Skidder1 Posted November 24, 2015 Report Share Posted November 24, 2015 Looks like the bond may actually be 50k for next season which is a lot of money to lose but how much would you lose with a uncompetitive side and having to pay riders over the odds. A very careful decision has to be made about what to do the next signing i have been hearing about is not at top end but a PL 3rd heatleader £50k would be a lot for any Promotion to cough up, unless as a business 'losing money' they still manage a decent relationship with their bank managers??? Quote Link to comment Share on other sites More sharing options...
Hamish McRaker Posted November 24, 2015 Report Share Posted November 24, 2015 Looks like the bond may actually be 50k for next season which is a lot of money to lose but how much would you lose with a uncompetitive side and having to pay riders over the odds. A very careful decision has to be made about what to do the next signing i have been hearing about is not at top end but a PL 3rd heatleader What does this bond cover? Is it surety to cover just any monies owed at the time a team withdraws from the league, or does it also include an element of indemnity for the other clubs in the league to cover costs/loss of income associated with cancellation of home match fixtures? Does it also include such as cover for possible third-party liabilities? Quote Link to comment Share on other sites More sharing options...
flagrag Posted November 24, 2015 Report Share Posted November 24, 2015 I will be honest I am not sure of all the ins and outs of the bonds. But it is there to cover money owed to home riders and also to away clubs that are owed money from matches rode. Most clubs pay their home riders every week or two but some are not as good, the same goes for away matches some clubs pay fast some take ages. This I where some clubs get into cash flow problems when matches get rained off but away don't as they are having to pay their riders for these matches with sometimes not being pAid by the other club as well as topping up riders money from the standard BSPA rates .As far as I am aware there is no cover for loss of potential income as have less matches to stage. Quote Link to comment Share on other sites More sharing options...
Hamish McRaker Posted November 24, 2015 Report Share Posted November 24, 2015 I will be honest I am not sure of all the ins and outs of the bonds. But it is there to cover money owed to home riders and also to away clubs that are owed money from matches rode. Most clubs pay their home riders every week or two but some are not as good, the same goes for away matches some clubs pay fast some take ages. This I where some clubs get into cash flow problems when matches get rained off but away don't as they are having to pay their riders for these matches with sometimes not being pAid by the other club as well as topping up riders money from the standard BSPA rates .As far as I am aware there is no cover for loss of potential income as have less matches to stage. Appreciate the explanation and acknowledge you're not completely sure of the full rules. But if what you say is roughly right, it would mean that if a team withdraws from the league during the winter, and is up to date with rider payments, their bond would remain intact and even refundable if it were a permanent withdrawal from the league by that team/promotion? Quote Link to comment Share on other sites More sharing options...
Humphrey Appleby Posted November 24, 2015 Report Share Posted November 24, 2015 Appreciate the explanation and acknowledge you're not completely sure of the full rules. But if what you say is roughly right, it would mean that if a team withdraws from the league during the winter, and is up to date with rider payments, their bond would remain intact and even refundable if it were a permanent withdrawal from the league by that team/promotion? It used to be covered in the rule book. I believe the bond used to be returnable if a promotion completed the season and had settled any outstanding debts. If there any debts not covered by the bond, the promotion's rider assets can be sold by the BSPA. Quote Link to comment Share on other sites More sharing options...
flagrag Posted November 24, 2015 Report Share Posted November 24, 2015 That's correct the bond gets returned back at the end of the season for the clubs along with their share of the BSPA payout e.g shared events,Sky money and any profits the organisation has gained by having all this money in the bank. The clubs did used to keep this money bond for most of the winter and then just pay the following seasons in February but now it has to be lodged just after the AGM as it is now a considerable amount clubs obviously list it as an asset of the business. If Leicester were to pull the plug altogether its likely that the BSPA would keep it and then return to other clubs as profit at season end,if another Promotor was to come in they would possibly look at moving it over as they would be buying the club which one of its assets is the bond along with Wozniak,Graverson and maybe Sam Masters Quote Link to comment Share on other sites More sharing options...
Hamish McRaker Posted November 24, 2015 Report Share Posted November 24, 2015 I wonder how long,from after the AGM ends, clubs are allowed to go before they have to pay up the money? If a club drags its heels in making the payment, there is presumably a deadline after which the league place is forfeited if the payment hasn't been forthcoming. Or is the AGM itself the absolute deadline? Quote Link to comment Share on other sites More sharing options...
lionking Posted November 25, 2015 Report Share Posted November 25, 2015 What am i missing while i am out of the country in the usa with my family ? I understand that the club has paid their bond for 2016 but not quite the 50k being quoted. Leicester have 2 options realistic options 1. Run in the EL with whatever sort of side they can get together. 2. Withdraw from the league & lose the huge amount of money they have paid in a bond which would more then likely fold the club. If we were to change our racenight then we would get a half decent team together & also would have had Doyle in 2016 but we all know DH won't change it so there is no point in going on about it. I feel a few myths need to be cleared up & some people need to get realistic. We can not just say we can't raise a team in the EL so we are dropping down to PL. As much as people say DH should sell it to someone for a fair price . To who no-one wants to invest any money into UK speedway when the best riders do not ride here anymore. No-one can expect DH to sell the club at a loss having spoken to him prior to my departure to the USA , if someone was to offer him to buy the club for a price that would mean DH got all his investment back then he would sell without making 1p from the sale. In the real world that isn't going to happen. On the team front i am told deal's have been offered to 4 riders 2 ex lions who they are hopeful will sign 1 GB international who is keen but it would require him doing alot of miles over a weekend 1 ex GP rider who is keen but want's to have his european schudule confirmed before signing. Walasek also turned down 2 attempts from Coventry to sign for the bee's, who also enquired about Wozniak's availbility . Quote Link to comment Share on other sites More sharing options...
flagrag Posted November 25, 2015 Report Share Posted November 25, 2015 LionKing you are spot on with the possible signings the GB international has not got to really do any extra miles to do Leicester on a Saturday as will be coming via the Midlands from his south west base to race for his PL club on Sunday's although not sure how keen they will be on this arrangement as both man and equipment may not be as good if he just rides for them. This rider also needs to be careful with wage demands so does not price himself out as knows Leicester are desperate. The latest I have heard on the 2015 GP star is he is waiting to see if any club comes in for him from Poland if nothing happens or money not good enough he will come to Leicester. The Ex Lions will happen just a case of confirming arrangements with their parent clubs I am sure most know who these are but still no top end rider to lead the team which is the biggest worry Quote Link to comment Share on other sites More sharing options...
Game On Posted November 25, 2015 Report Share Posted November 25, 2015 LionKing you are spot on with the possible signings the GB international has not got to really do any extra miles to do Leicester on a Saturday as will be coming via the Midlands from his south west base to race for his PL club on Sunday's although not sure how keen they will be on this arrangement as both man and equipment may not be as good if he just rides for them. This rider also needs to be careful with wage demands so does not price himself out as knows Leicester are desperate. The latest I have heard on the 2015 GP star is he is waiting to see if any club comes in for him from Poland if nothing happens or money not good enough he will come to Leicester. The Ex Lions will happen just a case of confirming arrangements with their parent clubs I am sure most know who these are but still no top end rider to lead the team which is the biggest worry Ben Barker Quote Link to comment Share on other sites More sharing options...
Phil The Ace Posted November 25, 2015 Report Share Posted November 25, 2015 (edited) Ben BarkerClearly And the 2015 GP rider THJ Edited November 25, 2015 by Phil The Ace 1 Quote Link to comment Share on other sites More sharing options...
mrcts Posted November 25, 2015 Report Share Posted November 25, 2015 (edited) Clearly And the 2015 GP rider THJ As long as it's not Batchelor. Clearly And the 2015 GP rider THJ Edited November 25, 2015 by mrcts Quote Link to comment Share on other sites More sharing options...
SCB Posted November 25, 2015 Report Share Posted November 25, 2015 Clearly And the 2015 GP rider THJ The clue was GP star so it can't be THJ Quote Link to comment Share on other sites More sharing options...
Phil The Ace Posted November 25, 2015 Report Share Posted November 25, 2015 The clue was GP star so it can't be THJ Ouch Haha Yeh forgot about batch Quote Link to comment Share on other sites More sharing options...
Steve0 Posted November 25, 2015 Report Share Posted November 25, 2015 As long as it's not Batchelor. Beggars cant be choosers Quote Link to comment Share on other sites More sharing options...
mikebv Posted November 25, 2015 Report Share Posted November 25, 2015 I will be honest I am not sure of all the ins and outs of the bonds. But it is there to cover money owed to home riders and also to away clubs that are owed money from matches rode. Most clubs pay their home riders every week or two but some are not as good, the same goes for away matches some clubs pay fast some take ages. This I where some clubs get into cash flow problems when matches get rained off but away don't as they are having to pay their riders for these matches with sometimes not being pAid by the other club as well as topping up riders money from the standard BSPA rates .As far as I am aware there is no cover for loss of potential income as have less matches to stage. I may be wrong, but didn't the rules change that each team are now solely responsible for paying their riders themselves from their home meetings?? Seem to remember that too many clubs were not getting money quickly enough from the 'home' team when they rode away, meaning too much of a delayed payment to the riders, hence this system was scrapped.. Quote Link to comment Share on other sites More sharing options...
Shale Searcher Posted November 25, 2015 Report Share Posted November 25, 2015 It actually said ex 2015 gp star. Quote Link to comment Share on other sites More sharing options...
SCB Posted November 25, 2015 Report Share Posted November 25, 2015 It actually said ex 2015 gp star. Which is an oxymoron. If they were a star, they'd still be in the GPs would they not? Quote Link to comment Share on other sites More sharing options...
beckettlion Posted November 25, 2015 Report Share Posted November 25, 2015 If a team made up of the suggestions made on here (or my interpretation of them) looks something along the lines of: 1) THJ 2) Masters 3) Walasek 4) Barker (although personally I'd like us to try and get Klindt first) 5) Wozniak 6) Auty 7) Starke I don't think we'd be quite as weak as everyone is suggesting. That team would give the already announced Coventry septet a fair meeting I think. Hopefully, with the race structure remaining the same, our particularly strong reserve pairing should give us an advantage in most meetings (with the possible exception of Poole). I wouldn't be an unhappy Lions supporter if we were to field a septet of this quality. Quote Link to comment Share on other sites More sharing options...
ShropWolf Posted November 27, 2015 Report Share Posted November 27, 2015 (edited) Klindt has signed for Rye House who ride Saturday's. Edited November 27, 2015 by ShropWolf Quote Link to comment Share on other sites More sharing options...
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