Plato Racing Ltd, the company behind Cataclean Plato Racing, has entered administration one week after their first British Touring Car Championship victory.
Jason Plato’s squad took pole on debut in Donington Park’s Qualifying Race, but had struggled for consistent top form in the rounds between its first appearance and Knockhill.
Adam Morgan took the chequered flag in Knockhill’s Race 1 at the start of August, marking a coming-of-age moment for the team. The successful weekend resulted in a stunning haul of three additional podiums between Morgan and Dan Rowbottom.
“I am completely blown away,” Morgan said in response to his first win in four years.
“I’ve been doing this for a long time so just to get a pole position was amazing but to top it off with a win and a second is just mind-blowing. It’s a huge credit to the team, the sponsors and everybody involved – a huge thank you.”
Now, the outfit has entered administration and is up for sale, according to various records reviewed by Motorsport Week.
Cataclean applied on behalf of Plato Racing to appoint an administrator on August 11th, with an appointment on August 12th and publication on August 17th.
This move comes as separate sale documents reveal the team has lost £835,097 since its inception.
Listed by Pantera Valuations, ‘Project Speed‘ advertises the “unique opportunity to acquire the recently established British Touring Car Championship team, Cataclean Plato Racing, by order of the Joint Administrators of Plato Racing Limited.”
Interested parties are requested to register their interest by August 25th, indicating that the administrators are looking for a swift sale.
As things stand, Plato Racing will still compete at Donington Park on August 22nd and 23rd.
Motorsport Week have contacted Plato Racing for comment.
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