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Quinn makes bid for Taupo Motorsport Park

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April 16, 2021
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Quinn makes bid for Taupo Motorsport Park

by Zane Shackleton
April 16, 2021
in New Zealand, News
10

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Tony Quinn has put forward a conditional offer to purchase a 100 per cent shareholding in Taupo Motorsport Park.

Already the owner of both Hampton Downs and Highlands Motorsport Park, should the offer be accepted, Taupo Motorsport Park will be Quinn’s third circuit in New Zealand.

Taupo Motorsport Park is a publicly listed facility whose largest shareholder is currently Rotorua Energy Trust, who owns a 10 per cent stake.

Quinn had previously attempted to buy the park for $3.5 million against a valuation at the time suggesting the circuit was worth nearly double that amount.

However, it appears Quinn is now making a second push to acquire the circuit.

He has outlined his intentions to continue using the park as a motor racing facility and implement a new membership model.

A statement issued by the Unlisted Securities Exchange (USX) read: “Mr Quinn has a longstanding and successful track record of founding, investing, managing and growing these businesses and holds a passionate and strong interest in growing motorsport in New Zealand.

“Mr Quinn has committed capital and investment in TMP’s motorsport park at Taupō, which will not be subject to securing external financing.

“His plans include:

  • “Continuing to operate the motorsport park as a motorsport facility (including by fostering the development of grassroots motorsport in New Zealand).
  • “Introducing a racetrack membership model similar to what exists at Hampton Downs Motorsport Park and Highlands Motorsport Park, where there are presently more than 400 members.
  • “Expanding on the existing event activity at the Taupō motorsport park, including by leveraging the existing infrastructure and business contacts at Hampton Downs Motorsport Park and Highlands Motorsport Park.

“Mr Quinn is enthusiastic about what the future holds for the Taupō motorsport park.

“The sale process is expected to take approximately three months.”

Quinn’s offer price is $1.04 per share – a four per cent premium to the price at which shares were last traded on the USX.

Taupo Motorsport Park is currently valued at $6,688,203.

This year, Quinn purchased a 40 per cent share in Supercars team Triple Eight Racing, becoming the team’s major shareholder.

Comments 10

  1. Adam Bright says:
    1 year ago

    It’s all $$$$$$
    To visit Highlands, is expensive….

    Reply
    • Jake says:
      1 year ago

      Highlands is the best motorsport facility in the country right? So of course its gunna cost more to visit it!? And it’s not that expensive in the grand scheme of things… even the membership model seems fairly priced considering the access you get to the best facilities in the country. And to the other narrow minded comment on this article if hes got the money to buy all the tracks then he can.. that’s how capitalism works even under labour this isnt a communist country 😅.. I think it would be for the best if all the tracks in nz could be brought up to the level of highlands.

      Reply
  2. eric teers says:
    1 year ago

    he has enough friends and hes a business man and we will have to pay what he wants $$$$$$$$$$$$$$$$, puts you off buying a circuit racecar when the entry fees skyrockets when he owns it like the other tracks he owns but there is maintenance etc etc .

    Reply
  3. Marion Prisk says:
    1 year ago

    Mr Quinn is getting a little greedy me thinks. Does he think he can own all of NZ motorsport? What is Motorsport NZ doing about this? Licencing and permit wise? Next he will have a crack at Manfeild – over my dead body!

    Reply
    • Mike Limbrick says:
      1 year ago

      Marion The reality is that there are very few people who have the resources to run around buying up motor racing circuits and also have the enthusiasm for motorsport that Tony Quinn has. From where I sit he has done everything to a very high standard and quite frankly I’m not even sure his tracks make any money running race meetings, but we get to race on world class circuits that otherwise are second rate at best

      Reply
  4. Lambo17 says:
    1 year ago

    Good on him, after recently visiting Highlands Park, and seeing what he has done to develop Hampton Downs. Both of which are now world class facilities, as opposed to the other tracks in NZ not really moving on much since the 70s. Better tracks/facilities will attract better competition from overseas etc. Giving our youngsters the ability to compete with the best and hopefully get front runners in world competition again soon.

    Reply
  5. Vince mulqueen says:
    1 year ago

    The motor sport fans of New Zealand need to be eternally grateful to Mr Tony Quinn for his financial input to the sport. For Tony it’s a passion not an investment, he doesn’t need a return .Yes some of his cars are worth more than this offer but all you guys need these tracks to continue with your passion. If he gets this track he will pore heaps of cash into the track side and your town .Google Highlands an Hampton Downs to see what you could have on your doorstep.

    Reply
    • Patrick says:
      1 year ago

      I agree he could make far more money away from Motorsport .given what happens over in AU’s tracks closed turned into golf courses .Mr Quinn very good racer and enthusiast .need more .like him .got viz brain and smarts .

      Reply
  6. George says:
    1 year ago

    After watching what he did to the way Hampton Downs is run and the massive increase in costs to use the facility it can only mean another race track that alot of riders wont be able to afford to race and whole lot that can will choose not to race as they cant stand the man.

    Reply
  7. Brian Wright says:
    1 year ago

    If the costs to hire / enter remain relative to the cost of the circuit (BMMP will be cheaper to acquire than HD) then there won’t be a lot to worry about. BMMP is run by a complete numpty as it is – cancelling dates, horrific communication with organisers and ridiculous hidden charges that I’d gladly pay a little extra to see a change. As long as he remains true to the “fostering the development of grassroots motorsport” statement then this would end up being a change for good

    Reply

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