Abraham Area: New Owner and Future Development
The Abraham area, which hosted the motorcycle Grand Prix in August until 2020, has had a change in ownership since 2005. The transfer of ownership was confirmed by the public register of beneficial owners and also by the Automotodrom Brno company. The transaction price has not been disclosed by either party.
According to the company’s statement, the new owner intends to maintain the current activities in the area and further develop it. „With Karel Hubáček entering the area, a strong investor with a vision for its development is coming on board. Since 2016, we have focused on developing additional activities in the area, whether it was a hotel or a polygon. These now represent a significant part of its life. We believe that with the direction set, the circuit will continue to develop and remain one of the most prestigious racing tracks in Central Europe,“ said Abraham in his statement.
The acquisition of the area was discussed by both parties for several months, and the new owner currently controls the entire area, including the companies operating within it. „The contracted and announced events and revenues are, of course, valid. Our goal is to further develop activities at the polygon, strengthen the segment of corporate events, and continue to create opportunities for the circuit to be open to the public – not only for motor enthusiasts,“ said Karel Hubáček, the new owner of Automotodrom, who also owns the former Vítkovice Heavy Machinery race track in Ostrava.
Hubáček collaborates with Accolade and Creditas Group, owned by his cousin Pavel Hubáček, in his investments in industrial parks and areas.
The Masaryk Circuit was established in 1930 and originally ran through forests near Brno on regular roads. Its route gradually changed throughout the 20th century, serving motorcycle and car races.
In its current position as a modern closed racing track, it opened in 1987 and has been the venue for the Czech Republic Motorcycle Grand Prix since 1950. The Grand Prix was last held in Brno in 2020 without spectators due to COVID-19 restrictions.
In recent years, the race has consistently ended in a loss, although the city, region, and state have contributed tens of millions of Czech crowns. In 2020, the promoter company Dorna, which paid a licensing fee for MotoGP, set the reconstruction of the track as a condition for hosting future races, with an estimated cost of around 100 million Czech crowns. In January 2021, the representatives of Brno voted against hosting future races in the city.
