HSVDT unfazed by sponsor collapse

[Torquative]

perhaps there will be a Walkinshaw Performance sponsored car in 2 weekends time????

HSVDT unfazed by sponsor collapse
Release date: 01/04/2008

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THE HSV-Dealer Team is not facing a Dick Johnson Racing-style financial crisis despite the collapse of prominent sponsor Opes Prime.?

Sources within the high-flying Holden team have indicated the sponsorship deal with the troubled Melbourne stock broking firm was “not the be-all and end-all” for the team, and would not impact the team’s ongoing performance on and off the track.

Opes Prime was placed in voluntary administration this week, the company’s directors appointing John Lindholm of corporate advisory firm Ferrier Hodgson as administrator.

A statement from Ferrier Hodgson issued on March 28 confirmed directors had appointed Lindholm when they became aware of a number of cash and stock movement irregularities. The company’s accounts have since been frozen.

However inevitable comparisons with DJR’s ill-fated deal with property group Westpoint are irrelevant, the HSV-Dealer Team not faced with the same exposure to loss as the iconic Ford team was.

The team also has the ongoing support of transport company Toll and the protection of the Walkinshaw Performance umbrella.

HSV spokesman Simon Frost has confirmed that Opes Prime’s sponsorship arrangements were up-to-date at the end of last month.

However there is a 99 per cent likelihood that the Opes Prime signage will be removed by Hamilton Street Circuit for round three of the Australian V8 Supercar Championship in New Zealand on April 18-20.

Meanwhile, Rick Kelly remains the highest placed Holden driver on the V8 points table with 432 points, behind Ford driver Jamie Whincup (540).?

When contacted last night, Kelly said the loss of a key team sponsor had not been a distraction because he had been deliberately kept distant from details about the team’s sponsorship arrangements.

“The race team keeps me at arms length of business dealings because that allows me just to concentrate on driving,” Kelly explained.

“When the Opus Prime situation happened (Walkinshaw Performance chief executive) Craig Wilson rang me to let me know what was going on and to assure me it was no major drama for me.”