From other fora, it all sounded pretty dodgy.
They'd had 700 entries - which, to me, sounds like quite a lot for a 24hr ride (I know some of those will be relay teams etc., but that still sounds like a pretty succesful number to me) - but it was significantly short of their target and they couldn't meet their obligations to Silverstone.
Shame, but goes to show the demand for endurance events is there.