PMD

Belle Vue Arena secure Speedway World Cup

BV Arena Ltd. acquired a 65 year lease from Manchester City Council to run the new National Speedway Stadium in Manchester. In addition to over 45 speedway fixtures each year the facility will also be used for concerts, corporate events, private functions etc.

The Challenge

New start business looking for assistance with £200k capex requirement to fund the fit out of the new Grandstand, turnstile systems, WIFI, hospitality equipment etc. Working capital was tight so a funding solution, repaid monthly was sought.

The Solution

Although the vast majority of the assets offered little security PMD managed to arrange a £200k facility over 5 years allowing the business to derive the benefits of the facility now but pay over time.

The Results

The funding allowed the stadium to be opened on time. Without our help this deadline would have been missed as BV’s bank were not supportive of the asset facility. As a result the venue has been awarded the Speedway World Cup in 2017, the first time in a decade that the UK has hosted it.

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