An artist impression of the Ipswich Motorsport Precinct redevelopment, announced in 2016.
An artist impression of the Ipswich Motorsport Precinct redevelopment, announced in 2016. Contributed

Motorsport dream remains alive depsite 'imminent closure'

PLANS for an internationally-recognised motorsport facility at Willowbank will remain alive despite the imminent closure of Ipswich Motorsport Park.

The company, established in 2016 to redevelop Queensland Raceway, was listed for de-registration earlier this year.

Its $450,000 loan from Ipswich City Council was agreed to be written down earlier this year.

The company's closure will not affect the raceway operations, which is managed independently.

Ipswich City Council chief executive officer Sean Madigan said the company was in its final weeks.

"Ipswich Motorsport Park has lodged for deregistration with ASIC in early July as part of the final winding up of the company," he said

"Under timeframes provided by ASIC the final deregistration of IMP can be considered imminent."

It was established to drive a $220 million development of the Willowbank motorsport precinct.

An extension to Queensland Raceway, better spectators' facilities and safety improvements were due to be undertaken, but no progress was made.

The company's 2016-2017 financial report revealed the company had a deficit of $412,699.

 

Supercar driver James Courtney with former mayor Paul Pisasale and former councillor Paul Tully at Queensland Raceway in 2016.
Supercar driver James Courtney with former mayor Paul Pisasale and former councillor Paul Tully at Queensland Raceway in 2016. David Nielsen

While no work on the precinct had been made, Mr Madigan said the council would retain the company's intellectual property.

"Ipswich Motorsport Park incurred costs in developing a masterplan for the motorsport precinct as well as general operating costs and wages," he said.

"The original strategy was for IMP to lead the development of the precinct in line with the masterplan however council, following the appointment of the former mayor Andrew Antoniolli in August 2017, this strategy in relation to using IMP changed and the decision was made to wind up the company.

"Council has retained the intellectual property in relation to the masterplan and this will be part of council's future decisions and strategies in relation to the precinct."

As part of the winding up of the company, the council wrote off its loan to the company, which was used to pay for the operations.

Former councillors Paul Tully, David Morrison and David Martin were on the board of Ipswich Motorsport Park.

This week Ipswich City Council administrator Greg Chemello moved to drop Mr Tully and former mayor Andrew Antoniolli from the board of Ipswich City Properties.

Wayne Wendt was also removed as the shareholder's representative.

- Hayden Johnson



A day in the life of a teenage mum

premium_icon A day in the life of a teenage mum

Sense of sisterhood and resilience powerful in unique classroom

'Bad day' led to man's aerial-bending, road-rage revenge

premium_icon 'Bad day' led to man's aerial-bending, road-rage revenge

Hurt feelings from a road rage incident triggered a revenge attack

Teen in court over weekend police chase

Teen in court over weekend police chase

Three teens charged over police chase in across city

Local Partners