A British businessman has purchased the assets of the Bloodhound land speed record team from the administrators for an undisclosed sum after being told of the team’s plight by his 18-year-old son.
Ian Warhurst, Yorkshire based managing director of Melett, a turbocharger parts and equipment supplier, has purchased the car and equipment from Bloodhound Programme Ltd, which remains in administration and will be wound down over time.
Warhurst was sent a text about the team going into administration by Charlie, his son, and stepped in to to save the team. After making contact with team principle Richard Noble, he actually negotiated the deal with administrators FRP Advisory while on holiday.
Andrew Sheridan, Joint Administrator and partner at specialist advisory firm FRP Advisory LLP, said: “We have been overwhelmed by the passion that clearly exists for Bloodhound and are thrilled that we have been able to secure a buyer who is able to give this inspiring project a future.
Warhurst intends to reveal his plans for the team in the new year.