Hamilton V8 race under threat

BY NICOLA BOYES
Last updated 13:00 16/03/2010
Hamilton V8s standard
MARK TAYLOR/Waikato Times
UNDER THREAT: Hamilton faces losing the V8s if support doesn't improve dramatically.
Hamilton V8 track
CHRIS HILLOCK/Waikato Times
VANTAGE POINT: Grandstand seats rise over the corner of Norton Rd and Tristram St as part of Hamilton 400 track construction.

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Hamilton faces losing the V8s if support doesn't improve dramatically, and event organiser Dean Calvert is taking such a financial hit his family home is up for mortgagee auction.

Calvert's $1.69 million home at Whale Bay in Raglan is up for mortgagee auction on April 8, the Hamilton 400 co-organiser saying he could no longer meet mortgage repayments.

Calvert and race director Steve Vuleta are directors of Caleta Streetrace Management which brought the V8s to Hamilton and won the seven-year resource consent to run the event, convincing the Hamilton City Council to fund the $7.95m in infrastructure needed.

Calvert's holding company Deanmc Holdings, owns just over half of the shares in Caleta and his Raglan family home.

Calvert said Caleta had been forced to reassess budgets for the event this year after revenues shrank from $14m to $10m last year.

"We've had to put a lot more back into the business ourselves and we have a lot of contractors and staff to look after so we have taken personal hits to make sure that the company is looked after."

He said all contractors and suppliers had been paid and deposits for this year's event were all up to date but it had been a struggle in the recession.

The first year's event saw corporate sponsors include Ford, Holden, Exide, GT Radials and BP. Last year Holden had a sponsorship package but this year is not involved at all.

"We only have one car-linked company involved this year, HSV. This business is heavily reliant on people attending and corporate and hospitality support but when times are tough those are the first things that get taken from any companies budget."

Vuleta said said it was time for Hamiltonians to step up and support the event if they wanted to keep it in the city.

"Ticket sales are considerably down on where they have been and we need Hamiltonians to get back to supporting the event like they did when the council made the prudent decision to put their hand up for it."

"The event is only safe provided ticket sales increase dramatically. We can't keep taking personal hits like this."

Calvert said losing his family home has looked after the city's interest in the event and he said he is committed to keeping the V8s in Hamilton and returning to run the event next year. Caleta was on target this year, after being caught out last year by building about 10,000 too many grandstand seats which they had to pay for but were not filled, he said.

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This year the company has built grandstand seating based on ticket sales.

Vuleta had bought a house in Hamilton and was living here with his family, but he had to sell up and move back to Auckland.

Hamilton Mayor Bob Simcock said the council had spoken with Calvert but had no concerns about his financial situation having any impact on the event.

"We have been told ticket sales are a little bit soft this year but all events are struggling a bit in the recession. People are spending less."

He believed the council's $7.95 million investment in the event was safe.

"It's a significant event for the city and we want it to fly and prosper, just as we want its organisers to prosper."

- © Fairfax NZ News

56 comments
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Mooloo   #56   09:24 pm Sep 25 2010

To all the whingers out there all I can say is get a grip! Dean and Steve were never the issue, they where the only 2 people to have the guts to give this event a go.

They both successfully ran this event at Puke for a number of years prior to Hamilton. Besides the recession there was not Enough support.

As for the grandstand issue did you expect them to pull the grandstand down and re build mid event? At least they fixed the issue second year. This event brought millions into Hamilton each year, reports prove this, motels, restaurants, shops. As fat as I am concerned until you walk in their shoes do not judge!!! The event will not be the same without them that's for sure

Race Fan   #55   10:03 am May 05 2010

Is it true that the NZ promoters are now out of this event and the Australians have taken over the street race ? If so - wow ....this could be what motorsport in NZ needs - a love for the sport and not the promtion

steve   #54   09:45 pm Mar 19 2010

hi i come from the middle of the sth island travel 2hrs to chch to catch a plane to auk so as to attend hamilton v8s. this is my 3rd year and yes i sat in the stadium stand the first year. yes we had problems seeing. last year sat back there again and it was much better. this year are back there again.hopefully things will be better again allthough disappointed no park&go this year.in the past 2yrs people seem very supportive of the v8s in hamilton that i spoke to. but like everthing it is the few knockers of the event who make all the noise ,think of the income it brings to the city.like most people who travel up we spend around 500bucks in your area.to the organisers keep up the good work.

Krysia   #53   12:28 am Mar 19 2010

I feel sorry for everybody in Hamilton affected by the Queensland car-racing company who thrive on propaganda and in manipulating local and state governments. In Sydney, exactly the same issues exist with the Sydney Telstra 500 which was first held last December. In addition, this event was also held through a wildlife refuge. Also, like Hamilton, the Sydney event was also not the success the promoters make out. The sooner all temporary and costly street circuits around Aust/NZ, are banned, the better for communities, governments and motorsport in general.

Becky   #52   10:19 am Mar 17 2010

Thank You to Dean and Steve and all people involved at bringing the V8's to town, I know that you guys have put your heart and soul into making this work. I am disappointed at those who feel the need to kick someone when they are down, I would dare someone to take on a venture of this magnitude and do better. My hat goes off to yous. Hamiltonians as a whole should be supporting yous whether they are a fan or not.

Si   #51   09:06 am Mar 17 2010

Welly youre not better off having the V8s. Having lived in both citys and experience both Nissan Mobil 500 and the Hamilton 400 and Welly is defintiely worse off traffic wise during course construction.

Another V8 fan   #50   07:03 am Mar 17 2010

Good on Dean and Steve for taking the commercial risk in backing this event, but let's be honest - they are commercial promoters and there is always a risk in such situations. You're pretty much always going to get the die-hard V8 fans at an event like this, no matter whether people agree that it's well run or not. It's those 'maybe' fans who make the difference between profit and loss. If tickets are priced beyond the reach of those 'maybe' fans or the event no longer appeals at that price, well, of course the event's finances are at risk. But as I said, these guys are commercial promoters and that's the risk they take.

Will   #49   12:16 am Mar 17 2010

An utter inconvenience?! It's one weekend out of your year (and a few days of closed roads before hand)! Use it as an excuse for a weekend away if you find it so hard to cope. Aside from the few people living on the streets which get closed (some of which will counter the inconvenience by renting out their houses/yards) I can't see any reason for Hamiltonians to moan and wish the event away (and I live there too). To say most the money brought into town by the event leaves with it seems a bit outrageous as well - think of the hospitality industry!

TerryN   #48   10:18 pm Mar 16 2010

You could give the moaners free entry and you would still find something to get up tight about. Its what you make of it, sit there and moan or go and have a good time, Hamilton has a great thing with the V8supercars and if not supported Hamilton lose it, I'll be there for my 3rd year and I'll be there for my fourth and every other year its on, I'd rather Hamilton over Hampton (Viewing is much worse at H.D.)

Sam   #47   07:31 pm Mar 16 2010

The Hamilton 400 is the only reason ive actually been to Hamilton lately, other than that its just one of those random towns on the way to Auckland!


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