Funding available for racing clubs
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Motorsport UK have announced a £1 million funding package to help clubs address the financial consequences of Covid-19.
The organisation has suspended all event permits until June 30.
This suspension is subject to a rolling review to enable the sport to resume as soon as is practicable.
Around 4500 event permits are issued annually across all forms of motorsport in the UK.
Motorsport UK is setting aside the
£1 million of funding to support its 720 member clubs, responsible for organising and promoting motorsport at all levels in the UK. The aim is to mitigate immediate financial risk and help to aid recovery towards a strong and sustainable future.
This investment will be used to create two funds, each valued at £500,000, to provide loan and grant support to Motorsport UK clubs through this challenging period.
A Motorsport UK panel will review each application and decide the amount to be awarded and the funding mechanism.
Applicants may receive funding from the Motorsport UK Club Continuity Loan Fund or The Motorsport UK Club Continuity Grant Fund.