Racewars future in doubt: organisers
Organisers of the Racewars car racing event say they will need urgent support from the City of Albany and commercial partners to stay solvent.
The group, which has held three Racewars drag racing events in Albany since 2017, said on Facebook that financial losses due to this year’s event being cut short would not be recuperated.
The group said it ended the 2019 event with a record loss.
“That loss is not insurable, we also do not wish to pursue recovery action to recoup that loss,” it said.
“We’re not that kind of event, we’re firmly community minded and we’ve got a heart.”
Racewars said it would not be able to continue operating without financial assistance.
“This isn’t sustainable, and the event team have indicated their financial support is not open ended,” it said.
“Racewars remains in negotiations with its creditors to resolve all outstanding invoices and is seeking support both from the council and commercial partners to stay solvent.
“The event’s survival depends on the outcome of these negotiations and without assistance Racewars will be wound up.”
A report set to head to council next week said Racewars organisers owed money to creditors, including Albany businesses, due to early end of the 2019 event.
A recommendation for future events suggested the organisers secure a patron, sponsorship or outside funding support to ensure its viability.
The 2019 Racewars event at Albany Regional Airport ended early following the death of 26-year-old driver Brody Ford, after his car left the runway and burst into flames on the Sunday.
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