|
Good. I presume they will try to sell it, and that clears the deck for somebody fresh to come in and take over, negotiate with council and residents with none of the BAC baggage, and maybe come up with a DA that allows the circuit to resume at some level.
BAC will take a bath, but they deserve that for all the poor decisions made at WP, starting with buying into something that was already outside its DA, and then inflaming the situation.
They have sunk a fair bit into the circuit, and their income has been slashed - and the longer the stand-off continues the more money they are losing, interest rates are going up, a move like that is no surprise.
If they think that will exert leverage on council they are living in a fools paradise, it is the residents they need to deal with, and the residents will be dancing under the stars at this news.
If it is confirmed?
|