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.”