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VenuesWest to continue Perth Motorplex operations as buyer sought

VenuesWest to continue Perth Motorplex operations as buyer sought
July 2, 2018

The Western Australian Government has announced that it will continue to operate the Perth Motorplex, through its venues agency, VenuesWest, for another 12 months as it continues its search for a new permanent operator to take on the facility.

Advising that it “believes engaging an operator from the private sector is the best option for Perth Motorplex's long-term sustainability”, the Western Australian Government says it will continue to look for a suitable long-term buyer or operator for the venue.

Commenting on VenuesWest’s continued operation of the venue, Western Australian Sport and Recreation Minister Mick Murray stated “we understand how important Perth Motorplex is to Western Australia's motor racing fans, participants and those whose livelihoods depend on the industry.

"Ultimately the State Government believes the venue will be best operated by the private sector in the long term.

"For the coming season while we seek out an appropriate private sector buyer or operator, the State Government is committed to ensuring quality motor racing can continue for the benefit of local fans and the industry."

The Miocevich family operated the facility from its opening in 2000 but when drag and speedway stalwart Gary Miocevich died in 2016 the family decided not to renew the management contract.

Venues West has been managing the Motorplex since July 2016 and has gone out to the private sector for expressions of interest but so far has failed to find an operator or buyer.

It confirmed to date it has received a total of seven bids from international and national parties and while three bids were shortlisted all have been withdrawn their bids.

Venues West Chief Executive David Etherton said the shortlisted parties cited different reasons for withdrawing at various times during the process but discussions with interested parties were continuing.

Etherton said the Western Australian Government recognised a small amount of short term capital investment was required to continue to operate the venue while pursuing a suitable buyer or operator.

He advised "the key to the success of the venue is its sale or lease to someone with a huge passion and extensive experience in Motorsport who can operate it successfully for the long term.”

According to the Venues West 2016/17 annual report the Motorplex is worth $29.5 million and attracted 182,000 patrons, down from 249,000 in 2015/16.

Image: Monster Trucks at the Perth Motorplex.

30th May 2018 - EXPECTATION FOR NEW WESTERN AUSTRALIAN MOTOR RACING CIRCUIT 

3rd April 2017 - PERTH MOTOR RACING VENUE TO CONTINUE OPERATIONS TO MID 2018 

18th September 2016 - GROWING DEMAND FOR ACCESS TO MOTOR SPORT FACILTIES

11th August 2016 - VENUESWEST ANNOUNCES GENERAL MANAGER OF PERTH MOTORPLEX

2nd June 2016 - NEW OPERATORS SOUGHT FOR PERTH MOTORPLEX VENUE

13th March 2015 - VENUESWEST INSTALLS AUSTRALIA’S LARGEST SCREENS AT A DRAG RACING VENUE 

26th November 2014 - CAMS REVEALS MOTOR SPORT CONTRIBUTES $2.7 BILLION TO THE AUSTRALIAN ECONOMY

8th November 2013 - REPORT RECOMMENDS FUTURE HOME FOR SOUTH AUSTRALIAN MOTORSPORT


 

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