British Motorsport Team Enters Administration After Major Victory on Track
Administrators said the team posted a £835,097 operating loss as it launched a sale process for bidders until Aug. 25.
- Cataclean Plato Racing entered administration on Wednesday, August 12, just four days after securing its first British Touring Car Championship win at Knockhill Racing Circuit.
- Founded last year by former racing driver Jason Plato, the team recorded a turnover of £545,073 against overheads of £1,380,170, resulting in an operating loss of £835,097.
- Joint administrators James Varney and Simon Bonney of Arafino Advisory Limited manage the team's assets, including two Mercedes-AMG A35 saloons piloted by drivers Adam Morgan and Daniel Rowbottom.
- Pantera Advisory Group listed the sale under "Project Speed," describing the business as "a unique opportunity" to acquire a high-profile, operational motorsport platform with established BTCC presence.
- Interested parties have until Tuesday, August 25 to register their interest in acquiring the business, which maintains competitive race cars, experienced engineering personnel, and recognised drivers.
17 Articles
17 Articles
The Independent
The Independent (US)British motorsport team Plato Racing enters administration
BTCC’s Plato Racing enters administration after Knockhill victory
Plato Racing Ltd, the company behind Cataclean Plato Racing, has entered administration one week after their first British Touring Car Championship victory. Jason Plato’s squad took pole on debut in Donington Park’s Qualifying Race, but had struggled for consistent top form in the rounds between its first appearance and Knockhill. Adam Morgan took the chequered flag in Knockhill’s Race 1 at the start of August, marking a coming-of-age moment for…
Plato Racing and assets offered for sale by Administrators » TouringCars.Net
Joint administrators are overseeing the sale of Plato Racing Limited’s British Touring Car Championship operation after the company is reported to have entered administration. Marketing material released by Pantera Valuation Services confirms that the team’s assets, intellectual property, commercial relationships and operational infrastructure are being offered for sale. The business is described as an “attractive opportunity to acquire a high-p…
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