The NASCAR-style race series launched in early 2008 brought ex-Formula 1 drivers like Jean Alessi, Johnny Herbert, Heinz-Harald Frentzen and Jacques Villenueve amongst others to race in the region. Large prize fund cheques of $600,000 were offered to the seasons champions, Gianni Morbidelli in 2007 and Johnny Herbert in 2008.
The racing was close, full of action, and close contact, they were simple to drive, but tricky to manhandle on the limit.
The racing stopped with the end of the second series in 2009 however as the organisers ran out of funds – handicapped in particular, according to inside sources, by an expensive parts supply deal especially for engines.
Since then all the cars have been sitting in a warehouse at the Dubai Autodrome, and now the whole lot is up for sale, reports The National newspaper. Now a major liability for developer Union Properties (UP) which owns the the Autodrome and Motorcity, the 30 cars plus all the support equipment, has been listed for sale as part of the liquidation process for the Speedcar racing series.
Apparently is looking at a loss of $38.1millio on the venture after announcing its overall worst quarterly loss last week. The race series is said to owe a total of $41.7m, which includes $38.5m to UP, and even $169,200 and $129,700 to star drivers Herbert and Frentzen.
The racing cars are being advertised on Go-Dove.com and everything is being sold as a single lot including the cars, support equipment, communications systems, tools, clothing and trophies.
A spokesperson for the website it reported to have said a bid of $1.5m is expected and several buyers have already expressed an interest – there’s an even a possibility that the series may be restarted within the GCC. There’s no deadline for the sale, but it’s expected to be completed within a few months.
