MG Sports and Racing

Acting as agent to the Joint Administrators of MG Sports & Racing Limited (the motorsport division of MG Group), Wyles Hardy & Co played a pivotal role in managing the disposal of a portfolio of assets, a task undertaken after MG faced financial difficulties and ceased operations in 2005. As one of the UK’s most established asset valuation and auctioneering firms, Wyles Hardy was entrusted to handle the complex process of realising MG’s Sports and Racing assets, ensuring maximum value recovery for creditors. Our work included the assessment, valuation, and sale of a wide range of specialised assets, from high-performance vehicles and advanced racing prototypes to unique equipment and development tools used in MG’s ambitious projects. The sale drew interest from automotive enthusiasts, racing teams, and collectors across the globe, as these assets represented some of the most iconic designs and engineering achievements of the MG legacy.

The disposal process was carefully organised to ensure transparency and efficiency, highlighting Wyles Hardy & Co’s expertise in large-scale asset recovery and auction management within the automotive industry. We conducted auctions and negotiated private sales to match these assets with buyers who recognised our unique value. The project underscored Wyles Hardy’s capabilities in handling complex asset disposals for distressed companies, providing comprehensive valuation, marketing, and sales solutions tailored to the automotive sector. Our work on the MG Sports & Racing assets is remembered as a significant effort to preserve automotive history, allowing these assets to find new owners while maximising returns for the creditors.