Speedway club saved by promoter

http://news.bbc.co.uk/go/rss/-/1/hi/england/oxfordshire/6739837.stm

Version 0 of 1.

A long-standing speedway club that was to be closed down amid financial problems has been saved.

Just under a fortnight ago, Cowley-based Oxford Speedway was pulled from the Elite and Conference leagues by its owner Colin Horton.

But now promoter Allen Trump has come forward to save the club, which has been racing since 1939 and is made up of the Cheetahs and Lions teams.

Mr Trump said he was "proud and honoured" to save "such a great club".

This is very much a team effort with myself and the fans working together Promoter Allen Trump

The club will now be able to see out the rest of the season.

Mr Trump said his decision to help out Oxford would not affect his existing plans to reintroduce speedway in Exeter.

He said: "My work on the Exeter project continues - that very much remains a priority for me. I don't see any conflict.

"I'm very proud and honoured to be in this position to salvage such a great club in Oxford.

Rebuilding begins

"My aim is to stabilise the club financially and to develop a good relationship with our stadium landlords.

"This is very much a team effort with myself and the fans working together to secure the future of this club which has such a great history and wonderful facilities."

The decision to close the club was made by Mr Horton at the end of last month, who said he had lost thousands of pounds since buying the club last year and could no longer bankroll it.

The club had been attracting crowds of about 400 to 500 for its home meetings - a figure that would still need to double for it to break even.

Peter Toogood, chairman of the British Speedway Promoters' Association, said: "Hopefully now Oxford as a club can lay the foundations for a strong future. It's a rebuilding process which starts immediately."