Velo Birmingham looks as though it may continue following divestment by CSM Sport and Entertainment to a new principal shareholder. This follows a succession of heavy financial losses that exceeded a staggering one million pounds in 2017. Whilst the losses have since reduced to £885k for 2018 (we will not yet know what they are for 2019), we can assume that they have decided it that is no longer a business model that is sustainable. The renamed group, Active Sport and Entertainment, clearly see that a future does exist. They have new staff and a new headquarters and presumably, a new business model with possible new backers.
CSM’s involvement was beleaguered from beginning to end. The first Velo Birmingham was fraught with problems through lack of due process with the relevant local authorities; Velo South in 2018 was cancelled due atrocious weather conditions; Velo North was cancelled due to lack of interest, and; Velo Birmingham 2019 was troubled by external factors beyond CSM’s immediate control such irresponsible drivers, a dead horse and a fatality.
Meanwhile the new organisers have been approaching venues, including the university, for a start and finish location for Velo Birmingham 2020. Whether the new arrangements place these type of events on a more sustainable footing, only time will tell.