0800 644 6080
Call FREE from Landline and Mobile
Est. 1989

Iconic Manchester Speedway Club Belle Vue Heads into Liquidation

Written by: Keith Tully

Published: 25th January 2017

Liquidators have been appointed to manage the affairs of Belle Vue Speedway Limited, a company which had owned and operated the famous speedway sports team the Belle Vue Aces.

The Aces are an iconic outfit in Manchester and the sport of speedway in the UK but its financial position has been under considerable pressure and scrutiny for some time.

Reports emerged in recent days suggesting that the club would be able to survive its latest financial crisis but, with liquidators having now been appointed, it looks like the end of the road for Belle Vue Speedway in its current incarnation.

In addition to the business behind the Belle Vue Aces being entered into liquidation, a separate company which was created to run and promote a new National Speedway Stadium is also facing the same fate.

BV Arena Limited had been responsible for activities at the new stadium which was opened in 2016 and built in the Gorton area of Manchester at a cost of around £8 million.

Despite seeing its facilities host some of the most high profile international events in the sport of speedway in recent months, the company responsible for the stadium has been unable to avoid accruing some very sizeable debts.

Manchester City Council recently decided not to renew BV Arena’s license to occupy the stadium and the British Speedway Promoter’s Association has also revoked the speedway license of the Belle Vue Aces in its current form.

However, the council has stated its commitment to seeing elite speedway competition continue at the new arena in Manchester and for the city to maintain a competitive team in future.

Negotiations are ongoing about how a new basis for a Belle Vue Aces speedway franchise might be established on a firmer financial footing going forward.

“Both the arena and the club are iconic to Manchester, and the construction of a world class stadium was part of an important regeneration project for East Manchester,” said Nick Hancock, one of the recently appointed liquidators.

“It was a sad day for speedway fans when the club closed, but it is heartening to know that speedway will remain at the national speedway stadium.”

Keith Tully

Keith Tully

Join Keith Tully on Linked In Follow Keith Tully on Twitter

Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

Meet our Team of Experts
Director Support - Business suffering from Cash-Flow Problems?
If your company is financially distressed, we also offer the below services:
Business debt recovery

  • Recover Unpaid Invoices of £5k+
  • Expert Credit Control Services
  • Stop Late Payers & Bad Debts
Visit Site
Time to pay experts

  • Get Breathing Space with HMRC
  • Support with Business Tax Arrears
  • 35 Years HMRC Negotiation
Visit Site
UK Business Finance

  • Rejected for a CBILS Loan?
  • Get Emergency Business Funding
  • Supporting 1000+ UK Companies
Visit Site
Who we help
  • Company Directors
  • Finance Directors
  • Sole Traders
  • Accountants
  • Small Businesses
  • Large Businesses
  • Partnerships
Contact our team
Jonathan Munnery
Gillian Sayburn
Julie Palmer
or Find your Nearest Office

Here at Real Business Rescue we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See PRIVACY POLICY

Business Rescue Advice for Directors
Free Guide for Limited Company Directors
Business Rescue Advice for Directors
  • How to manage company cash flow problems
  • Advice on dealing with HMRC
  • Understanding rescue and closure options
  • And much more...
Free Guide Download
Dealing with your Insolvent Clients
Business Rescue Guide for Accountants
Dealing with your Insolvent Clients
  • Helping you advise insolvent clients
  • Spotting signs of client distress
  • Exploring business rescue options
  • And much more...
Free Guide Download
Our numbers speak for themselves
Number of UK Offices
Directors Helped
Licensed Insolvency Practitioners