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old bob at herne bay

Will British Speedway Survive ?

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if it's a loan though how many of the current promoters will be prepared to take it on with an uncertain future?

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Some tracks might make more money through any possible compo than they would if they were running a full lossmaking season!

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11 minutes ago, waytogo28 said:

Some tracks might make more money through any possible compo than they would if they were running a full lossmaking season!

Agreed...WTG and that was my point I made previously....before even making an offer of help the government will audit Sports including BSPA-Speedway and a 1st year novice accountant will see the poor financial state the sport has been in for some time and that will be that. It would be like bailing out Woolworths and BHS.! Also the government will have much more pressing priorities to deal with than speedway. Money will be extremely tight...even for essential services. In the grand plan of this serious worldwide crisis Speedway, I’m afraid, is totally insignificant.

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3 hours ago, waytogo28 said:

Some tracks might make more money through any possible compo than they would if they were running a full lossmaking season!

Do you have a link to this "compo"?

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42 minutes ago, MattK said:

Do you have a link to this "compo"?

Better to ask Geoff - he only comments when he has proof so must have the link you would like ;)

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4 hours ago, Speedtiger said:

Agreed...WTG and that was my point I made previously....before even making an offer of help the government will audit Sports including BSPA-Speedway and a 1st year novice accountant will see the poor financial state the sport has been in for some time and that will be that. It would be like bailing out Woolworths and BHS.! Also the government will have much more pressing priorities to deal with than speedway. Money will be extremely tight...even for essential services. In the grand plan of this serious worldwide crisis Speedway, I’m afraid, is totally insignificant.

what a surprise another doom & gloom post :rolleyes:

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50 minutes ago, dontforgetthefueltapsbruv said:

Better to ask Geoff - he only comments when he has proof so must have the link you would like ;)

:nono:

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34 minutes ago, geoff58 said:

what a surprise another doom & gloom post :rolleyes:

Geoff, you need to get your head out of the sand, wise up, grow up and face up to the real world.

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36 minutes ago, Speedtiger said:

Geoff, you need to get your head out of the sand, wise up, grow up and face up to the real world.

Can you explain why speedway clubs, which are limited companies, would not to eligible to apply for the Coronavirus Business Interruption Loan Scheme:

https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/

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12 hours ago, MattK said:

Can you explain why speedway clubs, which are limited companies, would not to eligible to apply for the Coronavirus Business Interruption Loan Scheme:

https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/

Matt. I’m a realist not a pessimist.

Ive never said speedway clubs are not eligible to apply BUT there’s a big difference in being eligible to apply and actually getting financial help. Not all clubs are limited companies. Speedway doesn’t directly employ that many people as all riders are self employed and Clubs have lots of unpaid volunteers to make the sport work so will not be judge a priority to save jobs which is the main criteria of getting help. Any loans that clubs, who are probably already in debt, may obtain will be only adding to that debt and will no doubt be personally secured by the borrowers. Clubs may have to accept strict loan terms due to desperation because at this stage clubs will have paid out large sums of money in preparation and anticipation of the season starting and much needed cash coming in which leaves them very exposed. As always the devil in all of this will be in the detail. 

 

 

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22 hours ago, Speedtiger said:

Geoff, you need to get your head out of the sand, wise up, grow up and face up to the real world.

says you unreal :rofl:

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9 hours ago, Speedtiger said:

Matt. I’m a realist not a pessimist.

Ive never said speedway clubs are not eligible to apply BUT there’s a big difference in being eligible to apply and actually getting financial help. Not all clubs are limited companies. Speedway doesn’t directly employ that many people as all riders are self employed and Clubs have lots of unpaid volunteers to make the sport work so will not be judge a priority to save jobs which is the main criteria of getting help. Any loans that clubs, who are probably already in debt, may obtain will be only adding to that debt and will no doubt be personally secured by the borrowers. Clubs may have to accept strict loan terms due to desperation because at this stage clubs will have paid out large sums of money in preparation and anticipation of the season starting and much needed cash coming in which leaves them very exposed. As always the devil in all of this will be in the detail. 

 

 

doom & gloom darth reaper is here again :rolleyes:

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On 3/16/2020 at 11:38 PM, old bob at herne bay said:

With sporting events across the UK now cancelled until further notice, and Speedway surely set to follow once the BSPA has met tomorrow, can British Speedway put 2020 league speedway “on ice” , and possibly just run some ad hoc open meetings later in the year ?

Surely with no meetings, the costs for a club are nil . No rent, no riders wages? These are extraordinary times and covid 19 and the consequential are surely a “force majeure” event ? 

 

 

 

Personally if it's over in a month or so we may be ok. Up to 6 months or a year of disruption I think speedway like many other businesses will go to the wall. The government cant just print an endless pot of money otherwise hyper inflation will kick and it'll probably cost you about 50 quid or more to get into a meeting. The cost alone of a basic bailout will have severe consequences in years to come. We could be looking at 25 percent income tax and vat.

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9 hours ago, TB1 said:

Personally if it's over in a month or so we may be ok. Up to 6 months or a year of disruption I think speedway like many other businesses will go to the wall. The government cant just print an endless pot of money otherwise hyper inflation will kick and it'll probably cost you about 50 quid or more to get into a meeting. The cost alone of a basic bailout will have severe consequences in years to come. We could be looking at 25 percent income tax and vat.

Everyone comments on the Government propping up this and supporting that. Yes, of course it's not an endless pot of money - our money - the G. has none of it's own ( other than the around £500 billion they are borrowing on our behalf , for us to pay back ). I agree that the next ten years will be spent ( as the last 10 or so were ) in rebuilding the economy and Yes, income tax and VAT will have to rise. How else do you pay off the biggest ever debt?

And Boris's bold statement of " We will send it packing in 12 weeks" will be yet another foolish utterance and words he will later choke on. The way he has led the handling of the Covid19 crisis, marks the end of his Premiership.

Edited by waytogo28
additional point made

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The announcement that social distancing could persist for another 12 months, will probably rule out most sporting events for the majority of the population.

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