British motorsport team Plato Racing enters administration

• British Touring Car Championship team Plato Racing, run by Jason Plato, entered administration on 11 August, according to reports.
• The collapse came just one week after the newly formed team secured their first race win at Knockhill.
• Court records confirmed notices for appointing joint administrators for Plato Racing Limited have been filed, according to reports.
• The team's operational infrastructure, intellectual property, and assets are currently being offered for sale.
• Plato Racing has reportedly suffered substantial operating losses after accruing roughly £1.38 million in overhead costs against a turnover of around £545,000.