WRC rights holder goes into administration
The World Rally Championship's commercial rights holder, Convers Sports Initiatives, has gone into administration.
The World Rally Championship's commercial rights holder, Convers Sports Initiatives, has gone into administration.
One of CSI's major backers, Vladimir Antonov, was arrested in London last Friday and questioned in connection with an investigation into the asset-stripping of Bankas Snoras, a bank that he was a 68 per cent shareholder in.
Antonov, who was later bailed, denies any wrongdoing.
CSI insisted earlier this month that its business was unaffected by the situation at Snoras. However, a statement issued by Hacker Young Administrator Peter Kubik on Tuesday confirmed that the situation has now changed.
"On the 25th of November 2011 my partner at UHY Hacker Young Andrew Andronikou and I were appointed as Joint Administrators to Convers Sports Initiative plc (CSI)," Kubik's statement read.
"CSI own a number of sports teams, media franchises and entertainment rights businesses."
"We were appointed as Administrators after uncertainty arose over the future of CSI. CSI has a number of sports related assets and we are very confident of finding interested buyers for these subsidiaries. Our aim is to ensure that the sale process is as smooth as it possibly can be."
"We will now be undertaking a period of due diligence at CSI and once that has been completed we will be in a better position to answer questions."




Comment 1 - 7 of 7
Agree with all the comments - i used to love my Dave WRC fix - but would never pay ESPN for the privilidge,
Bring back manual Gearbox - no Turbo - Remeber the clutch..... heal and toe,
all the real skill have been lost,
proper rallies - yes i remember doing 1000 mile in winter following the good old RAC - Kielder, Dalby, Escadavid and even Sutton Park
i suppose we can dream of the good old days
RS1800 - oh bliss... only had a mk2 Mex but best fun car i ever had.
i think the organisers have lost the plot a bit - lots of TV means sponsers, Sponser mean income, income promotes the sport, people watch and spend money with promoters and sponser - simple.....
St - You can see by the amount of "likes" on RS 1800 comment that he is not the only one.
Its the technology that is destroying rallying. Remove technology from the cars and spend the saved money on longer events. This way your fan base will grow with covering a bigger area for spectators, the WRC will become more popular and more people/companies/sponsors will want to invest in the sport. The IRC is a good example of this but it needs to be more....
Build yourself a time machine RS1800 and stop moaning all the time.
# 1,2,,3, i agree with you all, the days of a good clubman being able to mix it with the works has long gone along with any feeling of fun,
the cars are over complex and the rallys? are now three stages in the morning and a reverse in the afternoon,
i remember standing on esgar Daffid at three in the morning on 1980 RAC THAT WAS RALLYING.
The whole WRC thing has been on the slide for years in my opinion. Too few manufacturers, too few winners (i.e. one guy dominates) and the cars might be brilliantly efficient at covering ground from A to B, but they are boring to watch and expensive to build/run.
Honestly, I'd rather go and watch a bunch of Mk2s at a club rally.
Bring back a cheaper formula where only a few cars need be homiligated - or where even a private team or individual could build a competitive car from kit part (you can a grp 4 escort at home). Even Group B could return as safety and materials have moved on. They could be massively strong, safe and brilliant to watch.
Does this mean that after such a long period in some sort of wierd communication vacuum, we can pray for a WRC prepared to communicate its brilliant product (as seen recently on the Great Orme by people who live here!) to a wider world who are really not prepared to pay ESPN ( or anyone else for that matter ) for such an expensive privelege.....F1 please take note
Fuc$ off Bernie, don't get any idea's !
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