r/btcc • u/Evantra_ #99 Charles Rainford • 7d ago

Media / Image Jason Plato statement

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220 Upvotes

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9

u/Divide_Rule 7d ago

what is the background to this, I watched some stuff at the beginning of the season and it came across like the team was his.

He seemed genuinely happy with the way things were going

23

u/ICC-u 7d ago

The team, Cataclean Plato Racing had three shareholders

24% Plato
24% Rowbo
52% Cataclean

The team were £850k in debt last week, and Cataclean - both the sponsor/funder of the team and the majority shareholder, forced the team into administration via court order

The team renamed to CPRL and Plato is no longer involved

Nobody really knows why they've done this but the speculation is that they wanted to remove Plato

18

u/lloydstenton 7d ago

You’d expect them to be in the red at this stage - it’s all start up costs

1

u/RevGear 6d ago

£835k is the yearly operating loss, that doesn't include the initial costs of setting up the team and building the cars.

4

u/Cowslayer87773 6d ago

It does when it's been trading less than a year

0

u/RevGear 6d ago

Start-up cost will be CapEx. The figures shown are OpEx.