Jump to content
British Speedway Forum
waytogo28

2017 Profit & Loss

Recommended Posts

I know, but it's what I was told. Also when fans complain about the increase in admission most promoters pay way more to watch their speedway, usually around £10,000, while we critcise them I guess we should be pleased that they are willing to do so....

 

I hope that the bleating promoters are not paying £10,000 per match to watch this speedway. If they are then, they must be so wealthy that their £250,000 a year losses are a mere pinprick in their vast wealth ( in which case why not have lots more fans watching at £10 a head? ) If they are not so well off then they must be daft or financial masochists!

Share this post


Link to post
Share on other sites

 

Certainly where loss making is concerned speedway is little different to other sports. The losses incurred and debts owed by Championship football clubs are millions and tens of millions. Bolton are the worst : their debt after the 2015/16 season was pushing £200m, an eye watering figure which even when you take relative turnover, crowds and income into account makes losses run up by speedway promoters look like chicken feed. In addition, the clubs are almost entirely owned by wealthy individuals with money to burn.

 

https://www.insidermedia.com/insider/national/football-finance-championship-club-by-club-2015-16

 

I understand where you're at, Halifaxtiger.

 

Comparing mega-rich football owners who can take a hit with the humble speedway fan-turned promoter should be avoided. I always think, as a speedway fan, it would be mere stupidity to actually wish to run a track and then lose thousands upon thousands of pounds every week, just to satisfy my craving and appease the few hundred that want to pass through my turnstiles. To see your bank balance dwindling, your home being placed at risk, I cannot see any sane person placing their life's hard work and business into what seems merely a mid-life crisis that is running a speedway track.

 

If people are alright with ploughing this cash into speedway, then, I ask again, are these the sort of people who should be running the sport? There isn't enough money coming in, too much going out. Start from breaking even at least, making small profits. But annual loses equals a bad ending.

Share this post


Link to post
Share on other sites

 

I understand where you're at, Halifaxtiger.

 

Comparing mega-rich football owners who can take a hit with the humble speedway fan-turned promoter should be avoided. I always think, as a speedway fan, it would be mere stupidity to actually wish to run a track and then lose thousands upon thousands of pounds every week, just to satisfy my craving and appease the few hundred that want to pass through my turnstiles. To see your bank balance dwindling, your home being placed at risk, I cannot see any sane person placing their life's hard work and business into what seems merely a mid-life crisis that is running a speedway track.

 

If people are alright with ploughing this cash into speedway, then, I ask again, are these the sort of people who should be running the sport? There isn't enough money coming in, too much going out. Start from breaking even at least, making small profits. But annual loses equals a bad ending.

 

Unfortunately, that is how sport works. How many sponsors get a positive return on their investment? I'd argue none, they do it because of their love of the sport and potentially personal relationship with the athletes. Club ownership is the same but on a bigger level.

 

To answer your question... generous people. If someone can come up with a profitable business model for speedway then I'm sure everyone will be all ears.

  • Like 3

Share this post


Link to post
Share on other sites

 

Unfortunately, that is how sport works. How many sponsors get a positive return on their investment? I'd argue none, they do it because of their love of the sport and potentially personal relationship with the athletes. Club ownership is the same but on a bigger level.

 

To answer your question... generous people. If someone can come up with a profitable business model for speedway then I'm sure everyone will be all ears.

Not talking about sponsors and if they get a return, we are discussing profit and loss of speedway. Sponsors tend to have proper businesses and can afford to dip into their funds to sponsor a rider or other. But running a speedway is either you make a buck or you lose out, and then send out the annual S.O.S. that the gullible fan believes but usually has the track opening up the next season just the same.

 

Complaining about losing money... is it some kind of dodge they all do, do you think? I mean, when was the last promoter who chucked down his wallet on his table and said he was making too much of a good living?

 

If a track was losing money season after season, a fool would be that person throwing good money after bad, love of the sport or otherwise. A fan wouldn't spend £20 a match to go and watch a sport he could really afford. Why do hard-nosed promoters who have made their money by hard work and yet want to throw it away for the love of their sport?

Share this post


Link to post
Share on other sites

Not talking about sponsors and if they get a return, we are discussing profit and loss of speedway. Sponsors tend to have proper businesses and can afford to dip into their funds to sponsor a rider or other. But running a speedway is either you make a buck or you lose out, and then send out the annual S.O.S. that the gullible fan believes but usually has the track opening up the next season just the same.

 

Complaining about losing money... is it some kind of dodge they all do, do you think? I mean, when was the last promoter who chucked down his wallet on his table and said he was making too much of a good living?

 

If a track was losing money season after season, a fool would be that person throwing good money after bad, love of the sport or otherwise. A fan wouldn't spend £20 a match to go and watch a sport he could really afford. Why do hard-nosed promoters who have made their money by hard work and yet want to throw it away for the love of their sport?

 

It is the ultimate fantasy for some people. They may not be able to afford to be the Chairman of Manchester United ( or whoever in the Premier football league ) - but to be at the helm of sporting enterprise for only a few thousand every year AND play a part in major decisions about that sport must be thrilling and uplifting ( even fulfilling ) for those of that bent. We all have dreams.

Share this post


Link to post
Share on other sites

 

It is the ultimate fantasy for some people. They may not be able to afford to be the Chairman of Manchester United ( or whoever in the Premier football league ) - but to be at the helm of sporting enterprise for only a few thousand every year AND play a part in major decisions about that sport must be thrilling and uplifting ( even fulfilling ) for those of that bent. We all have dreams.

I'd rather spend a tenner on the Flying Shale game for my PC!

I'd rather spend a tenner on the Flying Shale game for my PC!

The annual will-they run, won't they, is no good what-so-ever for the sport's image. At Belle Vue under John Perrin, it was every winter, threats of closure. But, after the first handful of close-seasons of worry... you know what? Boy cries wolf.

 

Regards to sponsors throwing money at speedway and getting little back for it. A little money to have your company's name in the home programme, some more to have it adorned down a riders race suit, totally different than it being money that keeps the wolf away from your door. It shows the business can afford to ease the purse strings.

 

Compare it to the sponsor who owns that business... and ask whether they'd be able to run that business year-upon-year of losing money at whatever line they are in. Doubt it.

 

Most promoters have proper businesses away from speedway, like those sponsors do, and I'm guessing that they (promoters) wouldn't allow those businesses to lose money every year, like they tell us they're losing at the track... so are we being told the truth about money lost by speedway tracks?

 

I have doubted it for so long.... a little swizz perhaps?

Edited by moxey63

Share this post


Link to post
Share on other sites

 

I hope that the bleating promoters are not paying £10,000 per match to watch this speedway. If they are then, they must be so wealthy that their £250,000 a year losses are a mere pinprick in their vast wealth ( in which case why not have lots more fans watching at £10 a head? ) If they are not so well off then they must be daft or financial masochists!

Didn't explain as clealry as I should have, but he meant 'paying', i.e. losing, £10k over a season, which many probably do. Being 'speedway mad' doesn't come close....

  • Like 1

Share this post


Link to post
Share on other sites

Compare it to the sponsor who owns that business... and ask whether they'd be able to run that business year-upon-year of losing money at whatever line they are in. Doubt it.

 

Most promoters have proper businesses away from speedway, like those sponsors do, and I'm guessing that they (promoters) wouldn't allow those businesses to lose money every year, like they tell us they're losing at the track... so are we being told the truth about money lost by speedway tracks?

 

I have doubted it for so long.... a little swizz perhaps?

 

The main difference is that you run a business with the aim of making money. I don't think anyone buys a speedway club with the expectation of making a profit. The best case scenario is that it breaks even. As I said, most do it for the love of the sport and no doubt a bit of ego is in there too.

  • Like 2

Share this post


Link to post
Share on other sites

A promoter who was losing a grand a meeting, which had to be banked in cash weekly alongside the takings, once sighed "Ah well, it was this or a Roller".

 

I don't think he was talking track equipment.

 

I got the impression it was all an expensive power game for many promoters.

 

Still, if it is, many supporters have seen more years of their team than economics and common sense would have allowed which is surely no bad thing.

 

Some people are far to keen to see tracks close, as long as it isn't theirs of course........

  • Like 2

Share this post


Link to post
Share on other sites

A promoter who was losing a grand a meeting, which had to be banked in cash weekly alongside the takings, once sighed "Ah well, it was this or a Roller".

 

I don't think he was talking track equipment.

 

I got the impression it was all an expensive power game for many promoters.

 

Still, if it is, many supporters have seen more years of their team than economics and common sense would have allowed which is surely no bad thing.

 

Some people are far to keen to see tracks close, as long as it isn't theirs of course........

 

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,

Share this post


Link to post
Share on other sites

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

  • Like 2

Share this post


Link to post
Share on other sites

 

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 by Rob McCaffery
  • Like 6

Share this post


Link to post
Share on other sites

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

£26K I believe.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now

×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue. Privacy Policy