Belle Vue Aces lose speedway licence after financial problems
Last Updated: 03/11/16 2:27pm
Belle Vue Aces have had their speedway licence revoked with immediate effect over financial management issues.
At the same time, Manchester City Council have also made the decision to not renew Belle Vue's licence to occupy the National Speedway Stadium.
Keith Chapman, Chairman of the British Speedway Promoters Association (BSPA), said: "The British Speedway Promoters Association have agreed to recommend to the Speedway Control Bureau that the present Belle Vue Speedway promotion is annulled due to their financial situation and this will take effect in the next few days.
"The Association will oversee Belle Vue Speedway's affairs until a new promotion is established working closely with Manchester City Council and we confirm that Belle Vue Speedway will participate in the Speedway top league in the 2017 season.
"The BSPA would like to thank Manchester City Council for their support and understanding in such difficult times."
Sir Richard Leese, leader of Manchester City Council, said: "Since taking control of the National Speedway Stadium in March this year, BV Arena Ltd have also failed to meet important requirements of their agreement, including paying any rent on the property to the City Council.
"As a result, Manchester City Council therefore are unable to renew Belle Vue Aces' licence to occupy the building in their current position. It has also come to light that the group companies have significant debt not only with the Council but also other parties.
"The BSPA and the City Council have been in regular dialogue over the situation and both parties remain absolutely committed to speedway in Manchester, but this must be a long-term and sustainable solution for the club to ensure that Belle Vue Aces continue as the city's speedway team.
"The City Council will now work closely with the BSPA to put in arrangements that can ensure the success of the National Speedway Stadium and develop speedway in Manchester.
"The Eastlands Trust will take over operations of the £8m National Speedway Stadium in the short term."