The future of speedway racing in Plymouth appears to have been secured following the sale of the home stadium facility of the Premier League team the Plymouth Devils, national commercial property consultancy Lambert Smith Hampton (LSH) has announced.
The sale of all of the club’s assets to an unnamed bidder, for an undisclosed figure, was confirmed by LSH’s Exeter-based machinery and business assets director Simon Cornelius-Light.
It follows a period of uncertainty about the future of the sport in Plymouth after owner Peninsula Promotions entered into liquidation in October. LSH was instructed by insolvency practitioners, Vaughan Jones and Sue Clay of Jones Giles & Clay, to value, market and sell the assets of the company.
Assets included the grand stands, offices, lounge, pay booth, shop buildings, track and fixtures and fittings.
Interested parties included individuals previously connected to the speedway team, other speedway clubs and a consortium of local fans, Simon said.
Simon said: “We can confirm that the assets of Peninsula Promotions Limited have been successfully purchased and, subject to acceptance to enter the national league speedway with the speedway control board and agreement finalised with the landowner, the new owner is looking forward to announcing speedway returning to St Boniface for the 2017 racing season.”
Simon added: “The successful bidder, who at this stage does not want to be named, was previously connected to speedway and comes from the region. I am sure all fans of the Plymouth Devils will be delighted to hear that the club has been rescued and that speedway will make a welcome return next season subject to acceptance to enter the national speedway league and agreement finalised with the landowner. We are delighted to have played our part in helping to secure the future of the club.”
Manager of the Plymouth office of Jones Giles & Clay, Tony Jopson, commented: “The directors and other speedway supporters had tried hard to attract new investment into the Plymouth Devils prior to the company’s liquidation. It is great to know that the sport won’t be lost from Plymouth after all.”