P.I Track sold to Lindsay Fox??

[Matt H]

Can this be confirmed, and if so, how will it affect cars, procar, bikes etc ??

Would it be kept for motorsport or just testing......

cheers

[RaceTime]

SALE OF THE PHILLIP ISLAND GRAND PRIX CIRCUIT


Placetac Pty Ltd, the current owners of the Phillip Island Grand Prix Circuit have reached an agreement to sell the venue to Linfox Property Group Pty Ltd for an undisclosed figure. The sale is subject to the resolution of some formalities.

Placetac Pty Ltd have been the owners of the Circuit for the past twenty years and the proposed sale includes the Venue, Visitor Centre, approved Hotel Site and surrounding farmland.

The existing business and operation of the venue will be unaffected by the sale.

[Big Trev]

I just read the same thing on Procar, Lindsay Fox is the transport magnate that owns Linfox.

He also owns the old International Harvester Truck testing grounds at Anglesea in Victoria, which is run as a driver training facility specialising in Transport, but does bus, car and 4X4.

Lindsay has an extensive array of cars, he opens his garages up to the public for fund raisers for different charities.

Good on him if he has, there is big chance that it will not be used exclusively for motorbikes.

[Just Do It!]

Fantastic news, if it is true. Lindsay Fox has one hell of a car collection, and would likely leave P.I as a race track

[vortexo]

Sky News says he paid $20 Million.

[RaceTime]

That would be pure guesstimate as no sale price has been disclosed.

[PVDA]

He also owns Avalon Airport rumoured to be the home of Qantas's new cut price airline.

The track was sold with a permit to build a hotel complex on the site but don't panic the permit also states the track has to remain a working ract track.

[Also a Believer]

Gee a race track and V8 supercar team, way to go lindsay.

[Matt H]

i predict v8s back there nextyear,if not this year with the track licensing issues going on :d

[Matt H]

supercar team, also a beleiver, whichone ?

[Also a Believer]

??????????????????????? think

[Mattracer]

Truck racing might get a a good go!

[Matt H]

also, nahh im lost :P

[vortexo]

Originally posted by vortexo
Sky News says he paid $20 Million.

RT - that was the rumoured price on the Sky News Business program. The did a door stop interview with Lin Fox Jnr and he said 2 announcements to be made tomorrow and 1 is the Quantas airport deal.

[RaceTime]

Ahhh OK - the wife mentioned something tonight about Fox starting another airline going out from Avalon.

[GTRMagic]

Tesna Mk2? Wonder how much time, energy, money and inflated hope he would waste on that.

Mitsubishi Team Gibson to move to PI??

[vortexo]

It's a Qantas subsiduary called Jetsomething - Linfox are just giving them cheep landing rights.
This PI thing looks like good news.

[GTRMagic]

Jetstar? They were supposed to be having a big advertising blitz which hasnt seemed to eventuate....

Go Virgin! Screw them all ... Mwaaahhhhaaaahhhaaaa!!

[marcus]

now on the way home from work there was some woman on the radio asking if Lindsay Fox could not use the GP track so much.

unbelievable , she was complaining about the influx of people each event brings to the island (gee local businesses must hate that !!!) and she doesnt like the noise.

apparently there was one bike out there testing a few days ago and she said because of the wind direction it may have well been inside her house.

I say bugger the track and race around her coffee table , soes this woman know how many people would gladly swap houses with her ????

some people really annoy with this complete rubish.

mr Fox , I say use it more and more and more and bring back V8's !~!!!!!!!

[Venom XR]

Lindsay Fox also owns Essendon airport as well as Avalon. The Jetstar thing is Qantas' way of saying 'screw you' to Tullamarine airport management, and Linfox gets the baggage services contract as well as other income associated with the airport. Linfox have nothing to do with Jetstar otherwise - people might be confusing it with Lindsay Fox's aborted attempt to purchase Ansett.

Lindsay got PI for $10M, though $20M was the original asking price. He will continue to build the hotel planned for the site. A caveat in the contract of sale includes the continuation of motorsport events at the track. The MotoGP event will have it's contract negotiated beyond the existing 2006 expiry date starting next year, though state funding of the event could be reviewed.

AVESCO are already quoted as saying they are looking to negotiate with Linfox to return V8s to the track.

Lindsay's love affair with cars should ensure motorsport does survive at the circuit. His car collection (only a portion of which is on display) is amazing, but the workshop adjacent to the museum is even better! A bit of trivia - that workshop is the only place outside of Mercedes themselves that have the blueprints to reproduce the old Mercedes Gullwing Coupes (which they actually do there...)

[smokinJ]

I bloody well hope Lew has nothing to do with it

[dynamik gal]

For Melbournites, its on the front page of The Age newspaper, right hand side column.

[hgmonaro]

I've had a stroll around Fox's workshop and muesum... well worth a visit (it's open a few days each year for charity events)

[RaceTime]

QANTAS may be trying to tell Tulla Management to get stuft, but it certainly isn;t going to get any business from the eastern and south eastern side of the city with Virgin Blue still at Tullamarine - 60 mins fromhere to Tulla, nearly 90 to Avalaon - often longer...

[Venom XR]

It's great for me living in Lara, and those living in Geelong and the Surf Coast.

90 mins though RT? I can drive to Box Hill from Lara in 60 mins - without donating more cash to the Bracks government too.