Plymouth 2017

[Lord Skid 425]

If I were the Landlord, then I would want the 2017 rent upfront, but would probably just Rent the site out for Car boot sales, can't believe their Board of Governors will be desperate to get involved in Speedway again.

[Devilman 16]

Hi Buritto and Lord Skid,

 

To the best of my knowledge on an administration the creditors get so much in the Pound depending on the assetts and bids. This could be 1p in the pound for instance.

 

I have heard that previous promotion had contracted to pay per meeting, I have no idea of what it would be going forward. However, quite a lump were it to be paid up front as suggested.

 

Reference to car boot sales I recall there was reluctance to do this whilst fundraising activity was happening, I am not sure if it was because of lease agreements or if it were intransigence by the promotors.

 

What is also worth thinking on is the cost of returning to site to its former state as a rugby pitch and then who pays?

 

Why is nothing straightforward?

[leander 495]

If the previous promotion went into liquidation, does that mean that any debts are reduced or written off?

Make no mistake the Administrators are acting on behalf of the creditors. They get the best deal for whatever assets are left and divvy it up between the creditors. If the best bid is from a scrap merchant (for example) they WILL SELL to that scrap merchant. So hope the best deal is from someone who wants to run speedway.

Edited November 16, 2016 by leander

[Devilman 16]

I understand what you are saying leander, however it is a designated sports ground which still has one rugby pitch and the changing facilities in addition to the track, pits and facilities..

 

I think the use of the land would be restricted. Had it been useful for either commercial or housing it would probably been sold years ago.

[arnieg 3,638]

I imagine the lease (and it may only be a licence to occupy anyway) can't be assigned without the consent of the school (as landlords) so the only assets the administrators are seeking to realise would be the odd bit of track equipment and the intangible value of the right to run speedway in Plymouth (however that is in the gift of the BSPA).

 

I'm assuming riders contracts (a debatable concept as an asset) have already reverted to the BSPA.

[dazzafl 212]

you will be suprised i am sure the rent was over 1000 a week when bowden had it.. so 25k isnt that hard to get to ..

[Lord Skid 425]

If that's a true figure, then it's pretty reasonable, taking into account that the Club has the full catering rights, compared to many Clubs where the Bar and Catering revenue is kept by the Stadium, it appears they can also run training schools.

[Sings4Speedway 3,247]

If that's a true figure, then it's pretty reasonable, taking into account that the Club has the full catering rights, compared to many Clubs where the Bar and Catering revenue is kept by the Stadium, it appears they can also run training schools.

 

I never get why more clubs don't run training schools / practice days especially in the early season. Its a complete cash cow. 30 riders @ £30 each is £900 a session. Yes there are other expenses as ever but medical cover only needs to be basic and there are riders screaming for early season track time and its a great way for clubs to boost their funds pre season.

[GWC 495]

That's why to be a promoter you need a small fortune behind you - after first starting with a large fortune!

[Devilman 16]

Planning permissions restrict not only the meetings but also training/practice time. Certainly the case in Plymouth.

 

As far as the cost of the lease to run at the St Boniface Arena I confess to be very surprised at the figure quoted by the earlier poster.

[Tsunami 10,219]

If I were the Landlord, then I would want the 2017 rent upfront, but would probably just Rent the site out for Car boot sales, can't believe their Board of Governors will be desperate to get involved in Speedway again.

Never going to happen anywhere.

[Lord Skid 425]

We're talking about people dealing with Del Boy type Promoters here, if they said it was daytime, you'd go outside and check.

[leander 495]

 

I understand what you are saying leander, however it is a designated sports ground which still has one rugby pitch and the changing facilities in addition to the track, pits and facilities..

 

I think the use of the land would be restricted. Had it been useful for either commercial or housing it would probably been sold years ago.

Yes but you don't own the track so that's not a factor. It's the fixtures and fittings. i.e. Fence, Air bags, water tender?, and riders (if any). The fact that it's a designated sport facility and you own planning rights to run speedway is probably in your favour. The fact that you don't own the land is certainly in your favour as it'll keep any potential developers away.

Edited November 19, 2016 by leander

[Mike0310 660]

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Edited November 20, 2016 by Mike0310

[greyhoundp 990]

Im just wondering, theres a certain NL Team manager spending the weekend down that way this week, could he be involved ?, he currently doesnt have a Team to Manage, but he has Cornish rider connections through two current Cornish riders Hmmmmmm it wouldnt surprise me, maybe Im putting 2+2 and coming up with 5, but whoever takes over, in my opinion it has to be NL...