The Collapse Of The Pound And The Effect On The El

[iris123]

A thought that went through my mind when the drop in the pound was announced.Must make it harder to negotiate a contract for next season at the moment.No foreign rider will want to sign on the same terms as this year and possibly make a large loss,so will be asking for more........

[Sidney the robin]

Is there much difference now between EL and PL Leicester's line up this year really was of PL standard.Apart from the GP rider's who let's be honest in Britain are not un beatable alot of the others ride PL.So what live top class speedway do you watch S.S.?

Edited October 8, 2016 by Sidney the robin

[Perton Wolf]

Thats ok if you want to watch NL or perhaps PL speedway. Most EL fans want to see the best, not young wobblers.

So lobby the Govt to have a fair immigration policy for speedway riders.

 

PL footballers get here easy enough.

Nothing wrong with it if that's what you like to watch. Personally I like to watch a higher class of racing and the GPs.

I only watch EL speedway too but there's no reason why we can't develop our own riders and supplement the elite league with top foreign riders - regardless of whether we are in the EU or not.

 

Poole had Bjarne Pedersen at reserve this season, if leaving the EU helps to stop ridiculous things like this then great. That reserve spot could've been used by a young and promising British rider, not a declining Danish rider looking for extra income. There should be questions asked when a foreign rider comes over here, such as where and how often they are going to ride etc.

Edited October 8, 2016 by Perton Wolf

[Steve Shovlar]

So lobby the Govt to have a fair immigration policy for speedway riders.

PL footballers get here easy enough.

You are completely missing the point of the original message. This has nothing to do with riders not being able to ride here because of brexit and immigration.

 

It has everything to do with the huge drop in the value of the pound to the euro.

Edited October 8, 2016 by Steve Shovlar

[Perton Wolf]

You are completely missing the point of the original message. This has nothing to do with riders not being able to ride here because of brexit and immigration.

 

It has everything to do with the huge drop in the value of the pound to the euro.

You think riders are going to decide upon racing in the UK based on forever fluctuating currency?

 

I don't think that will even be a factor in their decision making. The pound has fell in value yes but has not collapsed, if it was to do so then it may be a consideration point. It will probably be back up in a few weeks time and then go down.......

[DWP]

The fall in the pound to the Euro and other euro currencies is very advantageous to those UK based riders ( who live, pay tax and Vat in the UK ) and who ride in Poland, Sweden and Denmark. The Zloty, Swedish and Danish kronor are linked to the euro. These are the currencies they are paid in, in these countries before international bank transfer to their UK bank account. With the pound falling this is giving them a 10% plus pay rise when money transferred to the UK. However what the pound/euro rate will be come summer 2017, is anyone's guess. Of course a rider, who races here but lives on mainland Europe and has his pay transferred to his European account, will lose out by the same amount.

[arnieg]

You think riders are going to decide upon racing in the UK based on forever fluctuating currency?..

Yes - because it has happened before. Bernt Persson and Bengt Jansson both abandoned their teams mid season when the pound collapsed in 1976.

[tellboy]

Just wait till you get out there and order a round. Of course cheaper than the UK in Turkey but their tourism is shot due to terrorist scares and comparing what it would cost you next year compared to this, you won't get the same value.

You wont get the same value as last year,but it is still cheaper to holiday abroad without doubt.

And why listen to experts,they often put us in the s**t anyway.

Edited October 8, 2016 by tellboy

[Hawk127]

The fall in rates was mainly due to an automated process and less to do with the reality of Brexit. Computer coded stats trigger trades when financial data does not satisfy the algorithums and when it comes to FX dealers around the globe, they do nothing more than gamble other people's money, few have any idea which is why these things happen. It is swings and roundabouts and in reality the major currencies have more to worry about then Brexit. The state of certain Southern Europe/med economies and their banks who are in a dreadful position liquidiity wise and what happens in the US elections as well as an unstable Middle East will have just as great an impact on the USD, Euro and Sterling. It is all short term issues and frankly as long as the lunatics (the financiers and bankers) run the monetary asylum these fluctuations will ensue. Does anyone know if the top riders hedge the currency position? Some smart ones may and I know of one or two who did in the past but now I suspect they are Ina quandary as to what to do particularly if paid in say Zloty. Simple answer is don't panic just yet and sterling will bounce back and riders will not suffer in the medium to long term

[waiheke1]

Most people go all inclusive when they go abroad, & pay for it with the pound, so its not any more expensive.

Really? Is that a wind up or you really think the fact that the hotel, food and drink will all have increased in price (in pounds) won't increase the price u pay to the agent?

This type of logic is one of the arguments against democracy...

[Daytripper]

Hardly silly season. Its a fact. The night before the brexit result the pound = $1.49. Fridays close was $1.29. A massive drop .

At the same time the pound bought 1.31 the night before brexit, and Fridays close was 1.11.

And you can't get 1.11 from the post office. More like 1.08.

The silly season comment relates to the nature of the topic. We haven't had the AGM yet, and there are 1001 things to be discussed that may have a bearing on whether top foreign riders return, or even if they can be accommodated, quite apart from the exchange rate which is at best a small cog in a very big wheel.

 

As to the exchange rate it fluctuates all the time. These are not final figures. Over the years of coming to the U.S. I have seen it this low before and I have seen at almost two dollars, long before Brexit was ever on the table. Overall it doesn't make a lot of difference to going on holiday for most people. I've booked some fights out here next year in the BA sale at some of the lowest prices ever, which more than offsets any difference in exchange rates. There is, and always has been more to be gained by shopping around than looking at exchange rates.

 

As I said before my only regret is that I listened to the scare stories from some of the telling me the Bank of England was going to cut interest rates when it didn't, and I got stitched up . I'll trust my own judgment in future.

[June01]

Experts state the pound is likely to fall considerably more before levelling off, and this is before Brexit even takes place.

 

It's falling BECAUSE of these experts. Nothing has changed therefore the only reason the value of the pound has dropped is because of scaremongering, not substantive factors.

[cityrebel]

Shouldn't this thread be re titled - the collapse of the EL and the effect on the pound, or the lack of such currency entering the promoters coffers!

[Joe Beevers]

In all honesty, I am biting my tongue on this Brexit chat and so wanting to explode into a novel of why it was wrong to leave especially when people mention controlling foreigners and affecting trade.

 

But this is a speedway forum and I will happily talk about speedway.

 

I am wondering if promotions maybe largely affected this in the next five years.

[Steve Shovlar]

In all honesty, I am biting my tongue on this Brexit chat and so wanting to explode into a novel of why it was wrong to leave especially when people mention controlling foreigners and affecting trade.

But this is a speedway forum and I will happily talk about speedway.

I am wondering if promotions maybe largely affected this in the next five years.

You are not the only one biting their lip. I could explode with rage at the future carnage and devastation this country will face in the next few years, because of one of the main viewpoints of keeping the migrants from the EU out of the UK. And the farcical thing is, we cant. Our main trading partners are the EU and they have us over a barrel.

 

We are all going to suffer badly. Still as you say, we can discuss such disasters on the general chat section.

[Sidney the robin]

You are not the only one biting their lip. I could explode with rage at the future carnage and devastation this country will face in the next few years, because of one of the main viewpoints of keeping the migrants from the EU out of the UK. And the farcical thing is, we cant. Our main trading partners are the EU and they have us over a barrel.

 

We are all going to suffer badly. Still as you say, we can discuss such disasters on the general chat section.

Just except the decision and move on with your life all of us have had something thrown at us and have had to except it that's life.My main grievance was with Thatcher she was a disaster for over half the country yet we had no say and had to except it like you will have to except the EU vote now.

[Aces51]

It's called democracy and obviously the majority, including me, want to leave.

 

As Churchill said “Democracy is the worst form of government, except for all the others.” Mind you he also said "The best argument against democracy is a five-minute conversation with the average voter".

[A ORLOV]

Just except the decision and move on with your life all of us have had something thrown at us and have had to except it that's life.My main grievance was with Thatcher she was a disaster for over half the country yet we had no say and had to except it like you will have to except the EU vote now.

If some think the eu is so great maybe they should move there.

[Trevor]

Always funny seeing the Remoaners grabbing any chance to spread their pessimism.

 

The lower pound should encourage promoters to seek out more British talent, which will be to the benefit of the sport here in the UK. We have relied too heavily on mediocre riders from abroad to pad out our teams for too long. I want to see the sports top stars in the UK taking heatleader positions, however I think reserve and second string positions should in the main be British. I know we cannot switch to this overnight, but it should be the direction of travel.

[DunRobin]

If some think the eu is so great maybe they should move there.

Any chance SS might move to Poland. Please, please let there be a god!