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Agreed - but he does have considerable rider assets (approx 20 current riders by my calculation) as to what they are actually worth is anyone guess.

 

Therefore what is someone prepared to pay to transfer the ownership of these assets and then negotiate hiring the EOES to stage speedway... ?

 

With no current debts according to Rick Frost - just how much Wonga will it tempt him to sell the Panthers - surely anything in better than nothing in this economic climate...

 

Rick Frost could be stubborn and dig his heels in and maybe get some sort of return on his Panthers Project or write the investment off for the good for the Peterborough fans of Speedway and let someone else have a crack!

 

Agreed - but he does have considerable rider assets (approx 20 current riders by my calculation) as to what they are actually worth is anyone guess.

 

Therefore what is someone prepared to pay to transfer the ownership of these assets and then negotiate hiring the EOES to stage speedway... ?

 

With no current debts according to Rick Frost - just how much Wonga will it tempt him to sell the Panthers - surely anything in better than nothing in this economic climate...

 

Rick Frost could be stubborn and dig his heels in and maybe get some sort of return on his Panthers Project or write the investment off for the good for the Peterborough fans of Speedway and let someone else have a crack!

 

 

YOU are still missing the real point here... we are assuming, for the sake of argument, that riders cannot be classified as assets. If Rick Frost has no current contract with them and isn't paying them then what right has he to effectively sell them?

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Totally correct Phil.....the only problems in all of this would the 1. The Showground who just may say "No more"...and any incoming tennant would need some form of guarantee on a lease 2.What price Mr Frost would set on his assets. 3. If the business has lost money...then what level headed buyer would pay good money for it ?..4.I would suggest that any incoming prospective promoter must not have the name of Ribbans !!!

Mr Frost can put any value he likes on his assets,the true value is what someone is willing to pay for the.

 

Can Frost retain his assets and simply loan his riders out to other clubs,and if so does Frost recieve the loan payment.Ok it wouldnt be massive amounts but it seems to me theres easy money to be made if he would get loan fees.

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YOU are still missing the real point here... we are assuming, for the sake of argument, that riders cannot be classified as assets. If Rick Frost has no current contract with them and isn't paying them then what right has he to effectively sell them?

Does Rick Frost have an agreement on the lease of the Showground for Speedway though,it might mean that until it ends he has control who can run the sport at the Showground,Just a Question
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YOU are still missing the real point here... we are assuming, for the sake of argument, that riders cannot be classified as assets. If Rick Frost has no current contract with them and isn't paying them then what right has he to effectively sell them?

Probably the same right as those who insisted he had to buy the assets in the first place.

 

An interesting can of worms if Mr Frost decides to pursue matters via the courts.

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They have had a few calls of interest to the Pboro evening telegraph today so fingers crossed all is not lost.

Posh Panther,

 

I hope your source is correct, as this is promising compared to last 24hrs.

but you havent been adverse to Frosty burning his ? maybe you will become a casual fan, just watching Speedway for the sake of Speedway, rather than following one team come what may.

 

I am not sure what to think, I am just not going to criticise a guy who has put endless £ into the club without knowing the facts.

 

Just like 2010 and I do not direct this point at you but many poster's slated Pboro and who knew the facts.

 

All we heard before the AGM was big changes, more teams etc

 

We have the same teams in league, may have lost 1 for good and the change was a poor 1.

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HERE'S another hypothetical scenario ...

 

You work in a local shop, which is rented by the owner of the business. One day he comes in and says he is closing it down, walks away leaving you out of work.. A few days later someone else rents the shop and offers you employment, which you accept. But then the previous owner demands a fee from the new owner for your employment.

 

Surely, that in effect is the situation facing the current Peterborough riders?

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HERE'S another hypothetical scenario ...

 

You work in a local shop, which is rented by the owner of the business. One day he comes in and says he is closing it down, walks away leaving you out of work.. A few days later someone else rents the shop and offers you employment, which you accept. But then the previous owner demands a fee from the new owner for your employment.

 

Surely, that in effect is the situation facing the current Peterborough riders?

 

Couldn't give a stuff tbh, more interested in the bigger picture, the rest will sort itself out!

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My sincere condolences to the Peterborough fans on here with the news of the closure of the EOES. Like many have already said, great track, excellent viewing.

 

Its refreshing also to see there are no KKS type posters who see this as an opportunity to take a cheap snipe as per the Swindongate affair in the summer.

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Couldn't give a stuff tbh, more interested in the bigger picture, the rest will sort itself out!

I agree 100% and I,m a Lynn fan but am a regular at the Showground most weeks - the main thing is to find a new owner as any speedway fan should not want this club to die its one of the best race tracks in the UK and will be a massive loss to the EL in 2014 , as for the rights and wrongs of who owns or don't own the rider assets that's for another day .
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HERE'S another hypothetical scenario ...

 

You work in a local shop, which is rented by the owner of the business. One day he comes in and says he is closing it down, walks away leaving you out of work.. A few days later someone else rents the shop and offers you employment, which you accept. But then the previous owner demands a fee from the new owner for your employment.

 

Surely, that in effect is the situation facing the current Peterborough riders?

You are confusing rented v purchased, consider it a loan v transfer. Surely the argument is with the club that sold their soul??? Right or wrong they took cash for ownership.

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YOU are still missing the real point here... we are assuming, for the sake of argument, that riders cannot be classified as assets. If Rick Frost has no current contract with them and isn't paying them then what right has he to effectively sell them?

 

As Hodgy has broken formation, and still not giving a stuff, if he purchased them then he has the right? Surely now is no different to when Horton sold it to him,

 

NEW Panthers chief Rick Frost has issued a seven word statement of intent after assuming control of the city club.Berkshire-based plant hire businessman Frost completed his takeover – which included the purchase of all Peterborough assets – from previous owner Colin Horton over the weekend after lengthy negotiations.

Edited by Crump99
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HERE'S another hypothetical scenario ...

 

You work in a local shop, which is rented by the owner of the business. One day he comes in and says he is closing it down, walks away leaving you out of work.. A few days later someone else rents the shop and offers you employment, which you accept. But then the previous owner demands a fee from the new owner for your employment.

 

Surely, that in effect is the situation facing the current Peterborough riders?

I understand entirely the point you are making Philip, but it doesn't exactly paint a very attractive picture to any prospective purchaser of Peterborough Speedway. Hypothetical scenario... A new promoter/owner comes in to run the club and doesn't have to purchase/use the current riders/assets. Would the new owner be prepared to purchase assets/riders if in the event he decides to sell after a year, the riders are worthless? So the new owner would only be prepared to loan riders I would think, how is that going to work. You can't suddenly change a system that has been 'working' for many years without a lot of fallout.

Perhaps Swindon would be happy to loan it's assets to the new owner?!!

Edited by TesarRacing
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I have always defended RF as he and Peterborough have been serially shafted by those in charge and also lost money. I am not surprised that he has walked away. What I cannot forgive is the way it has been done and the timing, virtually ensuring no Panthers next season even if a buyer could be found. From this point of view he is far worse than previous owners. They at least found a buyer before leaving Panthers in the lurch.

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