V8 Supercars has launched legal action against Lucas Dumbrell Motorsport as the fallout from the category's Racing Entitlements Contract tender continues.
The team, which was one of three parties to hand an REC back to the category at the end of last year, has today issued a statement confirming that legal proceedings have been issued against it.
V8 Supercars concluded a tender for the three RECs on August 1, but has yet to confirm the outcome of the process.
“Lucas Dumbrell Motorsport (LDM) wishes to advise that V8 Supercars Australia has formally issued legal proceedings against LDM relating to V8 Supercars purported sale of its second Racing Entitlements Contract (REC),” read the statement issued by LDM.
“The purported sale greatly inhibits the team's planning and ability to field a two (2) car team for the 2015 V8 Supercar Championship, and LDM intends to vigorously defend the proceedings.”
Said Dumbrell in the statement: “We have some great momentum at LDM right now, with a new multi-national sponsor secured for a second car, bringing on board additional operational and performance staff, and continued positive discussions with both our major partner ‘Repair Management Australia' and ‘ Holden', a two car team in 2015 is definitely our intention.”
A V8 Supercars spokesman declined to comment on the situation when contacted by Speedcafe.com.
CEO James Warburton noted at the recent Sydney Motorsport Park event that the category is “working through the complexities of” the REC tender before confirming an outcome.
Under the terms of the REC agreement, the three parties – LDM, Triple F and Tony D'Alberto Racing – would receive the proceeds, minus a transaction fee, should their RECs be sold.
While the three entities could bid to buy-back their own licenses, V8 Supercars has previously made it clear that they would not be able to simply ‘re-activate' their RECs without going through the tender.
The tender is believed to have drawn minimal formal interest, with a conditional bid from TDR, dependent on securing funding, the only known submission.