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All Clubs are For Sale

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13 hours ago, lisa-colette said:

The Poole riders are the jammy ones getting to go to the Abu Dhabi F1 GP!! :D

Ironically on this occasion ALL of them will be guests...:D

I take it all are available for this?  Any of them due on another pre planned break at the same time elsewhere in the World?...

If they did need to invite replacements, would their luggage need to weigh less than the rider they are replacing or as it will be a big plane can they carry an extra 5% more.?

 

 

 

 

 

I'll get me coat..:rolleyes::D

 

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On 10/12/2018 at 9:29 AM, ray c said:

Your way off the mark . I think Matt has gone as far as he can go personally hard act to follow though :D

You're right, he really can't do much more damage to the sport now.

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12 hours ago, miadfa8 said:

Quote M Ford:

"It's a great club," he added. "It's well run and it makes a profit, which is unusual in any form of sport.

See https://www.bbc.co.uk/sport/speedway/45823480

One out the last four years ain't bad is it?

It hasn't necessarily made a loss every other year though. For example:

Capital and reserves:

Year ended 28 Feb 2017 - £97,815

Year ended 28 Feb 2018 - £76,881

You may automatically think the company's made a loss of £20,934 in the most recent year. However, it's entirely possible it made a profit of, say, £4,066 but the directors then decided to pay out dividends of £25K. As the company has positive reserves, they are more than entitled to do so.

The problem with these types of accounts is too many things can be hidden. But that's the legislation's fault, not that of the companies themselves.

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15 minutes ago, King Jamie said:

It hasn't necessarily made a loss every other year though. For example:

Capital and reserves:

Year ended 28 Feb 2017 - £97,815

Year ended 28 Feb 2018 - £76,881

You may automatically think the company's made a loss of £20,934 in the most recent year. However, it's entirely possible it made a profit of, say, £4,066 but the directors then decided to pay out dividends of £25K. As the company has positive reserves, they are more than entitled to do so.

The problem with these types of accounts is too many things can be hidden. But that's the legislation's fault, not that of the companies themselves.

I didn’t think you could pay more dividend than profit? e.g. it could only pay a dividend based on the profit, in your example, £4066?

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46 minutes ago, theblueboy said:

I didn’t think you could pay more dividend than profit? e.g. it could only pay a dividend based on the profit, in your example, £4066?

Dividends are paid from retained profits, not solely the profit for a particular period. 

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On 10/12/2018 at 9:51 PM, woofers said:

 

Mate, please don't tell me "No they're not", go into Companies House website, get the accounts for Slade Tipton Ltd, look at the Balance Sheet for 28 February 2017 and look at note 8 for said Balance Sheet. Then come back and apologise.

Does that include Sam Ermolenko, Ronnie Correy and all of the Karlsson's?

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On ‎10‎/‎12‎/‎2018 at 12:50 PM, Steve0 said:

“Assets” that you believe have a perceived value have no value at all under the Bosman ruling.  If they have no long term contract then they are not assets.  Speedway has been flouting this law for years and it is illegal. It takes just one rider to challenge the asset system and it falls apart.  Anyone interested in purchasing a speedway club should bear that in mind!  Commercial partners may have some value depending on what their contracts say.

I used to think that the asset system was illegal under the Bosman ruling but I now believe that this is incorrect. The clubs only own the league registration not the rider. The rider is free to ride for any club that he wants. He can refuse to ride for the club that owns the asset, as Kyle Howarth has done in the past & probably many other riders have also done so in the past. The difference between this & football was that the football player was not free to do this. Speedway riders are classed as self employed, unlike footballers who are employees of the club.

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18 hours ago, iainb said:

Does that include Sam Ermolenko, Ronnie Correy and all of the Karlsson's?

I wouldn't know, it's just a number in the accounts prepared and signed by the Director and Secretary, Mr C H Van Straaten. I suspect only he knows.

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On 10/12/2018 at 7:55 PM, lisa-colette said:

Plenty of them in Sandbanks ;)

..............and I bet they wouldn't go anywhere near a speedway club! They are not daft - that's why they are multi millionaires!! :P

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21 hours ago, robins les said:

I used to think that the asset system was illegal under the Bosman ruling but I now believe that this is incorrect. The clubs only own the league registration not the rider. The rider is free to ride for any club that he wants. He can refuse to ride for the club that owns the asset, as Kyle Howarth has done in the past & probably many other riders have also done so in the past. The difference between this & football was that the football player was not free to do this. Speedway riders are classed as self employed, unlike footballers who are employees of the club.

That may be true. However if they can still ride anywhere they wish and are self employed then surely they have no monetary valve to the business? 

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21 minutes ago, Spl77 said:

That may be true. However if they can still ride anywhere they wish and are self employed then surely they have no monetary valve to the business? 

Correct

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How much do you think Terry Russell would expect to get if/when he sells Swindon?

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9 minutes ago, Skidder1 said:

How much do you think Terry Russell would expect to get if/when he sells Swindon?

No idea what he would expect but as with Matt at Poole, not a lot, we do not even have our own tractor.  

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