A couple of weeks ago, we reported that the Bloodhound SSC project would cease operations, as a suitable investor had not been found to keep its wheels turning. Bloodhound Programme Ltd was seeking investors to pay off its debts and complete the speed record project, with goals of breaking the current 763 mph land speed record and even surpassing 1,000 mph.
However, it now seems that Bloodhound has a light in the horizon. Autocar is reporting that a British investor has stepped in and bought the business and assets of the Bloodhound project.
The project's joint administrators have announced that Ian Warhurst, an entrepreneur from Yorkshire, has completed a deal on Bloodhound for an undisclosed amount, and that Warhurst will outline his plans early next year. Warhurst has previously led the British turbocharger manufacturer Melett, so he likely will have a good command of the jet-engine-powered Bloodhound SSC's workings. As administrator Andrew Sheridan said: "Ian has a strong background in managing highly successful businesses in the automotive engineering sector, and he will bring considerable expertise to bear in taking the project forward."
While it isn't yet known how much Warhurst paid for Bloodhound, earlier reports underlined that it would take $6.4 million to take the record attempt car to 500-600 mph, some $19 million to break the existing speed record and $32 million to get it to 1,000 mph. At one point, it was said that the vehicle was for sale for just £250,000, or $315,000; getting it up to speed is the really expensive part.
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However, it now seems that Bloodhound has a light in the horizon. Autocar is reporting that a British investor has stepped in and bought the business and assets of the Bloodhound project.
The project's joint administrators have announced that Ian Warhurst, an entrepreneur from Yorkshire, has completed a deal on Bloodhound for an undisclosed amount, and that Warhurst will outline his plans early next year. Warhurst has previously led the British turbocharger manufacturer Melett, so he likely will have a good command of the jet-engine-powered Bloodhound SSC's workings. As administrator Andrew Sheridan said: "Ian has a strong background in managing highly successful businesses in the automotive engineering sector, and he will bring considerable expertise to bear in taking the project forward."
While it isn't yet known how much Warhurst paid for Bloodhound, earlier reports underlined that it would take $6.4 million to take the record attempt car to 500-600 mph, some $19 million to break the existing speed record and $32 million to get it to 1,000 mph. At one point, it was said that the vehicle was for sale for just £250,000, or $315,000; getting it up to speed is the really expensive part.
The BLOODHOUND Team are delighted to announce a purchaser for the business and assets has been secured, which will allow the project to continue. Read the full story here: https://t.co/R0RcL4rIlH pic.twitter.com/yF1DhxSYs5
— BLOODHOUND SSC (@BLOODHOUND_SSC) December 17, 2018
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