Donington boss denies debt reports

Donington Park boss Simon Gillett says work on the circuit's revamp is continuing as planned, dismissing reports that his company had debts of up to £66 million

Donington boss denies debt reports

A report on the Daily Mail newspaper over the weekend said Donington Ventures Leisure Ltd had filed its annual report at Companies House showing a loss of £12.4million last year and a total debt of £66.7 million.

Gillett, however, said on Monday that his company had not filed any reports yet, denying the story and insisting the details of the financial package to pay for the revamp will be revealed next month.

"It's business as usual at Donington Park and absolutely nothing has changed," Gillett told the Press Association.

"Work is continuing on site and all of our staff are completely focused on delivering a full and exciting calendar of events this year ahead of our hosting of the British Grand Prix in July next year.

"Our 2008 financial report has not been filed with Companies House, which leaves me confused as to where certain publications have sourced their 'facts' and figures from.

"We have always maintained we will reveal details of our financial package for the grand prix in quarter one of this year.

"True to Donington Park's belief in delivering on promises, we will make this information available at the end of March."

Despite the doubts about his project, Gillett insisted Donington will succeed when work is completed and the track hosts the British Grand Prix next year.

"The planned developments have the potential to put Leicestershire and the rest of the country on the world map for our motorsport facilities, and that's something I remain passionate about," said Gillett.

"It would be easy to roll over and give in when faced with a constant barrage of scepticism and criticism, but that's not my style.

"If it was, I would never have embarked on this project in the first place. Our plans are not dreams, but vision."

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