Purpose: Administration
Task: Valuation, Marketing & Realisation
Sector: F1 Motor Sport
Location: Oxfordshire
Initially instructed by the Administrators to provide valuation advice across the entire assets operated by this F1 race team and subsequently formulating the realisation strategy and implementation.
With assets spread to the four corners of the world and complex financing and asset claims, we undertook the repatriation exercise and appraisal of the diverse asset base.
Using a combination of Private Treaty Sales for significant assets including race trailer fleet, 6 degree of motion race car simulator, autoclaves etc. and nine online auction sales. Putting some 5000+ lots to the “hammer”.
The sales were brought to the attention of the public through a diversified marketing campaign, which was initiated by a press release to journalists and F1 specialists. Social media channels such as Twitter and YouTube were also utilised, which immediately started a wave of activity amongst F1 fans and potential customers wanting to know the who, what, where, when of how they could get their hands on a piece of racing history.
Wyles Hardy & Co.’s experience in the Motor Sport sector is second to none, having acted for leading institutions and insolvency practitioners regarding:
- Simtek Grand Prix Ltd
- TWR – Race Cars
- MG Sport & Racing
- Team Foggy-Racing
- A1GP