Lake Torrent developers enter receivership as World Superbike dream plunged into doubt
Jonathan Rea's dream to race a round of the World Superbike Championship in his native Northern Ireland have been dealt another blow, with news that the developers behind the Lake Torrent circuit have gone into receivership.
It had been announced last weekend that the 2019 World Superbike round scheduled for the circuit would not take place as the course would not be ready in time.
A three-year agreement between the Coalisland track developers, Manna Developments, and World Superbike owners Dorna was announced earlier this year but, according to Companies House records, Manna Developments Ltd went into receivership on October 22.
According to Companies House, documents relating to the appointment of a receiver are in the process of being filed.
Hopes and aspirations over many years have seen proposed circuits of international standard come and go without a wheel ever being turned for one reason or another, with Lake Torrent bringing the prospect of world-level racing back to Northern Ireland a little closer than others.
Back in June, the company behind the £30m project said that they were "still aiming for completion in 2019", but now plans have been plunged into doubt.
Approximately 25 full-time jobs had been expected to be created on completion to run and maintain the track on a daily basis with an additional 50 staff required on race days.
The first phase of work included the race circuit, pits, medical centre, restaurant, hospitality suites, six business units and a creche.
There had also been a second phase of development submitted, including a further 90 retail and business units, a range of community and leisure facilities including a hotel, cinema, theatre and more food outlets - an opportunity for more jobs.
Meanwhile, World Superbike fans are turning their attention to Qatar this weekend for the final round of this year's Championship. Jonathan Rea is aiming to break the record of seven straight race wins and the overall points record.