Redcar safe from closure - Taylor

Redcar Bears owner Glyn Taylor says there is still a bright future for speedway on Teesside despite announcing he is selling his stake in the club.

Taylor had earlier claimed the club could be facing closure.

"Since it was announced the phone has been running red hot so I'm glad to say I'm more positive," he told BBC Tees.

"It will just be a matter of which way we decide to go because there are so many offers on the table. Certainly we're not looking at closure at all."

Taylor took over the running of the club when he bought founder Chris van Straaten out in January 2008.

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With a series of postponements, injuries and rider issues, Taylor has found it difficult to balance the books at the South Tees Motorsport Park.

"It's like any professional sport, we've got riders who earn their living from speedway, and those commitments have to be met," he said.

"Then you have the commitments of running a stadium, and while ours is very basic, people don't realise everything down to the toilet paper has to be paid for, from somewhere and someone has to go and do it.

"Being an average bloke on the street, not a high-profile business person, I'm finding it difficult to meet those financial requirements."