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The Phillip Island circuit, which has been for sale for more than a year, has been sold to the Linfox Property Group.
The sale, which is subject to the "resolution of few formalities", was for an undisclosedsum.
Rumour puts it at $10 million, but both parties have remained silent on the value of the deal. Most importantly for race fans, the track is safe.
Fergus Cameron from Phillip Island Motor Sport told AMCN: "The sale includes the track, theVisitor Centre, Hotel site and farm land.
The current business is unaffected by the sale."
When pressed on the point of how long racing would remain safe at the Island, Cameron insisted that it would continue. Current owner, Placetec Pty Ltd, has owned the track for 20 years.
The sale, which is subject to the "resolution of few formalities", was for an undisclosedsum.
Rumour puts it at $10 million, but both parties have remained silent on the value of the deal. Most importantly for race fans, the track is safe.
Fergus Cameron from Phillip Island Motor Sport told AMCN: "The sale includes the track, theVisitor Centre, Hotel site and farm land.
The current business is unaffected by the sale."
When pressed on the point of how long racing would remain safe at the Island, Cameron insisted that it would continue. Current owner, Placetec Pty Ltd, has owned the track for 20 years.
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