The troubles at Scarborough's Oliver's Mount circuit look set to continue after a letter sent by the troubled promoter have laid bare the dire financial situation.
This week, the Scarborough News revealed that Scarborough Council had cut ties with organiser, the Auto 66 Club, after the Cock O' The North Race scheduled for this month was cancelled, the second race weekend of the year not to go ahead.
This morning Peter Hillaby, of PMH Promotions, sent a letter to people owed money asking them to choose from three options for the future of Auto 66 and PMH.
Scarborough Council said this week it would be looking to work with a new promoter to save racing at the historic venue.
Scarborough Council hits back over Oliver's Mount cancellations
In a strongly-worded statement, the authority said it had acted due to "misleading statements" made by the Auto 66 Club.
The email from Mr Hillaby said:
"Firstly I would like to thank you for your support in the racing at Scarborough.
"Unfortunately after all these years of no involvement with the Council including no financial support from them we found ourselves at the beginning of the year at loggerheads with the ACU.
"Every time we received a letter or a visit from them the ‘goal posts’ were moved!
"This has proved very frustrating for the Club and PMH Promotions who are responsible for the publicity at the event.
Normally we have a management plan for the season which meant we had to run all 4 meetings at Oliver’s Mount to try and reclaim some of the losses from last year."
"Up until now, all these losses have been absorbed by PMH Promotions which now look as though they are owed approximately £250,000.
"At a meeting with the Auto 66 management committee chairman, Auto 66 speed committee, the road race committee plus the marshals association they discussed the matter in great detail came up with the following plan:
"1. For the Auto 66 committee to concentrate on further discussions with the council.
"2. To place all advance ticket payments so far into the Friends of Oliver’s Mount account to use for future meetings.
"3. To put PMH Promotions into receivership which means all equipment will go to the receivers with all monies."
"If Option 2 is chosen this will mean that PMH Promotions will keep all the equipment and allow the club to use free of charge for a year to guarantee continuous racing at Oliver’s Mount.
"Of course, we are aware some people will have paid for 3 or 4 meetings and they would want a refund.
"At this time, it is proving impossible to pay anyone but anyone who does request a refund will receive a separate letter on how it will be dealt with.
"Could you please let us know which of the 3 options you would prefer and return to us by no later than Wednesday 20th June.
"Thanks again for your support. It is very much appreciated!"