The developer behind the plans for the multi-million-pound Lake Torrent project in Northern Ireland has gone into receivership.
The £30 million project was set to develop 163 acres of former clay pits in Coalisland, County Tyrone into a ‘world class’ motorsport facility with early estimations that the venue would be ready as early as 2019.
In February, the group behind the project, Manna Developments Ltd, signed a three-year-deal to host a round of the Superbike World Championship from 2019 onwards.
However, while preparatory works took place on the site as early as 2017, the development stalled earlier this year, reportedly because of ‘planning issues and tests relating to old mineshafts on the site'.
Despite this, Manna Developments director David Henderson had said he was still hopeful of completion at some point in 2019.
However, according to Companies House records, Manna Developments Ltd went into receivership on 22nd October, which could be a fatal blow for the Lake Torrent plans.
Earlier this year, World Superbike rights holders Dorna entered negotiations with Donington Park owners, MotorSport Vision about extending the contract with the Leicestershire-based circuit which expired after this year’s event in May.
MCN understands that while MSV were interested in keeping World Superbikes at Donington, they requested a number of changes including moving away from the May Bank Holiday date and that there was more than one feature race on the Sunday.
While the latter has been resolved by WSB bosses’ recent decision to expand to three races per weekend in 2019, it is not yet known whether the two parties have been able to agree on a 2019 date, leaving the future of the British World Superbike round hanging in the balance.