Sydney Dragway has released its latest statement on management and the future of the facility going forward.
Below is the post from their website.
Sydney Dragway has a clear direction for the future of its facility. The Management Sub-Board, appointed by the Dragway’s Board to embark on a six month review of the challenges faced by the facility has provided an insight into the future of drag racing in Sydney.
Chairman Sam Sofi reported a number of clear findings that will require ongoing analysis to ensure the further development of the sport and its continued growth. “I am confident that the implementation of recommendations from the Management Sub-Board will ensure a positive road forward for the sport and put an end to continuing rumours about the management of the facility”, Mr Sofi said.
In late 2010 the Board commenced a review of the Company’s constitution with a focus on broader membership, to deliver a more sustainable organisation for the future of the venue. The Sub-Management Board have developed this further, redrafting the constitution, establishing a code of conduct for Directors and members and developing a policy to outline management of fraud, corruption and conflict of interest.
The recommendations include implementing a clear separation of the responsibilities of the Board and management, growing the membership of the Company, redeveloping management processes and financial reporting to assist the business in long term planning. Additionally the Management sub Board has investigated additional uses for the venue so as to maximise its benefits to the local community and the region.
“This is about transparency” Chairman of Sydney Dragway and Chairman of the Sub-Management Board, Sam Sofi said. “With strong support for the reform at Sydney Dragway, these challenges won’t evaporate, but will allow the venue to redevelop its financial framework into a strong foundation that will provide us with a secure future for drag racing in NSW and Nationally.”
The operational challenges at our drag racing events at the venue will require further analysis over the next twelve months. Wet weather continues to have a significant impact on the venue and the sport. Whilst this is an area that no track has control over, a review of the event format, a national approach to consistency in the implementation of rules, event delivery, marketing, promotion, sponsorship development and a sustainable formula for prize money will provide the foundations for a viable future. These matters will require your input and support.
With support of the Board, Chairman Sam Sofi announced that the annual general meeting will be held on 19 August 2011, “This will provide an opportunity for further stability and growth for Sydney Dragway”, he said.
With the track continuing its preparation for the start of the Pro Series calendar on September 9,10,11, the Fuchs Australian Nationals, we look forward to great weather to showcase the sport of drag racing at Sydney Dragway. We hope that you support us and that we will see you there.