Historic Swedish Rally faces bankruptcy
Photo: Peo Möller/TT

Historic Swedish Rally faces bankruptcy threat after years of losses

The Swedish Rally has been running since 1950, but it could soon be over. According to Värmlands Folkblad, there is an economic crisis, and the historic competition is now threatened with bankruptcy.

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Umeå municipality, where the competition is held, has repeatedly provided multi-million-krona grants to keep the competition alive. But according to Värmlands Folkblad, the municipal grants for future years' competitions have been used for several years to pay off the previous year's debts. After several years of negative results, the auditors have now stepped in and put an end to the scheme.

The company that runs the competition, Rally Sweden AB, made a deficit of around 16 million kronor. According to one of the newspaper's sources, it is only a matter of time before the historic competition, which is part of the World Rally Championship, goes bankrupt.

There are also reports of a crisis on the board, where CEO Anna Nordkvist is the only member left after several defections.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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