Six-figure debt could wipe out Ulster GP
The full extent of the financial crisis threatening the future of the historic Ulster Grand Prix road races can today be revealed.
The organising Dundrod Motorcycle Club are facing insolvency within weeks as they struggle to repay six-figure debts.
Among those owed money are this year's race winners, including Peter Hickman, the Dundrod outright lap record holder at 136.415mph, making him and the course the fastest in the road racing world.
But 97 years of history could come to an end, UGP chiefs have warned, unless a financial saviour can be found.
The tipping point came as bad weather dramatically reduced the attendance at this year's August event.
Dundrod club president James Courtney said: "We had a plan in place and were dealing with the debt that would have wiped it out in a year and a half. Then, due to a very bad forecast, nobody came on Saturday and we found ourselves six-figures in debt and in trouble."
And he called for a rethink and restructuring on how events like the UGP are run, saying: "What is needed is a commercial team to run the event. The meeting has to be run as a business."