Bidders show interest in purchasing, bringing back A1GP series

At least two groups are interested in re-launching the A1GP World Cup of Motorsports that closed down following the 2008-09 season.

The administrator of A1GP Operations has confirmed that two bids have been made for the assets, which include the fleet of Ferrari-powered, single-seat cars used in the final season of A1GP in 2008-09. Both bidders are known to be looking to use the cars to revive a series that went bust in the wake of its fourth season.

The A1GP series featured open-wheel racing in which drivers represented countries rather than teams or themselves.

Vijay Chadra, who is assisting A1GP Operations administrator Tim Bramston of Griffins Insolvency Practitioners, said: “We have received two bids and are waiting to see who can complete first and then go from there. But that process doesn’t preclude another party coming forward before a sale is completed."

The sale is being jointly handled by the Griffins and freight company Delivered on Time, which was given permission to enforce the security of its lien on the A1GP fleet by the courts last November.

The administrator for A1GP Holdings has also revealed that it is working toward a sale of the assets of that company. They include the A1GP trademarks and jigs, molds and tooling for the manufacturing of the cars.

Chadra would not comment on the identity of the bidders, but it known that one is a group that was working on re-launching the series as the A10 World Series banner in 2011. That group is understood to have secured funding from an Australia investor. The second, believed to be based in the Netherlands, wants to revive the A1GP idea as the A1 World Cup and is understood to be the group in negotiation to buy the trademarks. AutoWeek

Social Media Auto Publish Powered By :