Guest Posted December 31, 2013 Report Share Posted December 31, 2013 Of course what complicates things is that speedway is part of the name of the company and was set up to run speedway so how will the majority of the shareholders feel when the company is not running speedway anymore. I suppose they will feel agrieved but unless somebody comes up with cash to run it, what else can they do? Could they cash in their shares and what effect would that have? I suppose the best way to find the value of a share is to search via the internet? Quote Link to comment Share on other sites More sharing options...
THE DEAN MACHINE Posted December 31, 2013 Report Share Posted December 31, 2013 I suppose the best way to find the value of a share is to search via the internet? the share is worth nothing unless the isle of wight starts making millions . Nobody brought shares to make money it was to keep the isle of wight running 2 Quote Link to comment Share on other sites More sharing options...
van wolfswinkel Posted January 5, 2014 Report Share Posted January 5, 2014 Friendly club..nice little stadium. but little crowd of about 200 when I was there 2 years ago. Little passing on their massive track. Good luck to the Islanders. Wightlink buy the fence for 'em! Quote Link to comment Share on other sites More sharing options...
Lord Skid Posted January 6, 2014 Report Share Posted January 6, 2014 well it is run as one with the other stuff but the bloke who runs it dosent want to run the speedway anymore because thats the bit which is losing money. He is more than happy for speedway to continue but dosent want to finace it himself Getting nearer the truth now, sounds a bit like asset stripping to me, IOW was always one big pot, the bar and catering on race night was a very nice little earner, the scooter rally more than balanced the books, shame that the original consortium are no longer involved, as they were a great group of local businessmen. 1 Quote Link to comment Share on other sites More sharing options...
Guest Posted January 6, 2014 Report Share Posted January 6, 2014 Leaving the IoW speedway topic to one side at the moment, has any advance information been released as to what other events will be or are taking place at Smallbrook Stadium during 2014? And as always - fingers crossed that a way will be found to keep the speedway alive. Quote Link to comment Share on other sites More sharing options...
Bryn Posted January 6, 2014 Report Share Posted January 6, 2014 Leaving the IoW speedway topic to one side at the moment, has any advance information been released as to what other events will be or are taking place at Smallbrook Stadium during 2014? And as always - fingers crossed that a way will be found to keep the speedway alive. To obtain the info you're after, might I respectfully suggest that you try telephoning the stadium during normal office hours on 01983 811180. Quote Link to comment Share on other sites More sharing options...
iris123 Posted January 6, 2014 Report Share Posted January 6, 2014 Leaving the IoW speedway topic to one side at the moment,How dare you go off topic!!!!!! Grrrrrr.Mods!,Mods!!! 2 Quote Link to comment Share on other sites More sharing options...
Guest Posted January 6, 2014 Report Share Posted January 6, 2014 (edited) Leaving the IoW speedway topic to one side at the moment, has any advance information been released as to what other events will be or are taking place at Smallbrook Stadium during 2014? And as always - fingers crossed that a way will be found to keep the speedway alive. To obtain the info you're after, might I respectfully suggest that you try telephoning the stadium during normal office hours on 01983 811180. Thanks Bryn. I didn't want the information for personal information to attend ayhthing but to see what other activities might be set to take place at Smallbrook Stadium this summer. I thought there may have been a website fixture list - I tried to find one via Google but was unlucky. Perhaps what I am looking for is not within the general remit of the thread anyway so best forgotten by me. If I go to Wimbledon Stadium for example while sadly there's no speedway at Plough Lane, other events taking place there are itemised. Anyway - all hopes are to find a way for speedway to continue on the IoW. Edited January 9, 2014 by Guest Quote Link to comment Share on other sites More sharing options...
Lord Skid Posted January 8, 2014 Report Share Posted January 8, 2014 (edited) Wow, he must be a very powerful Chairman, to be able to make such important changes, as long as I can remember, Speedway was the reason that the whole setup existed , and why the shareholders invested in the first place, seems like time for an EGM and get the Club back on track, where it belongs, and back in the PL and not the NL. Sorry editor didn't work, Speedway on it's own will never pay on the IOW, but as part of the whole package, and run correctly, would definitely be viable, but unfortunately too many bridges may have been burnt in the past, but if these can be repaired IOW could have a good future. Edited January 8, 2014 by Lord Skid Quote Link to comment Share on other sites More sharing options...
Guest Posted January 8, 2014 Report Share Posted January 8, 2014 Wow, he must be a very powerful Chairman, to be able to make such important changes, as long as I can remember, Speedway was the reason that the whole setup existed , and why the shareholders invested in the first place, seems like time for an EGM and get the Club back on track, where it belongs, and back in the PL and not the NL. Sorry editor didn't work, Speedway on it's own will never pay on the IOW, but as part of the whole package, and run correctly, would definitely be viable, but unfortunately too many bridges may have been burnt in the past, but if these can be repaired IOW could have a good future. Power just might depend on what shareholding the chairman has. Quote Link to comment Share on other sites More sharing options...
Lord Skid Posted January 8, 2014 Report Share Posted January 8, 2014 Isn't the Chairman just the elected head of the committee, no special powers, same as the Treasurer or Secretary, I thought the minimum share uptake was enough to vote, doesn't matter if you own a thousand shares or the minimum amount, a shareholder gets one vote. But no doubt it's not as simple as it appears. Quote Link to comment Share on other sites More sharing options...
crazyb Posted January 8, 2014 Report Share Posted January 8, 2014 I didn't know that, I am sure the bar and catering at least was once income for the Speedway. That could explain why the Speedway has been struggling so much the past couple of years. Bit like Peterborough, everything but admission goes to the EoES, and has done for a long time since the regime changed about ten years ago. Up till then speedway was viable, but when something is run by the clueless then common sense and fair play go out the window. Quote Link to comment Share on other sites More sharing options...
Bryn Posted January 8, 2014 Report Share Posted January 8, 2014 Power just might depend on what shareholding the chairman has. Not at all "gustix" as Island Speedway (IOW) Ltd was set up on the basis that you had one equal vote on matters whether you held five (the minimum amount) or 500 shares. The next Shareholders meeting (which I'm not alone I suspect in feeling that it'll somewhat lively!) will take place at Smallbrook on Tuesday January 21 at 7pm. Quote Link to comment Share on other sites More sharing options...
Guest Posted January 8, 2014 Report Share Posted January 8, 2014 (edited) not really - its just credit - they'd have to pay it back those who have already purchasrd avoid that burdon The SKY money is surely to actually benefit promoters who are putting on the meetings for TV. If they don't get a share of that kitty what's the point of them staging TV meetings. Like it or not, as I see it - and rightfully so - the only beneficiaries are/should be promoters involved in hosting TV meetings, not as some generalised kitty pot for things like Air Fences. Not at all "gustix" as Island Speedway (IOW) Ltd was set up on the basis that you had one equal vote on matters whether you held five (the minimum amount) or 500 shares. The next Shareholders meeting (which I'm not alone I suspect in feeling that it'll somewhat lively!) will take place at Smallbrook on Tuesday January 21 at 7pm. Thank you for the clarification. Just fingers crossed for good news on January 21 then? Edited January 8, 2014 by Guest Quote Link to comment Share on other sites More sharing options...
Lord Skid Posted January 8, 2014 Report Share Posted January 8, 2014 Bit like Peterborough, everything but admission goes to the EoES, and has done for a long time since the regime changed about ten years ago. Up till then speedway was viable, but when something is run by the clueless then common sense and fair play go out the window. Not at all like Peterborough, no rent to pay, bar and catering income, multi-use venue with all income to Club, year round income, massive potential support during the holiday season. Quote Link to comment Share on other sites More sharing options...
Guest Posted January 8, 2014 Report Share Posted January 8, 2014 Not at all like Peterborough, no rent to pay, bar and catering income, multi-use venue with all income to Club, year round income, massive potential support during the holiday season. Massive potential support. I assume you mean for speedway? But in recent years only around 120-200 crowds. I hope IoW is saved but how will the extra fans that are obviously needed be enticed to watch the sport. I hope that potential can be further maximised if the January 21 meeting votes to save speedway racing at Smallbrook Stadium. Quote Link to comment Share on other sites More sharing options...
Chris Brown Posted January 8, 2014 Report Share Posted January 8, 2014 Friendly club..nice little stadium. but little crowd of about 200 when I was there 2 years ago. Little passing on their massive track. Good luck to the Islanders. Wightlink buy the fence for 'em! Problem is that Wightlink are struggling I believe having in recent months asked for people to take voluntary redundancy I guess there isn't £20k kicking around Quote Link to comment Share on other sites More sharing options...
Lord Skid Posted January 9, 2014 Report Share Posted January 9, 2014 Didn't realise they were struggling, with such a captive client base, without either Wightlink or Red Funnel providing crossings free of charge, then there's no point in buying an air fence, as Speedway is finished, if you say £70 per van, that's over 1k per meeting, just for riders transport, that's without paying mileage etc. Quote Link to comment Share on other sites More sharing options...
Great Central Posted January 9, 2014 Report Share Posted January 9, 2014 (edited) The SKY money is surely to actually benefit promoters who are putting on the meetings for TV. If they don't get a share of that kitty what's the point of them staging TV meetings. Like it or not, as I see it - and rightfully so - the only beneficiaries are/should be promoters involved in hosting TV meetings, not as some generalised kitty pot for things like Air Fences. I agree but in reality it has passed through the promoters hands very quickly, paying un-realistic wages for EL riders. A portion should have been held back, like football does from their TV money, to support the sport at grass roots level and to support the development of the sport. Wow, he must be a very powerful Chairman, to be able to make such important changes, as long as I can remember, Speedway was the reason that the whole setup existed , and why the shareholders invested in the first place, seems like time for an EGM and get the Club back on track, where it belongs, and back in the PL and not the NL. Sorry editor didn't work, Speedway on it's own will never pay on the IOW, but as part of the whole package, and run correctly, would definitely be viable, but unfortunately too many bridges may have been burnt in the past, but if these can be repaired IOW could have a good future. It seems from what little I have found out to be a very complex situation and if anyone could offer the shareholders some advice on company law, I am sure it would be appreciated because as Bryn has stated it could be a fiery and emotional meeting on the 21st January. The air fence purchase was just a smoke screen since there were solutions and financing offered to get round it. Currently there is nearly 50% raised in pledges and there are still untapped sponsorship opportunities. The real problem has been low attendances and higher costs than some other clubs incur but when the Chairman or someone else appears not to want to improve matters in respect of the speedway element of the club, maybe even working against the aims of the club in that respect, the shareholders are in a tricky position. One wrong move could see the club fall into the wrong hands. I don't think it is as easy as voting out the Chairman and Directors and you only have to check how many changes in directorship there have been lately to know that things aren't right at the top. Great club and a great sponsor in Wightlink - just a pity that it has been steered down the wrong path. Edited January 9, 2014 by Great Central 1 Quote Link to comment Share on other sites More sharing options...
THE DEAN MACHINE Posted January 9, 2014 Report Share Posted January 9, 2014 The cut down situation is this .the club lost around £20,000 and apart from the money raised for the airfence there is no money left in the pot .the shareholders money has kept the sport going till now but unless someone comes in and has money to burn it cant carry on . The chairman has put nearly £100,000 in over a number of years ,its not that he dosent want to run speedway he just dosent want to put any more of his own money in. The 100-120 crowd levels are out of summer season and crowds are better in july-august. The IOW had an expensive team last season and the with a cheaper team yes the losses will be less but it still will be loss unless someone can turn crowd numbers round but that someone has got to be prepared to lose money. There is no miss management or any other issues stopping speedway ,its just the fact that as it is at the moment is not finacially viable . Nobody including the chairman or any of the share holders want the IOW to close but unless money is found to carry on it looks inevitable. If i had the money i would do it myself but i dont and nobody seems to coming forward with offers 1 Quote Link to comment Share on other sites More sharing options...
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