2017 Profit & Loss

[SteveLyric2]

As has been said many times before - "If you want to make a small fortune from Speedway ----- Start with a large one!"

[RobMcCaffery]

 

I don't think any fans currently attending speedway ( or even following from their armchair with the SS ) are "keen " to see tracks close. They just want to see the sport run more effectively and offer good VFM racing on track. IF it is for some promoters "an expensive power game" they must be very wealthy to run it in such an ineffective manner,

No, there have been several cases on here lately of people stating quite clearly that they think some tracks should close. We had one guy claiming that all short tight tracks should go while others seem intent on only having a small number of tracks putting out highly expensive teams. We get those who seem to be delighted at their local rivals closing while others seem to think that if a track closes it can easily be re-opened. I suspect those days are gone.

 

I saw speedway go through a phase in the nineties where there were strong suspicions that there was a 'cull' going on of the smaller, weaker clubs. It was extremely distasteful then but if you were at the sharp end of it you'd be sensitive too.

 

For some the efficiency you quote seems to be at the expense of those who can't fall into line.

 

In answer to your point about the wealth needed to play that power game, yes, I think you'll find there are some rather wealthy people involved, even if they don't stay that way for long.

 

A sane, sustainable future can only be grasped by getting the foundations of the sport correct - a healthy grass roots tier feeding into a higher league not just riders but tracks. They need to be based on sensible budgets respecting the fact that any future profits will come from people who are attracted to the sport but don't have a clue who these over-expensive 'stars' are.

 

If there is a high level that can attract expensive international stars then fine, but it must not be at the expense of that sustainable foundation. We need to recruit and train riders AND supporters. Tracks bankrupting themselves to sign riders who might put a few hundred on the gate but who need thousands on the gate to pay for them are the real ruination of the sport -and 'fans' who think names are more important that than good racing and entertaining matches and turn their noses up at anything that doesn't meet their standards or isn't 'meaningful' enough. Good God, we have people claiming some league matches aren't meaningful now! This damaging snobbery has to go.

 

We need people who will accept change and realise that the sport is bigger than the individual, including them. I pray this is only a BSF disease but I do wonder...

Edited December 2, 2017 by Rob McCaffery

[LagutaRacingFan]

I'm pleased to report that Peterborough made a very healthy profit.

[Tsunami]

I'm pleased to report that Peterborough made a very healthy profit.

£26K I believe.

[oldtimer]

I thought if you had a speedway club loss and also another profitable business you could deduct the speedway business loss off you other business tax bill.

[coventry1963]

If only! When you set a loss against a profit from elsewhere, you only reduce the overall profit figure which is then taxable. You still have to pay the main part of the loss, the loss is simply effectively reduced by the tax rate applicable E.g. Profit £100,000 @ 19 per cent = £19,000 tax. Profit £100,000, loss £20,000 = net profit of £80,000 @ 19 per cent = £15,200 tax. So, loss of £20,000 reduced by £3,800 to £16,200, not wiped out!

[martinmauger]

I can easily believe that ^^, a while since I've done any acountancy work. Yet another (unamed) promoter told me he could 'accept' his speedway club losing 'up to £30,000 p.a.' as profits from his other business interests more than made up for it, any more and 'purse strings would need to be tightened'. And "the stadium owner is actually a speedway fan, and supports what we are doing though other activities take priority, and as long as we pay the rent on time and don't make too much of a mess, he's more than happy for us to continue, he's businsess man too and appreciates his stadium would otherwise be empty on speedway nights''.

 

I would describe myself as an extremely inquisitive (nosey?) type and once I get into a subject I like to know anything & everything about it as much as is possible, good bad or indifferent. Yes, I've discovered the odd titbit I wish I'd never known and met the odd 'hero with feet of clay' (and not only in speedway) but I find most speedway folk are happy to talk when approached at the right time and in the right manner and you don't ask too many questions.

 

In my 'past life' as a student for my own interest I built a huge spreadsheet based on information I was told directly from the horses mouth, as it were, and employing educated guesses as I was interested to discover how, or even if, speedway clubs made a profit. After playing around with my spreadsheet (which I still have saved - somewhere), changing monetary values up and down, and while it helps greatly owning ones own stadium / track, I concluded that very few, if any, speedway clubs do make much of a profit....

Edited December 3, 2017 by Martin Mauger

[waytogo28]

I can easily believe that ^^, a while since I've done any acountancy work. Yet another (unamed) promoter told me he could 'accept' his speedway club losing 'up to £30,000 p.a.' as profits from his other business interests more than made up for it, any more and 'purse strings would need to be tightened'. And "the stadium owner is actually a speedway fan, and supports what we are doing though other activities take priority, and as long as we pay the rent on time and don't make too much of a mess, he's more than happy for us to continue, he's businsess man too and appreciates his stadium would otherwise be empty on speedway nights''.

 

I would describe myself as an extremely inquisitive (nosey?) type and once I get into a subject I like to know anything & everything about it as much as is possible, good bad or indifferent. Yes, I've discovered the odd titbit I wish I'd never known and met the odd 'hero with feet of clay' (and not only in speedway) but I find most speedway folk are happy to talk when approached at the right time and in the right manner and you don't ask too many questions.

 

In my 'past life' as a student for my own interest I built a huge spreadsheet based on information I was told directly from the horses mouth, as it were, and employing educated guesses as I was interested to discover how, or even if, speedway clubs made a profit. After playing around with my spreadsheet (which I still have saved - somewhere), changing monetary values up and down, and while it helps greatly owning ones own stadium / track, I concluded that very few, if any, speedway clubs do make much of a profit....

 

If this is so. why are most promoters so poor at building up their crowds? A 50% increase of fans sounds as if most clubs would then be in the black and doubling the number means these men and women prepared to make a limited loss, wold be quids in!!! And going up from around an average gate of 1,000 to 1,500 - or even 2,000 cannot be beyond the realms of possibly . Especially considering that the track I had in mind was doing around 3,500 a decade or so ago. Hmmm. Well presented, close, exciting VFM racing springs to mind. Have these promoters settled for an easy life of losing a few grand season by season?

Edited December 3, 2017 by waytogo28

[martinmauger]

Seems because as I said elsewhere: not many promoters seem to promote, only when match is on TV. They run their tracks well for sure, else more would close down, but not necessarily much actual promotion....

[Odds On]

its not rocket science teams making a loss, when a teams number one in the elite league earns roughly the same as twenty paying adults per race. then add to that the other six riders, then its obvious debts are going to mount up.

 

Perhaps Rosco wasn't keeping Doyle safe and sound by not using him in meaningless heat 15s?

 

The simple solution is.... promoters only pay riders out after all the other expenses are paid on a race night, sadly speedway is now a glorified hobby nowadays with a few promoters willing to risk their own money....

[Ghosty]

Any business that's main income comes in the form of cash WILL be tempted to make no or very little profit.....nudge, nudge, wink, wink.............?

[moxey63]

I'm pleased to report that Peterborough made a very healthy profit.

Started charging that dog?