Carina Speedway's future is up in the air
THE future of speedway racing in Bundaberg is uncertain after a proposal to re-lease Carina Speedway failed over the weekend.
In a statement released on the Carina Speedway Supporters Facebook page last night former lease holder Peter Basmadjian said the landowners, the Walker family, did not agree to lease the property to the prospective new lease holders from Brisbane.
The news ends three months of negotiations after racing stopped at the track in November last year.
Basmadjian said despite his best efforts they were not able to get the outcome over the line.
"We have worked very hard to try and get a deal together to get the track open again, including surrendering the lease as the landowner said it would 'speed things up,'" he said.
"The prospective new operators had been more than reasonable in their offers, unfortunately the 'trust' doesn't seem to care about the history, the people or the local businesses that have invested so much time, effort and money into rebuilding Carina back to a venue Bundaberg could be proud of."
Basmadjian also had a message for those impacted by the past few months of the ordeal.
"I personally apologise to everyone that put their faith in us to get Carina back from the dead, we did it, but unfortunately it has come at a great cost to us personally, our families and the friends that had invested and believed in us and the Speedway," he said.
"With the weather, controlling governing bodies, exorbitant lease fees and other overheads we did what we could to keep the gates open.
"Some decisions in hindsight were not the right ones and I take full responsibility for the collapse of the management company."
At this stage it is unclear what will happen to the speedway in the future with Basmadjian saying it is not up to them.
The future of Bundy Burnouts is also now up in the air with that organisation having a burnout pad at the track under a sub-lease to Basmadjian's company.
More to come.