Event brought back from brink of bankruptcy
Last weekend’s Revolution event at the Lee Valley Velodrome was days away from being cancelled as organiser Face Partnership faced bankruptcy. Cycling Weekly believes the three-event winter track series was only saved after weeks of negotiations saw the business sold to an as-yet-unnamed sports management company.
Ticket sales for the London event, which ran just four weeks after the big budget Six Day London, were down on previous years while tickets are still available for this weekend in Glasgow. Only the final round in Manchester — its spiritual home — is sold out.
While ticket sales have struggled at some venues, it is believed last year’s attempt at international expansion is what saw the company end its 2017 financial year in the red to the tune of £729k. This followed on from a position of £152k in debt in 2016.
This story is from the November 30,2017 edition of CYCLING WEEKLY.
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This story is from the November 30,2017 edition of CYCLING WEEKLY.
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