Masarna in Financial Trouble.....

[jeffster]

Just read this : (http://www.speedwayworld.tv/en/swedishleague/a3717)

 

 

MASARNA ASKING FOR ECONOMICAL AID

Despite this year’s success on the track, Masarna is on the verge of an economical crisis. The club has now asked the municipality for help with a loan of 1 850 000 SEK (approx. 140 000 £).

 

It is local paper Dala-Demokraten that reveals the troubles of Tony Rickardsson’s Masarna. This summer two private persons offered the sum mentioned above as a loan when the club had acute problems with liquidity.

 

Masarna accepted the offer but would now like to pay back the money to the benefactors, by way of a loan from the municipality. They are hoping for the community leaders to appreciate the team’s importance to the area and put up the money without any demand for interest.

 

Both lower income and higher expenses are behind the economical difficulties. The latter is mainly due to the success on the track: Almost every rider in the team has ridden above their average and the club has paid a record high amount of salary in 2,9 million SEK.

 

On the income side it is mainly the rainy summer and lower attendance that are visible in the books. The club’s revenue was one million SEK bellow budget and of course that makes for problems when the margins are tight.

 

Worth mentioning, though, is the fact that the club has claims of approximately one million SEK on sponsors and others, making the real debt a great deal smaller.

 

More positive is that Fredrik Lindgren finally has decided to stay with Masarna. This means that Bjarne Pedersen, who recently won the Elite league riders championship in the U.K., will have to leave the club. The Danish star will have no problems in finding a new club, though, as both Vargarna and Bajen Speedway are said to be after his signature.

[osn]

Bjarne is riding for Västervik next year, he has allready signed, look at this link:

 

 

http://www.pedersenracing.com/arkivUK/2004...ract_sweden.htm