SPA-FRANCORCHAMPS SAVED

[BIZ: Spa, March 2]
The Spa-Francorchamps circuit operating company SPCF has been saved. The Walloon government has transferred a loan of EUR 15m to capital. Had they not received this money the organization would have become bankrupt. The deficit arose because the Liège promoter Didier Defourny had not paid his debts to the circuit operators. The Defourny Event Agency had run the Formula 1 races for the past two years and had gone bankrupt. Now the operating company will also be responsible for the infrastructure of the track. This was the responsibility of intercommunal utilities in the past.
http://www.brf.be