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Bald Bloke

Kings Lynn 2018..

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Theres so many different deals.Each rider has different deals.Some of the top riders are on a fixed wage,no matter what they score.

Some might be on £500 plus £100 a point.Others could be on £300 plus £100 a point.Reserves might be on £300 plus £50 a point.

Who knows

I know and you are a long way out

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Don't forget riders receive a decent sum in one lump before a wheel is turned th n again during the season followed by a further 'bonus' come the end of the season. That has to be factored in with points, start and travelling money. How close is that one JC

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Don't forget riders receive a decent sum in one lump before a wheel is turned th n again during the season followed by a further 'bonus' come the end of the season. That has to be factored in with points, start and travelling money. How close is that one JC

Many riders don't receive a signing on fee.

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I know and you are a long way out

 

I greatly respect and enjoy your posts JC but cannot understand why no-one on the "inside" is prepared to shed some light on how it works - is there a basic pay rate scale or not? We do not want rider's private financial affairs to be known. just have an understanding of why some " cannot make it pay" without doubling up. That is where it all began, at least for me. Are they the lowest paid professional sportsmen in the country or are they grossing 4x plus the average national wage? Are promoters "abusing" riders by underpaying them for their desires to race? I repeat they are heroes for giving it their all on track, so this is not knocking anyone.

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prior to double up/down being allowed many riders had jobs too, but since they had the chance to ride for more than one club and get more than one wage it all changed

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Many riders don't receive a signing on fee.

I thought it' was the likes of NKI being discussed.

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I know and you are a long way out

To low or to high :D

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I know and you are a long way out

I know to and yes they are way way out.

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Good post by JC.

It should probably be copied into all those 'state of speedway', 'future of speedway' and 'speedway solutions' threads that are riddled throughout the forum.

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A riders remuneration package is usually made up of multiple factors with different rates for each.

 

1. A sign on fee which a rider may use to purchase equipment and get set up for season ahead.

 

2. Contribution towards travel to each meeting, including flight costs.

 

3. Contribution to accomodation costs ( sometimes required by the home office to obtain a work visa).

 

4. Guaranteed minimum earnings per match.

 

5. Tyre, oil and insurance costs

 

6. Contribution towards or supply of a mechanic

 

7. A fixed rate per point scored (including bonus points) which may increase or decrease based on team position. It may also have a step up in rate if the rider scores more than his average points.

 

When all this is combined and spread out across the whole team it is fair to say that based on 50 points being scored each meeting (including bonus points) the average cost per point was around £200 when I was running the team in the elite league. Since I left this has increased significantly and I would estimate it is around £300 per point.

 

This means each home meeting requires £30k of income (after VAT) to cover rider costs plus another £5k to cover rent and auxiliary costs such as paramedics.

 

The sky money (which ceases to exist after this season) would probably cover 30% of that and gate receipts another 30-40%. Each club then needs to rely on sponsorship and generous beneficiaries to make up the short fall.

 

That ladies and gentlemen is unfortunately why the sport is in the doo doos and I do not see how it can survive next year without a major revamp including cost cutting. Believe me the fixed race nights are the least of its problems.

So as thought, if tv money stops and TR does not come up a main speedway sponsor pouring in lots of money, something has got to change, either lower pay for riders or less clubs at the top level.

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A riders remuneration package is usually made up of multiple factors with different rates for each.

 

1. A sign on fee which a rider may use to purchase equipment and get set up for season ahead.

 

2. Contribution towards travel to each meeting, including flight costs.

 

3. Contribution to accomodation costs ( sometimes required by the home office to obtain a work visa).

 

4. Guaranteed minimum earnings per match.

 

5. Tyre, oil and insurance costs

 

6. Contribution towards or supply of a mechanic

 

7. A fixed rate per point scored (including bonus points) which may increase or decrease based on team position. It may also have a step up in rate if the rider scores more than his average points.

 

When all this is combined and spread out across the whole team it is fair to say that based on 50 points being scored each meeting (including bonus points) the average cost per point was around £200 when I was running the team in the elite league. Since I left this has increased significantly and I would estimate it is around £300 per point.

 

This means each home meeting requires £30k of income (after VAT) to cover rider costs plus another £5k to cover rent and auxiliary costs such as paramedics.

 

The sky money (which ceases to exist after this season) would probably cover 30% of that and gate receipts another 30-40%. Each club then needs to rely on sponsorship and generous beneficiaries to make up the short fall.

 

That ladies and gentlemen is unfortunately why the sport is in the doo doos and I do not see how it can survive next year without a major revamp including cost cutting. Believe me the fixed race nights are the least of its problems.

 

Cheers J,C. , for the insight of speedway finance. One can easily see why the sport is struggling like it is. This is a prime example where the costs need to be cut to suit the material. It is crazy to think we only have one level of machinery and expect small league attendances to fund these expensive machines. For this sport to survive, we need to separate the SGP as the Elite and operate league racing on a cheaper scale. Failing that, the sport will just die...

 

Back in mid 70's when Neil Street brought his 4 valve to Lynn , Terry Betts said the sport cant afford that kind of expense. Admission would have to increase and the fans would have to bear the blunt.... Causing many to stop coming...... What a pity they didn't listen to him.....

Edited by GRW123
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jchapman wrote " This means each home meeting requires £30k of income (after VAT) to cover rider costs plus another £5k to cover rent and auxiliary costs such as paramedics.

The sky money (which ceases to exist after this season) would probably cover 30% of that and gate receipts another 30-40%. Each club then needs to rely on sponsorship and generous beneficiaries to make up the short fall.

That ladies and gentlemen is unfortunately why the sport is in the doo doos and I do not see how it can survive next year without a major revamp including cost cutting. Believe me the fixed race nights are the least of its problems."

 

Plus more enlightening info. on speedway finances.

 

So now we know - Thank You jchapman - in the PL riders are currently well paid for their efforts. As it should be but without the Sky cash, where is the rest coming from? Essential cost cutting, more sponsors or what?

Edited by waytogo28

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A riders remuneration package is usually made up of multiple factors with different rates for each.

 

1. A sign on fee which a rider may use to purchase equipment and get set up for season ahead.

 

2. Contribution towards travel to each meeting, including flight costs.

 

3. Contribution to accomodation costs ( sometimes required by the home office to obtain a work visa).

 

4. Guaranteed minimum earnings per match.

 

5. Tyre, oil and insurance costs

 

6. Contribution towards or supply of a mechanic

 

7. A fixed rate per point scored (including bonus points) which may increase or decrease based on team position. It may also have a step up in rate if the rider scores more than his average points.

 

When all this is combined and spread out across the whole team it is fair to say that based on 50 points being scored each meeting (including bonus points) the average cost per point was around £200 when I was running the team in the elite league. Since I left this has increased significantly and I would estimate it is around £300 per point.

 

This means each home meeting requires £30k of income (after VAT) to cover rider costs plus another £5k to cover rent and auxiliary costs such as paramedics.

 

The sky money (which ceases to exist after this season) would probably cover 30% of that and gate receipts another 30-40%. Each club then needs to rely on sponsorship and generous beneficiaries to make up the short fall.

 

That ladies and gentlemen is unfortunately why the sport is in the doo doos and I do not see how it can survive next year without a major revamp including cost cutting. Believe me the fixed race nights are the least of its problems.

great post JC very interesting- so 30-40 % comes from the fans paying there £17 so it beggars belief as to why fans are not treated like VIPs by clubs and also why some effort isnt put into attracting new fans I cant get my head around why in my opinion fans are taken for granted in such a way .
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Excellent post JC, and very well explained. I'm even more depressed than I was before! Do you think the expenditure would be much less if the Stars ran in the Championship League? I thought the whole idea of being in the Premiership was to see the Worlds best riders, but with hardly any GP riders in the UK, and lots of doubling up, the product has been watered down to the stage where fans like me couldn't give a toss about what league we are in, I just want to see good, exciting racing every week with the same team members. (injuries excepted) but with so many matches across the UK running with R/R and guests, is it a wonder interest is waning. I'm sure we have all seen the team line ups with R/R and several guests giving the fans only a couple of their actual team members! I don't have the answer, and I'm sure we all have our own ideas, but reading JC's post makes the reality of the sports survival even more bleak.

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