Big Al

Legally I think that's correct. But BSC Ltd has to my knowledge never traded from day one, and Leicester Speedway Ltd has been acting (and allowed to act) as though it is both the leaseholder and speedway operator. Far be it from me to suggest the Council has allowed this to happen, either by failing to understand the difference between the two companies or by just plain turning a blind eye to it. Whatever, the inevitable seems as if it could now be happening,chickens finally coming home to roost, and the Council may become leaseholder and landlord if they go about it in the correct way.

Resigned as promoter - yes that's old news. If kye1 is right, he has now resigned as director of the company which owns the club. But is he still the main shareholder? Have Mr and Mrs H fallen out with each other??

Chris Harris is the Norman Wisdom of speedway, little underdog guy who keeps on bouncing back no matter what gets thrown at him. He must be every team manager's ideal rider.

I get the feeling that the BSPA is now trying to run this match. May come down to if they can scrape together 6 or 7 riders to form a Leicester side and muster enough people to staff the meeting.

For the best part of 3 seasons I had an increasing feeling of idiocy, then just three times last year and I knew I was an idiot. And I only live 2 miles away

Mimmo have you tried Ibis Birstall, may be a bit cheaper and close to the stadium. Or maybe Mrs Hemsley can throw in some free accommodation as well??

Like the Swedish meeting Lindgren supposedly had a few weeks ago?? :-*

Well Flagrag to me it seems like DH is spitting out his dummy because of all of the perceived "injustices" he believes to have been perpetrated against him/Leicester. Trying to mitigate his losses by withholding payments due to riders whilst his company is apparently still trading. This seems to include attempting to "use" the bond money as a way of paying the riders, whereas that money is probably only for use in circumstances where the Company has become legally insolvent/has ceased trading. Meanwhile, the riders are trapped in the middle and are left with no option but to keep turning up because if they didn't, they'd be banned. Seems that if Leicester Speedway Ltd went into Administration that would resolve many of the problems but at the moment it looks like that would not be in DH's own interests and so he is trying to keep it afloat, including trying to use every trick in the book!

As DH is no longer the promoter, but still owns the club (Leicester Speedway Ltd), that of course leaves Messrs Darcy and Machin (according to the website) as the promoters. So have those two inherited responsibility for paying riders? They are not directors of LS Ltd so are presumably acting as individuals in their capacity as promoters and not as a company, approved by the BSPA. Presumably the gate takings don't go to Darcy and Machin, but still to Hemsley?? If so isn't he still responsible for paying the riders?

Just to hark back to flagrag's posts - he says the bond comes into effect when a club is "unable" to make payments to riders (and perhaps other parties). Does anyone know what actually constitutes "unable"......does it include temporary cash shortage, or does it mean when the company has actually gone into administration or liquidation? Is suspect it is the latter, in which case as Leicester Speedway Ltd is still apparently trading, the riders and others would not currently have access to obtaining money owed from the bond. I also suspect that if DH is trying to say he is no longer liable because he is no longer the promoter (for whatever reason), that is a red herring because he remains a director of Leicester Speedway Ltd, and as such would still be legally liable for payments due by Leicester Speedway Ltd (whilst it is still trading). From what Flagrag says, the loan from HSBC is almost paid off now (but it still shows as being "live"), but I still suspect that HSBC could be putting the squeeze on. There is another possibility as regards where income is going. Its quite commonplace with these sort of companies, for the proprietor/director to build into the company's debts a sum of money to re-imburse that person from the company's income for "professional services" that he himself has provided in setting up the company and developing it (in terms of time and expertise). In this case, the person would be David Hemsley, and he takes out what he is "owed". Perfectly legitimate, by the way. Maybe that's what has been happening recently. Think Philip Green and BHS but on a far smaller scale.

It doesn't look like Leicester Speedway is (yet) in the hands of official insolvency administrators. But I'd be surprised if HSBC hasn't been going in hard to try and get their money back, or at least some of it.So what are the circumstances in which the BSPA bond is drawn on, to pay riders points money owed? Does the speedway company (with which the riders have a contractual relationship) need to have actually become officially insolvent by going into Administration or Liquidation, or does it just need the company owner to just say "sorry folks, not my problem any more". It sounds a bit like Hemsley is trying to do the latter, and I'm not sure he can just get away with doing that. He is still (along with his wife and 1 other) a director and refers to himself as the owner of Leicester Speedway. So surely the riders still have a contractual relationship with him/Leicester Speedway and cant be fobbed off if, as you say, he's telling them to go to the BSPA? My bet is HSBC

I hope the takings from the match yesterday enable anyone who may be owed money by Leicester speedway to be paid soon.

You may well ask, Weatherwatcher. People having trouble getting refunds, riders owed several weeks money, matches being put back to later dates.(the Kings Lynn one is just re-arranging of the postponed one). It all adds up to what's commonly known as "cash flow problems", something I have on occasions experienced myself, and possibly you too. If it's gone a stage further than that, we are then talking about Insolvency, and that really does impose severe restrictions of course. I suspect efforts are going on to resolve the cash flow problems, probably of a short term nature to try and ensure the season is completed. And if that's the case, BSPA would certainly be involved to some extent. They would not want a team unable to fulfil it's remaining fixtures at this stage of the season, that would entail results having to be expunged and create all sorts of mess. So i doubt if you will know exactly what's going on, but it's a fair guess I'd say.

Sounds like you're more of a Norman Storer fan

That was Phil Herne.Jensen was more 000, next match 3033

I think they probably do have a good understanding of it. Highly useful, to help them prevent customers from being too knowledgeable. A few days ago i saw a report somewhere, that the LE4 postcode area is the country's highest for people being victims of scams. I just couldn't help thinking about the possible reasons or sources!!

Watch out Buster Chapman, sounds like Mads is getting mad

I bet there is now

Why?

This postponement has shown up the weaknesses of the Elite league in glorious technicolor.As a business model it isn't viable. There is way too much risk exposure, having huge vulnerability to the laws of Sod and Murphy. Have a high concentration of matches in April, when those brave enough to attend have to spend an evening having their nollocks frozen off, and compete for customers and media attention with football with attendances and income reduced accordingly.Then,in the height of summer, have a scarcity of fixtures,with additional risk if one of them is postponed (or gets mucked about due to a clash with something on the telly) of limiting the lifeblood of income at a time when income should be maximised. It's bonkers, completely crackers. If I went to a bank to ask for finance to start up a business with this model, they ought to send me packing!! So it's hardly surprising if Leicester took people's money if they decided to cross the threshold. They also had riders money for two away matches to cough up. From the postings on here of Kevin and Glyn, (the guys who know the track best) there was a fair chance of it going ahead, given more time. It's a shame it sounds like the Leicester promoters dealt with it a bit ham-fistedly.

I'm guessing that club owners don't need to be licensed/approved by the BSPA as they don't have the responsibilities of promoters (and being licensed and governed by BSPA/ACU rules) in terms of running a meeting and maybe don't deal with the BSPA/ACU. So whilst Leicester still has two licensed promoters, DH can still call the shots and at the same time sidestep any other aspects of the suspension which would apply to him were he still a promoter. I guess it also depends on how happy the promoters are, to let him carry on calling the shots and where the line is drawn between the three of them.

And you can be sure that if customers and staff don't turn up, the Hemsleys will be blaming everyone else except themselves

Such a patronising tone to the message! "We are planning to keep the bar area open so fans can watch the football match on the television if they wish". Sounds like a bl**dy public school Headmaster. Your customers ain't underling pupils, David, they're grownups. How about: "We'll have a TV set up in the bar, and supporters will be welcome to come in and watch the football after the end of our match."

Think the Mercury may get a letter from DH's solicitors for mis-quoting him! And the BSPA could slap another fine on him for making another fraudulent comment

In his Leicester Mercury piece today Mr Hemsley says Sky cameras will the there at Beaumont Park on Monday.