Ulster Grand Prix: Negotiations underway to secure future of Dundrod event
- Published
The Ulster Grand Prix's future has been under threat in recent months
Negotiations are underway to secure the future of the Ulster Grand Prix, with an announcement about the road race possible as early as the autumn.
A panel made up of many of the sport's organisers, chaired by MP Ian Paisley Jnr, has been discussing a possible rescue plan for the international race.
The race's future was thrown into doubt when the organising Dundrod club was issued with a winding up order.
The club were struggling with debts in the region of £300,000.
This year's event looked unlikely to happen because of the crippling debts which left the meeting without an organising committee but ultimately the race was cancelled because of the coronavirus pandemic.
It is understood that a potential title sponsor has been secured.
Government funding is essential to any financial rescue package and this has been part of the discussions.
The event is scheduled to celebrate its centenary in 2022.