THE FUTURE of speedway in the borough has been given a stay of execution after a one-year lease was agreed to host motorsport at the Coventry Bees’ Brandon Stadium.
The Bees had been facing their last season at the stadium after it had been sold for development.
However the new lease will run from January 1 2017 until October 2017.
There is an option to extend the lease for an additional two years if a long-term redevelopment plan for the site is agreed.
The one-year lease, which was agreed following discussions coordinated by Rugby Borough Council, means the Bees will be allowed to continue competing in the newly revamped Speedway Great Britain Premiership.
Darren English, spokesman for stadium owners Brandon Estates Ltd, who will sponsor the Bees next season, said the new lease gives the Bees security for the next 12 months – and possibly longer.
He added: “The lease will allow more time to find an alternative venue.
“I would like to thank the Council for playing such a key role in these discussions and helping to broker an agreement that takes all parties forward in a positive and practical way.”
Leader of Rugby Borough Council, Coun Michael Stokes, said the situation was not ideal, though the lease was a good compromise.
He said: “After meeting fans groups earlier this year and hearing their concerns first hand, I am delighted to have been able to bring all of the interested parties together to allow an offer to be made.”
Mick Horton of Coventry Speedway said the club will continue to investigate the options for the team’s long-term future.
He added: “We have signed the new lease to give the speedway team security for the next year at least.
“We would like to thank the new owners for offering us the new lease and new sponsorship money, which will certainly help our finances over the next 12 months.
“We hope that all our fans will join me in thanking the Council and the new owners now that we will have another full season at Brandon Stadium in 2017.”