cant even support WATER.. let alone apartments!

[swarfie]

Failing racetracks has got me well and truely fucked.

Why is it that central and local goverment can build brand new sports stadiums worth $100's of millions of dollars, for how many people to actually use - maybe 1000 different sports people a year?? (If they're lucky).

How many different sports people a year get to use a racetrack?? All sorts of different codes:
Motorbikes - how many classes?,
Cars - how many classes?,
Sidecars,
Trucks,
Drifters,
Go-karts,
Corporate days,
Training days,
Vehicle Industry testing days,
ACC,
Even drag racing.

Why is it that money is spent on fuckwits to kick (or throw) a ball around, but supporting other sporting codes is not permitted by the goverment?
Why don't the rugby stadiums get funded by private backers.......?? How many would there be then??

Even the Mayor of Dunedin said on TV last week that maybe they shouldn't have built their stadium......... No fucken surprises there!! How many Hampton Downs or Taupo's could they have made for that one staiums cost????

HERE HERE....Say it LOUDER. It's probably because the race track builders/proposers/owners can't afford to feed the politicians their usual back-handers!!!!

[HenryDorsetCase]

Failing racetracks has got me well and truely fucked.

Why is it that central and local goverment can build brand new sports stadiums worth $100's of millions of dollars, for how many people to actually use - maybe 1000 different sports people a year?? (If they're lucky).

How many different sports people a year get to use a racetrack?? All sorts of different codes:
Motorbikes - how many classes?,
Cars - how many classes?,
Sidecars,
Trucks,
Drifters,
Go-karts,
Corporate days,
Training days,
Vehicle Industry testing days,
ACC,
Even drag racing.

Why is it that money is spent on fuckwits to kick (or throw) a ball around, but supporting other sporting codes is not permitted by the goverment?
Why don't the rugby stadiums get funded by private backers.......?? How many would there be then??

Even the Mayor of Dunedin said on TV last week that maybe they shouldn't have built their stadium......... No fucken surprises there!! How many Hampton Downs or Taupo's could they have made for that one staiums cost????

interesting to learn from the stuff piece that the investment is $70m. If memory serves the white elephant that is the dunedin stadium was $100M.

I agree with you entirely as regards the eggballers. the thing that gets me is this: they use, and expect to have built for them, costly infrastructure by the public. They then expect that same public to pay top dollar to use it, while any profits made by the private, for-profit entities that control that eggball are held by the eggballers. So it is publicly funded and profits are private. Then when it goes horribly wrong like it has in dunedin, the public are asked to help out. I am not sure who rescued Otago rugby from liquidation (was it private or public money, or the NZRFU?) but I think thats a case study of what not to do.

Dave Cull was elected in Dunedin pretty much due to his opposition to the stadium. the problem is, the poor fuckers are stuck with it, and the only thing they can do is gouge their ratepayers to fund it. And I see they are going to make a capital loss on the sale of Carisbrook to Calder Stewart. Awesome business dealings guys, just awesome.

[nodrog:Me]

Z

Failing racetracks has got me well and truely fucked.

Why is it that central and local goverment can build brand new sports stadiums worth $100's of millions of dollars, for how many people to actually use - maybe 1000 different sports people a year?? (If they're lucky).

How many different sports people a year get to use a racetrack?? All sorts of different codes:
Motorbikes - how many classes?,
Cars - how many classes?,
Sidecars,
Trucks,
Drifters,
Go-karts,
Corporate days,
Training days,
Vehicle Industry testing days,
ACC,
Even drag racing.

Why is it that money is spent on fuckwits to kick (or throw) a ball around, but supporting other sporting codes is not permitted by the goverment?
Why don't the rugby stadiums get funded by private backers.......?? How many would there be then??

Even the Mayor of Dunedin said on TV last week that maybe they shouldn't have built their stadium......... No fucken surprises there!! How many Hampton Downs or Taupo's could they have made for that one staiums cost????

Dont get me started on the americas cup, 30ish mill on one campagin and a boat that only 10 or so people get to play with.

[scrivy]

It's probably because the race track builders/proposers/owners can't afford to feed the politicians their usual back-handers!!!!

And I remember seeing Donkey shaking hands with the two directors before the sealing......
Just a photo op, but with no money to help - CUNT!

[Zedder]

Race track 'theorys' that work really well:

Lets design a kick arse track with plently of options people will love it, but well only build half of it - we can finish it later...... FAIL
Oh that corner needs a reseal, ok well just patch it - it will be sweet........ FAIL
Once we have patched it well let, trucks and race cars out on it the next day.........FAIL
We'll price it up so its totally affordable for everyone to use.....hmmmmm we aint making any money, ok for national events we will triple the price and make garages more expensive than 5 star hotels in london, that will fix it.

If HD had finished the track, secured aussie V8s there that would have helped ......im guessing.

Yeah, but having NZTransport Agency totally against them, they admitted it and apparently said they'd fight tooth and nail, was cited as a major cause of not getting the necessary Resource Consent back then. Puke didn't need one due to "exisiting use".

The track extension had the foundations laid and was preloaded several years ago, it just needed sealing. In a nutshell: Get Resource Consent= get V8 Supercars= get sealing done.