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As a Rye fan i feel for comets fans, Derwent park was the only pl track i didn't get to with Rye - hopefully you will ride again in 2020 (unlike us until certain people sell up)

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If Laura sold up  to a buyer before the season started ,would the Comets be allowed back in to League.Just asking!

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1 hour ago, Jayne said:

NL bond is not £6K so not sure how that was ever going to work.

Perhaps Mr Horton’s bond was a higher figure due to previous shortcomings ?

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1 hour ago, mac101 said:

Coventry were fined for 2 meetings £6k according to MH and the money was to be taken from his bond and what was left was meant to go to the riders that were dew wages for tyres fuel oil that was in their contract for a good few meetings but don’t think they will get a penny from the BSPA  Coventry speedway has been liquidated according to MH

Could worky not have sold some of their  assets to cover some of there losses to run rather than them going into the BSPA pot 

 

1 hour ago, Jayne said:

NL bond is not £6K so not sure how that was ever going to work.

 

39 minutes ago, mac101 said:

That’s what the riders have been told and Neil Vatcher now dealing with the riders 

No one should believe anything they're told by Mick Horton. He's a man devoid of any principles /morals.

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The day we all expected but hoped would never come. Extremely heartbroken, not just for fans and riders, but for Laura and family who as a fellow fan, put everything into the club for the last 6 years. Along with THJ and everyone that contributed to keeping the comets alive. Comets fans will forever be grateful. 

Memories of all the trips away, that feeling of winning the treble, the friends made and love we have for Workington speedway will last a lifetime. :(

Up the Comets :t:

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1 hour ago, mac101 said:

Coventry were fined for 2 meetings £6k according to MH and the money was to be taken from his bond and what was left was meant to go to the riders that were due wages for tyres fuel oil that was in their contract for a good few meetings but don’t think they will get a penny from the BSPA  Coventry speedway has been liquidated according to MH

Could worky not have sold some of their  assets to cover some of there losses to run rather than them going into the BSPA pot 

Their assets won't go into the BSPA pot...

With putting the licence on ice they retain their assets and bond. If a club close down correctly rather than collapsing they can get cash back...

Worky had arranged the sale of one of their riders at the back end of last season however this was blocked by the BSPA as they felt it left Workington light on assets... as a club is required to have a certain value of assets on their books...

If the club don't run next year Laura can still sell the assets she has on the books... 

Regards 

THJ 

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So rather than the BSPA letting  them sell a rider to maybe pay debt and help keep the club afloat and maybe help them run this year they blocked it oft 

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Absolutely devastated with this news though I guess not totally surprised, it was obvious that more people were required through the gate to make it viable.

There are so many reasons why we have ended up where are now, some which are endemic throughout the sport in this country (the main one being costs/riders wages outweighing income), and some which are specific to the Comets (uncertainty regarding the future of the stadium).

It is  a shame that last years success did not lead to a significant improvement in attendances and a stampede of sponsors beating down Laura's door, but we are where we are and it is a sad fact that the younger generations seem more interested in watching Sky/BT sport from the comfort of their armchairs/favourite bar than watching it live.

It is somewhat ironic that the costs of the proposed new stadium have increased due to it now accommodating a lot of Sellafield staff, the biggest employer in the region, making the largest profits and who could probably find £50k/£100k under the cushions of their swanky leather settees.

Unfortunately due to our particular circumstances relating to the stadium I fear this could be the end for speedway in Workington, though I hope I am wrong.

As well as all the remaining loyal supporters my thoughts obviously also go out to the  riders who hopefully can get fixed up elsewhere, however that will obviously result in others losing out.

A sad day indeed.

 

 

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Will they need to pay all  the debt  back before they can run again  or will it come from their bond I take it the riders from last year are still owed money also then as that’s where most of the money goes these days 

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Does this affect Northside too or is that an independent operation?

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43 minutes ago, TotallyHonestJohn said:

Their assets won't go into the BSPA pot...

With putting the licence on ice they retain their assets and bond. If a club close down correctly rather than collapsing they can get cash back...

Worky had arranged the sale of one of their riders at the back end of last season however this was blocked by the BSPA as they felt it left Workington light on assets... as a club is required to have a certain value of assets on their books...

If the club don't run next year Laura can still sell the assets she has on the books... 

Regards 

THJ 

I think the assets will come under the control of the BSPA, and if Worky has speedway debts(BSPA, Riders, other clubs) the BSPA will sell the Worky assets to pay off speedway debts as a priority.

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2 minutes ago, Sotonian said:

Does this affect Northside too or is that an independent operation?

Indépendant, and run by Malcolm McCoy.

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4 minutes ago, Sotonian said:

Does this affect Northside too or is that an independent operation?

No nothing to do with worky 

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9 minutes ago, Tsunami said:

I think the assets will come under the control of the BSPA, and if Worky has speedway debts(BSPA, Riders, other clubs) the BSPA will sell the Worky assets to pay off speedway debts as a priority.

Only if they're annulled

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