The Three Sisters Race Circuit has closed amid financial turmoil causing shock waves ripple through the racing community – and as more details emerge of the site’s complex history, the future is looking uncertain for the North West circuit.
The track hosts a range of track days, karting races and Supermoto race rounds throughout the year, and is a valuable resource for race enthusiasts in the region – and its closure has (understandably) caused public outcry.
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Emerging from the site, Mark Foulston explained that as the lease holders of the facilities, Motorsport Circuit Management is now owed £700,000 by the tenants, Three Sisters Racing Circuit Ltd.
On the surface, it doesn’t sound particularly complicated. The lease is owned by MCM, and one of their tenants, Three Sisters Race Circuit Ltd owes £700,000. In 2015, Three Sisters Race Circuit Ltd went into liquidation, and the second tenant, The Racing School Ltd, purchased Three Sisters Racing Circuit Ltd, leaving them responsible for the £700,000 owed. The owner Josiah James Foulston (who shares the same family name as Mark Foulston of MCM) is also the majority shareholder for Lat Holdings Ltd, a private limited company which controls more than 75 per cent of shares for MCM.
Staff have been made redundant and the site has been closed for the foreseeable future. Inevitably, the unexpected closure has caused public outcry.
Coun Bob Brierly, a long-term supporter of the race track who also raises money to provide karts, spoke about the future of the facility. “This is my passion,” he said. “It’s the Three Sisters complex; it was built for motorsports. It cannot be sold off under the localism act. It’s a community asset and it’s too important to people for it to go.”
Despite the unusual circumstances – the good news is that MCM is urgently looking to put in place a new circuit operator in order to re-open the circuit as quickly as possible. As soon as they are in a position to confirm a re-opening date.
For more information on the Three Sisters Race Circuit, click HERE.