The Bondurant School, which hosts the Mazda Road to Indy shootout, has confirmed the event will still take place despite ongoing bankruptcy proceedings, according to its newly appointed restructuring officer.
After filing for Chapter 11 bankruptcy protection on October 3, questions were raised over whether the Bob Bondurant School of High Performance Driving would be able to fulfil its obligations as host of the $200,000 prize shootout.
Having temporarily shut down operations at one point amid its financial uncertainty, the school is now open once more – albeit still under bankruptcy protection.
Its newly appointed chief restructuring officer Timothy Shaffer has offered assurances it is ready to host the MRTI shootout next weekend.
“Pat and Bob Bondurant are equally committed to helping the School get back on track. We’ve already begun working on restructuring initiatives that will help stabilise the School’s financial position,” said Shaffer.
“Our collective goal is to return the company to normal operations and ensure the School is a part of our local and national racing communities for many years to come.
“We’re especially looking forward to hosting the 2018 Road to Indy $200,000 Scholarship Shootout, which will be held at our School in December.”
The MRTI shootout was switched from previous host Lucas Oil School of Racing at Laguna Seca to the Bondurant School and its adjacent Wild Horse Pass Motorsports Park in Chandler, Arizona ahead of last year’s running.
Despite it teetering on the brink of liquidation earlier this month, Shaffer and his Clotho Corporate Recovery organisation appear confident of saving the school. Shaffer is now in charge of all business operations there, with Bob and Pat Bondurant retained as consultants.
Shaffer indicated he was actively seeking negotiations to rescue the business as a going concern, whether through fresh investment or an outright sale to new owners.