May 27, 2011
Published on tags: Superleague
The GPVWC paddock was thrown into turmoil as evidence surfaced of one of the leading teams of the season's true troubles in the finance department.

As the cars roared around on the Slovakiaring during the second in-season test of the year, officials from the GPVWC Administration were busy delivering the Management of Draig Racing, which is currently leading both Championships, notification that the team's balance has fallen below the minimum requested amount - 1 million pounds - to avoid having the team placed into receivership.

Rumours, leaked early in the evening and confirmed early this morning by the GPVWC Administration, explained that Draig Racing is expected to start being in arrears with the payments to suppliers and service providers with the forthcoming Monaco Grand Prix - being, in layman's terms, unable to pay for the cars to be shipped to Monte Carlo or for the fuel and tyres they would be using.

It is believed that the receivers, appointed by the GPVWC Administration, have got in contact with the management of Draig Racing to plan out some options for the team to survive this moment of difficulty and continue its participation in the series. While these options haven't been disclosed yet, they are thought to include the slimming down of the organisation's assets or a policy of austerity for the rest of the season, coupled with a substantial loan by the GPVWC Bank's Rescue Fund.

How the news will affect the Championship bids of the team and its star driver Lee Morris is unknown so far. The only certainty is that a really rocky road lies ahead for Draig Racing.