AlanF Posted July 17, 2014 Report Share Posted July 17, 2014 It seems to me as though the future of regular league speedway is hanging in the balance. Being a promoter doesn’t seem to be economically viable, crowds are down and there is not a lot of optimism around the sport. At some point we are going to run out of businessmen willing to throw money at trying to make a go at it. So how do we move forward? I believe that if a club is going to make a loss, then it makes sense to spread that loss over as many people as possible. If supporters could come together and take ownership stakes in a club, then I feel that there would be a much better chance at a future in the sport in the UK. It takes a lot of money to run a club, so it is doubtful that everybody could take part. So here is the plan (please forgive the $ sign but I am in the US and not sure how to get the pound sign on my keyboard): 100 people put in $1,000 to buy a 1% share of the club (or 1,000 people put in $100). This immediately gives our club $100,000 working capital. Buy an underperforming club (e.g. Birmingham). Each member has a cash call of $100 a month from March to October, creating additional cash flow of $10,000 a month during the Season. It would be $10 a month if 1,000 members. Given the above, the club would have to lose over $60,000 to not be self sustaining. Members elect a committee of the membership to oversee the club’s affairs. Committee finds and pays a promoter to front the club. Committee up for election every 3 years. (Every year would give no continuity) Members are able to sell their shares to others. No member would be allowed to own more than 10% of the club Monthly meeting for all members to be updated with the affairs of the club. A pledge for transparency with financials, attendance figures etc, to help other BSF members understand the mechanics of running a speedway club. Members get half price admission to our club. Any of the above points could be altered or deleted. The actual details aren’t the point of this post. The main thrust is that spreading the risk would be a big help and that ownership by the fans would increase the attachment to the club and help it to be successful. The Brummies fans raised $10,000 with no prospect of ownership or say in the running of the club, so I think this would be possible. Thoughts Quote Link to comment Share on other sites More sharing options...
SCB Posted July 17, 2014 Report Share Posted July 17, 2014 Ive often wondered about something like this. It's about finding the right amount/number of people. Too high and you'll not get the required number. Quote Link to comment Share on other sites More sharing options...
Midland Red Posted July 17, 2014 Report Share Posted July 17, 2014 It seems to me as though the future of regular league speedway is hanging in the balance. Being a promoter doesn’t seem to be economically viable, crowds are down and there is not a lot of optimism around the sport. At some point we are going to run out of businessmen willing to throw money at trying to make a go at it. So how do we move forward? I believe that if a club is going to make a loss, then it makes sense to spread that loss over as many people as possible. If supporters could come together and take ownership stakes in a club, then I feel that there would be a much better chance at a future in the sport in the UK. It takes a lot of money to run a club, so it is doubtful that everybody could take part. So here is the plan (please forgive the $ sign but I am in the US and not sure how to get the pound sign on my keyboard): 100 people put in $1,000 to buy a 1% share of the club (or 1,000 people put in $100). This immediately gives our club $100,000 working capital. Buy an underperforming club (e.g. Birmingham). Each member has a cash call of $100 a month from March to October, creating additional cash flow of $10,000 a month during the Season. It would be $10 a month if 1,000 members. Given the above, the club would have to lose over $60,000 to not be self sustaining. Members elect a committee of the membership to oversee the club’s affairs. Committee finds and pays a promoter to front the club. Committee up for election every 3 years. (Every year would give no continuity) Members are able to sell their shares to others. No member would be allowed to own more than 10% of the club Monthly meeting for all members to be updated with the affairs of the club. A pledge for transparency with financials, attendance figures etc, to help other BSF members understand the mechanics of running a speedway club. Members get half price admission to our club. Any of the above points could be altered or deleted. The actual details aren’t the point of this post. The main thrust is that spreading the risk would be a big help and that ownership by the fans would increase the attachment to the club and help it to be successful. The Brummies fans raised $10,000 with no prospect of ownership or say in the running of the club, so I think this would be possible. Thoughts Sorry, I don't have any dollars! Quote Link to comment Share on other sites More sharing options...
ColinMills Posted July 18, 2014 Report Share Posted July 18, 2014 id be in if you find enuf people!! Quote Link to comment Share on other sites More sharing options...
Paddi Posted July 18, 2014 Report Share Posted July 18, 2014 id be in if you find enuf people!! Me too! Quote Link to comment Share on other sites More sharing options...
screm Posted July 18, 2014 Report Share Posted July 18, 2014 Sounds are great idea, but it would take some setting up but if we could get it going it would be a huge positive from this forum. Quote Link to comment Share on other sites More sharing options...
FAST GATER Posted July 18, 2014 Report Share Posted July 18, 2014 Wasn't the Isle of White run in a similar fashion? Quote Link to comment Share on other sites More sharing options...
The White Knight Posted July 18, 2014 Report Share Posted July 18, 2014 Wasn't the Isle of White run in a similar fashion? Something similar - at look what happened to that. :sad: Quote Link to comment Share on other sites More sharing options...
AlanF Posted July 18, 2014 Author Report Share Posted July 18, 2014 Wasn't the Isle of White run in a similar fashion? I believe Isle of Wight didn't worek because too much of the financial burden was placed on one person and he didn't want to carry the load anymore. Point 9 of my proposal suggests that no person could own more than 10% of the club. Quote Link to comment Share on other sites More sharing options...
pandorum Posted July 18, 2014 Report Share Posted July 18, 2014 Very laudable idea but sadly it will never happen. Your problems would start as soon as you bought a club and running a business by committee a recipe for disaster. Pie in the sky but best of British with the idea and I hope you feed me some humble pie when you have the best run club in British speedway. I sincerely wish you good luck with it. 1 Quote Link to comment Share on other sites More sharing options...
FAST GATER Posted July 18, 2014 Report Share Posted July 18, 2014 (edited) t Very laudable idea but sadly it will never happen. Your problems would start as soon as you bought a club and running a business by committee a recipe for disaster. Pie in the sky but best of British with the idea and I hope you feed me some humble pie when you have the best run club in British speedway. I sincerely wish you good luck with it. Don't forget the "boys club"that run this sport or try anyway in their own inept manner, they will do their best to wreck any half decent idea that might threaten to help or improve the sport . Edited July 18, 2014 by FAST GATER 2 Quote Link to comment Share on other sites More sharing options...
AlanF Posted July 18, 2014 Author Report Share Posted July 18, 2014 t Don't forget the "boys club"that run this sport or try anyway in their own inept manner, they will do their best to wreck any half decent idea that might threaten to help or improve the sport . Very little response to the thread anyway, so I doubt the "boys club" have to worry. Quote Link to comment Share on other sites More sharing options...
pandorum Posted July 18, 2014 Report Share Posted July 18, 2014 Well to be honest mate surely you did not expect even 10 people to invest without a sound business plan. Very little response to the thread anyway, so I doubt the "boys club" have to worry. Quote Link to comment Share on other sites More sharing options...
AlanF Posted July 18, 2014 Author Report Share Posted July 18, 2014 Well to be honest mate surely you did not expect even 10 people to invest without a sound business plan. Wasn't asking anybody to invest. Just seeing if there was any interest. Obviously there would need to be a ton of work done before even thinking about asking anybody for money. Quote Link to comment Share on other sites More sharing options...
pandorum Posted July 19, 2014 Report Share Posted July 19, 2014 Wasn't asking anybody to invest. Just seeing if there was any interest. Obviously there would need to be a ton of work done before even thinking about asking anybody for money. Of course you were asking people to invest or what was the point of the first post. You were seeing if there was any interest in giving a 100 or 1000 towards your idea to purchase a speedway club'. Sadly the ton of work would need to be done before starting such a thread. Laudable idea yes indeed but your 12 points are pretty naïve to be honest without some sort of actual plan as to how this would work financially. Point 12 being particularly silly. I wished you good luck and I meant it but it was never going to happen in reality. Quote Link to comment Share on other sites More sharing options...
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