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8 minutes ago, Starman2006 said:

But if the banks called all the Premier league clubs money in they would all be skint.

The Rye statement I read said that the powers that be wouldn't let them continue due to money probs. Don't think BMR have gone ** up, yet.

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10 minutes ago, Bald Bloke said:

The Rye statement I read said that the powers that be wouldn't let them continue due to money probs. Don't think BMR have gone ** up, yet.

Sorry i was talking PL football.

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2 minutes ago, Starman2006 said:

Sorry i was talking PL football.

No probs Starry :t:

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6 hours ago, Booey boy said:

Horton got somethings wrong but personally I blame Martin Ochiltree 

Yes agree with that. Martin sold the stadium to a known property developer so from then on it was a count down to the end of Speedway and Stock Cars.  I'm surprised it lasted as long as it did.

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It seems to me that we've been here before . When the new promotion took over at Birmingham a few seasons ago weren't we told they had plenty money and everything was looking great then what happened ?  Before BMR  bought the club was there a period of due diligence, where any background checks done by The BSPA or SCB to ensure they where fit and proper people. This type of situation can't be allowed to happen again the speedway authorities needs to wake up and realise the sport is dying and work together to save the sport. I really hope the Rockets return sometime in the future it was always a favourite place of mine to visit.

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10 hours ago, Ray Stadia said:

So, why can football clubs park their debts and rise from the ashes? If the promoting company is a limited company and has no money, the entity (Ltd company) is liquidated and that is that. The only chance debtors will have, is if the director(s) signed directors guarantees against their personal assets.  

The BSPA contract holds the licensed Promoters personally responsible for in house debts, if they don't like it they shouldn't sign it.

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44 minutes ago, Whisperer said:

The BSPA contract holds the licensed Promoters personally responsible for in house debts, if they don't like it they shouldn't sign it.

I get that Whisperer, which is similar to a director's guarantee, but if the promoter hasn't any money to settle the debts, there is no point pursuing the situation. If this is the case, surely the BSPA, for the sake of a team, fans and the sport as a whole, would allow another promoter to carry on. If that is not possible, it is complete madness! 

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How were Belle Vue able to come back after their disaster first season?

One rule for one.......

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11 minutes ago, GWC said:

How were Belle Vue able to come back after their disaster first season?

One rule for one.......

I was thinking about Birmingham as well - Phillips and co.

Edited by racers and royals

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13 minutes ago, GWC said:

How were Belle Vue able to come back after their disaster first season?

One rule for one.......

Belle Vue paid all their debts, late but in agreement with the riders. The stand off with the council was then spun as a debt issue?especially once Buster thought he could take over. 

The irony is the new lot paid the lower level of running fees as set out by the original promotion. 

How the sport could do with those two now, instead we have Buster. 

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1 hour ago, DSC67 said:

Before BMR  bought the club was there a period of due diligence, where any background checks done by The BSPA or SCB to ensure they where fit and proper people.

They are long words and difficult concepts for the BSPA to deal with. If you turn up, spin a Great Tale about your financial wealth and Pot Of Gold and Super Duper Plans for a multi motorsports centre, Blah Blah and you can put up the Bond ( no one seems quite sure how much this is but should be related to your wages bill when you sign riders ) All is well and the blazer is yours. Hopefully those days are now behind us?

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28 minutes ago, Ray Stadia said:

I get that Whisperer, which is similar to a director's guarantee, but if the promoter hasn't any money to settle the debts, there is no point pursuing the situation. If this is the case, surely the BSPA, for the sake of a team, fans and the sport as a whole, would allow another promoter to carry on. If that is not possible, it is complete madness! 

You're right it is possible but all of the "assets" within the control of the BSPA have to be liquidated to settle in house debts, a new promotion will have to deposit a bond and if they are unable to acquire the rider registrations then increase that bond accordingly. The new promotion is not guaranteed those registrations (highest bidder) and the external creditors may freeze ( through an Administrator) track and safety equipment ( Birmingham) until all debts are discharged in full or protected by the insolvency process.  It's messy short term and admittedly there aren't that many out there who will want to buy air fences, rakes and dust.

The biggest challenge I see is if a new promotion is able to occupy and run Speedway is the moto cross circuit if BMR Speedway does not fold the company not withstanding the ability to overcome the random decisions to force clubs off their agreed fixtures. They would lose all Saturday priority and have to race Saturday clubs off race day and with the mooted 1 big league which is likely to be a 16 club four team tournament what other nights will Rye be forced onto?

Don't forget we are now in the middle of the "plans to secure the future of the sport" 

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30 minutes ago, Whisperer said:

You're right it is possible but all of the "assets" within the control of the BSPA have to be liquidated to settle in house debts, a new promotion will have to deposit a bond and if they are unable to acquire the rider registrations then increase that bond accordingly. The new promotion is not guaranteed those registrations (highest bidder) and the external creditors may freeze ( through an Administrator) track and safety equipment ( Birmingham) until all debts are discharged in full or protected by the insolvency process.  It's messy short term and admittedly there aren't that many out there who will want to buy air fences, rakes and dust.

The biggest challenge I see is if a new promotion is able to occupy and run Speedway is the moto cross circuit if BMR Speedway does not fold the company not withstanding the ability to overcome the random decisions to force clubs off their agreed fixtures. They would lose all Saturday priority and have to race Saturday clubs off race day and with the mooted 1 big league which is likely to be a 16 club four team tournament what other nights will Rye be forced onto?

Don't forget we are now in the middle of the "plans to secure the future of the sport" 

Thank you for the explanation. All very complex and a tangled web. Maybe BMR have a legal case to take against the BSPA? By forcing BMR to operate on a race night which clearly was not producing sufficient fans and if BMR did ask to switch to a weekend race night, but were turned down, doesn't the BSPA share the blame for RH's demise? 

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47 minutes ago, Whisperer said:

 

 

They would lose all Saturday priority and have to race Saturday clubs off race day and with the mooted 1 big league which is likely to be a 16 club four team tournament what other nights will Rye be forced onto?

You’re kidding, yes?

A four team tournament league? What idiot thought up that? I most certainly wouldn’t be bothered to watch that.

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5 minutes ago, Steve Shovlar said:

You’re kidding, yes?

A four team tournament league? What idiot thought up that? I most certainly wouldn’t be bothered to watch that.

If the clowns at the top even gave that idea half, a thought you might as well just pack up... Thats why a change is a must.

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