cityrebel Posted November 12, 2016 Report Share Posted November 12, 2016 From what I Hear the new owners will make sure debts are paid offthat's good news Quote Link to comment Share on other sites More sharing options...
orion Posted November 12, 2016 Report Share Posted November 12, 2016 From what I Hear the new owners will make sure debts are paid off That means they won't Quote Link to comment Share on other sites More sharing options...
New Science Posted November 12, 2016 Report Share Posted November 12, 2016 (edited) It just staggers me that everything is expected to carry on as normal, despite the previous promotion owing huge amounts of money left, right and centre. If the Belle Vue promoters were not paying any rent and owe the riders a significant amount of money then what exactly were they doing with the money paid by supporters , sponsors and many who forked out 50 quid to buy a brick in the stadium. Edited November 12, 2016 by New Science 1 Quote Link to comment Share on other sites More sharing options...
The White Knight Posted November 12, 2016 Report Share Posted November 12, 2016 If the Belle Vue promoters were not paying any rent and owe the riders a significant amount of money then what exactly were they doing with the money paid by supporters , sponsors and many who forked out 50 quid to buy a brick in the stadium. I was going to get a 'Brick' but I forgot all about it. First time I have ever been happy about my dreadful memory. Quote Link to comment Share on other sites More sharing options...
waiheke1 Posted November 12, 2016 Report Share Posted November 12, 2016 That doesn't make it right though, does it phil. All debts should be honoured before any new promoter takes over.But surely new promoters are simply taking over the license, not the business. Can't see any reason why they would take over the previous promoters debt?From what I Hear the new owners will make sure debts are paid offWith your track record, that's bad news for the creditors! If the Belle Vue promoters were not paying any rent and owe the riders a significant amount of money then what exactly were they doing with the money paid by supporters , sponsors and many who forked out 50 quid to buy a brick in the stadium. This. They must have taken hundreds of thousands over the season on gate receipts. Quote Link to comment Share on other sites More sharing options...
PHILIPRISING Posted November 12, 2016 Author Report Share Posted November 12, 2016 But surely new promoters are simply taking over the license, not the business. Can't see any reason why they would take over the previous promoters debt? With your track record, that's bad news for the creditors! This. They must have taken hundreds of thousands over the season on gate receipts. NO one has suggested the riders haven't been paid at all. I spoke to Mark Lemon, who insisted when he took the job that riders be paid regularly, in Torun he said that there were arrears but that riders were being paid. No doubt Zagar would have got his dosh first. Quote Link to comment Share on other sites More sharing options...
mikebv Posted November 13, 2016 Report Share Posted November 13, 2016 If the Belle Vue promoters were not paying any rent and owe the riders a significant amount of money then what exactly were they doing with the money paid by supporters , sponsors and many who forked out 50 quid to buy a brick in the stadium. Several fans paid £1000 for 'lifetime membership' (good luck with that?).... This got you a saving 'for life' of 25% on a season ticket, a brick with your name on it in the Peter Craven suite and a seat in the Grandstand with your name on.... The last two things didnt happen for several people!!!! "Where have all the flowers gone?" Is a very poignant refrain at this time of year... "Where has all the money gone?" Is maybe also pertinent for BV? Certainly worth looking into I would suggest.... 1 Quote Link to comment Share on other sites More sharing options...
Halifaxtiger Posted November 13, 2016 Report Share Posted November 13, 2016 NO one has suggested the riders haven't been paid at all. I spoke to Mark Lemon, who insisted when he took the job that riders be paid regularly, in Torun he said that there were arrears but that riders were being paid. No doubt Zagar would have got his dosh first. That's pretty much what I got told. Some pay was received but the rider in question was owed a huge amount. The £50 brick payments were honoured because the bricks are in the main entry lobby. No-one can say they were cheated where that is concerned and I am glad I did it. Quote Link to comment Share on other sites More sharing options...
New Science Posted November 13, 2016 Report Share Posted November 13, 2016 That's pretty much what I got told. Some pay was received but the rider in question was owed a huge amount. The £50 brick payments were honoured because the bricks are in the main entry lobby. No-one can say they were cheated where that is concerned and I am glad I did it. You paid £50 for a 10 pence brick which probably cost 5 quid to engrave and mount. The promoters pocketed the other 45 quid Quote Link to comment Share on other sites More sharing options...
Halifaxtiger Posted November 13, 2016 Report Share Posted November 13, 2016 You paid £50 for a 10 pence brick which probably cost 5 quid to engrave and mount. The promoters pocketed the other 45 quid Very cynical but even if you are right I am still not unhappy about it. 2 Quote Link to comment Share on other sites More sharing options...
Phil The Ace Posted November 13, 2016 Report Share Posted November 13, 2016 That means they won't Any deal that the council agree to will have that debts have to be paid up Quote Link to comment Share on other sites More sharing options...
SteveLyric2 Posted November 13, 2016 Report Share Posted November 13, 2016 Just think of all the bricks Poole have paid for over the years?! Allegedly!! :-) Quote Link to comment Share on other sites More sharing options...
Phil The Ace Posted November 13, 2016 Report Share Posted November 13, 2016 Just think of all the bricks Poole have paid for over the years?! Allegedly!! :-) And there is not 1 poole brick on the wall. Quote Link to comment Share on other sites More sharing options...
foamfence Posted November 13, 2016 Report Share Posted November 13, 2016 Any deal that the council agree to will have that debts have to be paid up That would depend on whether the previous promotion is declared bankrupt, if that is the case then a new promoter wouldn't be responsible for any debt. 1 Quote Link to comment Share on other sites More sharing options...
MattK Posted November 13, 2016 Report Share Posted November 13, 2016 Any deal that the council agree to will have that debts have to be paid up Isn't the deal with the council more similar to a lease agreement? A new tenant is not liable for unpaid rent from previous occupants, however the period of the lease will simply be extended. Quote Link to comment Share on other sites More sharing options...
orion Posted November 13, 2016 Report Share Posted November 13, 2016 I though that the council were at fault for the calling off of the opening meeting and that Belle Vue were going get all this Compensation ? Quote Link to comment Share on other sites More sharing options...
Grand Central Posted November 13, 2016 Report Share Posted November 13, 2016 (edited) Any deal that the council agree to will have that debts have to be paid up That cannot be true. The Council can agree to arrangements about fees and monies they themselves are owed as they wish. The BSPA can come to it's arrangements with the old promotion via it's bond and disposal of Speedway 'assets'. But neither can conclude any 'deals' with new promoters that relate to the debts of the old promotion to third parties outside their own domain. Edited November 13, 2016 by Grand Central 1 Quote Link to comment Share on other sites More sharing options...
orion Posted November 13, 2016 Report Share Posted November 13, 2016 Phil the Ace in wrong shocker Quote Link to comment Share on other sites More sharing options...
uk_martin Posted November 13, 2016 Report Share Posted November 13, 2016 .... Can't see any reason why they would take over the previous promoters debt?... To get the keys to the stadium from the landlords, perhaps? How much do people expect Manchester City Council to write-off in owed money? Quote Link to comment Share on other sites More sharing options...
Grand Central Posted November 13, 2016 Report Share Posted November 13, 2016 (edited) To get the keys to the stadium from the landlords, perhaps? How much do people expect Manchester City Council to write-off in owed money? They can only 'write off' debts to themselves. And they are probably not even able to do that, politically or legally. But the monies owed by the previous limited company to various third parties; much of it (apparently) predating the NSS, can be nothing to do with MCC and arrangements with new promoters. Edited November 13, 2016 by Grand Central 1 Quote Link to comment Share on other sites More sharing options...
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