Tony Quinn’s latest bid to purchase Taupo Motorsport Park was approved by shareholders today.
The park’s shareholders agreed to a $9.8 million deal to hand over all assets to Quinn during a Special General Meeting.
After his first bid in July failed to meet the prerequisite number of votes, Quinn’s second push for the purchase received 85 per cent of votes from shareholders.
Taupo Motorsport Park now becomes Quinn’s third New Zealand motorsport park. He already has ownership of Highlands in Cromwell and Hampton Downs in the Waikato.
Settlement is set to be completed in a month.
“It’s a significant day,” Quinn said. “We’ve got plenty of plans to get on with.
“I’ve never been one to talk too much about what I’m going to do, I’d rather get on and do it and then hopefully have everyone else talk about it.”
When news came to light that Quinn had upped his ante with a $9.8 million bid for the park, Taupo Motorsport Park directors urged shareholders to vote in favour of the takeover.
The park’s directors are confident that Quinn’s stewardship of the circuit will massively benefit the motorsport community.
Quinn has already planned for a new go-kart facility to be constructed at the park to entice more tourists.
A GT Membership similar to the ones at Highlands and Hamptons will be implemented into the park’s operations for frequent track users.
Quinn has also said he is already in talks with overseas categories about hosting some marquee race events in the future.
“I look forward to being able to get to New Zealand and visit the three parks,” he said.
“We look forward to receiving the keys and getting on with things.”
CEO of Highlands and Hampton Downs, Josie Spillane, says it is impressive to see how much influence Quinn has had on New Zealand motorsport in less than ten years.
“We are looking forward to adding a third track to our stable in New Zealand,” Spillane said.
“Tony has been very clear on his vision to have motorsport as part of his legacy in New Zealand, and it’s hard to believe in just eight short years since he arrived on the scene in New Zealand, he has achieved so much.”
Spillane says Taupo Motorsport Park will be like “a third child.”
“We’ve learnt plenty of things with the first two ‘kids’,” she said, “It’s highly likely (like all third children), Taupo will be slightly spoilt, able to get away with a bit more than the two older kids, and I have no doubt it will surprise us all from time to time.”