Poole Make Financial Loss In 2012

[TesarRacing 1,828]

"Made a loss"= good accountant. Don't want a profit to we. The taxman would come sniffing.

I very much doubt that.

You can't just make a loss every year just to avoid tax. It leads to access to finance drying up and suppliers not supporting you.

 

Worrying situation.

[moxey63 1,785]

No really the same, is it?

 

Those companies have one aim, make a profit for their shareholders. Speedway clubs are typically owned by a rich benefactor who enjoys the "glamour" of owning a team. Anyone who buys a sports club with the aim of making a profit is in for a shock.

 

Who in their right mind would lose money every week, just to feel the glamour of owning a speedway club which, at the end of the day, boils down to a few rakes and portacabins. Speedway's problem, is that promoters are (if you believe it) prepared to lose money every season, and therefore there is no urgency to run the sport correctly. As the recent closures in High Street stores indicates, there is a problem if you are losing money. Would these promoters treat the businesses that they earned their cash from with the same attitude, businesses they have probably burnt many a sleepless night building.

Why would anyone in their right mind then decide to start to waste that hard-earned money on running a speedway, risking the individual concerned losing his fortune?

I know what I'd sooner have - and that's my money in the bank, not remembered as some fool who had a dabble as a speedway promoter but lost everything.

Come on fellas... take a risk, albeit a smaller one, and see if you would be as silly. On the next windy day, go into the street, hold a crisp £20 note into the air before releasing it. Close your eyes and count to 20, and then try to recover the money. No, thought not. You wouldn't risk it, would you.

And yet you still believe somebody is prepared to throw away money, just for the glamour of owning a speedway club.

And so lies speedway's problem: people running speedway who are prepared to lose money.

Personally, I don't think many promoters are losing money. For decades they've said the same. If they boasted of making money, they wouldn't be able to increase admission prices to the levels they are today, for one thing. Tax is another.

Edited January 18, 2013 by moxey63

[Vince 9,459]

For the biggest current club in British Speedway to report a financial loss when they have previously been proud to announce that they are one of the few financially viable clubs has to be some of the most worrying news of the winter. Put it alongside the possible loss of Sky or a lesser deal from them at the end of the year and it would appear there will need to be some really drastic changes in the very near future.

 

Could be the end of the professional sport as we know it or just maybe the opportunity to restructure and improve.

[MattK 3,447]

Personally, I don't think many promoters are losing money. For decades they've said the same. If they boasted of making money, they wouldn't be able to increase admission prices to the levels they are today, for one thing. Tax is another.

 

So Newport closing, Oxford not paying their rent, riders not getting paid, promoters entering the sport for a season or two and then leaving without a pot to p1ss in - this is all part of British speedway's elaborate plan to fake losses?

[Kester 3,095]

So Newport closing, Oxford not paying their rent, riders not getting paid, promoters entering the sport for a season or two and then leaving without a pot to p1ss in - this is all part of British speedway's elaborate plan to fake losses?

 

Agreed, it's a more laughable conspiracy theory than the Moon landings not taking place and aliens living under Denver Airport (This one is really out there - type it into a search engine and find out what some deranged US citizens think is real) .

[Tsunami 10,219]

So Newport closing, Oxford not paying their rent, riders not getting paid, promoters entering the sport for a season or two and then leaving without a pot to p1ss in - this is all part of British speedway's elaborate plan to fake losses?

 

Quite agree but it's what you expect from the likes of Moxey, oldace, etc, who won't waste an opportunity to knock a sport that both won't ever attend. Sad old gits.

[moxey63 1,785]

So Newport closing, Oxford not paying their rent, riders not getting paid, promoters entering the sport for a season or two and then leaving without a pot to p1ss in - this is all part of British speedway's elaborate plan to fake losses?

 

What surprises me more... are the people who fall for promoters' sob stories. Being honest, the few tacks that have closed are chicken feed compared to the reality of the situation - most are still running. I mean, look at the teams willing to take another hit and arrive at tapes for another record-breaking season of huge losses this coming March.

[MattK 3,447]

What surprises me more... are the people who fall for promoters' sob stories. Being honest, the few tacks that have closed are chicken feed compared to the reality of the situation - most are still running. I mean, look at the teams willing to take another hit and arrive at tapes for another record-breaking season of huge losses this coming March.

 

OK. We'll have to agree to disagree. I'll take promoters and their sob stories at face value and you can take them as the biggest conspiracy since the JFK's assassination.

[jimmy jimmy 298]

 

 

What surprises me more... are the people who fall for promoters' sob stories. Being honest, the few tacks that have closed are chicken feed compared to the reality of the situation - most are still running. I mean, look at the teams willing to take another hit and arrive at tapes for another record-breaking season of huge losses this coming March.

 

And here we go again, the man who will happily dance on the grave of British Speedway, whilst wearing his memorabilia like a crazed villain from Silence of the Lambs. Moxey you are priceless, I bet you are a FC United of Manchester fan convinced that the Glasers are the antichrist!

Edited January 18, 2013 by jimmy jimmy

[BluTiger 21,719]

Watching meetings at Belle Vue and Lakeside on tv, im suprised they can pay their electric bill...

[dontforgetthefueltapsbruv 10,731]

I am in no way saying that all in the garden is rosy - only a fool would claim that - but to play devils advocate to Moxeys position it is possible for the company to show a loss and the owners to still be making money.

 

Directors salaries/dividends etc would reduce the bottom line.

 

That said I personally doubt any promoter - even Mr Ford- is growing fat from his speedway right now.

[Tsunami 10,219]

I am in no way saying that all in the garden is rosy - only a fool would claim that - but to play devils advocate to Moxeys position it is possible for the company to show a loss and the owners to still be making money.

 

Directors salaries/dividends etc would reduce the bottom line.

 

That said I personally doubt any promoter - even Mr Ford- is growing fat from his speedway right now.

 

No one is at the moment, especially after the rainoffs last year. I think everyone can understand that, except the usual suspects with their own knocking agenda. Last year was bad for most companies, except wellies manufacturers, but when a business is affected by weather conditions then that is another recipe for further losses. Some speedways are owned by promoters that have another businesses that can make a profit, and sometimes it has to offset the speedway losses. Nobody is getting rich except for that odd one.

[jimmy jimmy 298]

Very few professional sports clubs regularly make money. Poole have in the recent past, but with all the rain offs and loss of sponsors, they may have to cut back in the future unless they can secure replacement sponsorship this season. It's a fact of life and in the current economic situation many clubs will face an uphill battle to keep/find sponsors. If sky pullout of EL sponsorship at the end of the season, then the whole face of British speedway will change, and we may not see the Holders or Wards on the UK as clubs won't be able to afford them, and the entire sport will go back to a PL standard. It probably will survive, but would have to rebuild itself.

[New Science 1,059]

Spot on

The Elite League is a smokescreen for clubs to report losses but in reality making healthy profits.

The sport is in rude health,what have we all been worrying about ! roll on next season

Joking aside ! Poole have had 3 successful seasons in a row in the league,top end of the table regular season and play off finalists 3 years in a row.It would be interesting to know how the finances compare at Poole for those 3 years of similar success.Another topic on this forum debates the start of the decline of the sport,it would be interesting to see the finances at Poole to see if there has been a significant decline in revenue since 2010.Guess we will never know but a comparison of 2010,2011 and 2012 would be interesting ! Edited January 19, 2013 by New Science

[The White Knight 9,041]

I am in no way saying that all in the garden is rosy - only a fool would claim that - but to play devils advocate to Moxeys position it is possible for the company to show a loss and the owners to still be making money.

 

Directors salaries/dividends etc would reduce the bottom line.

 

That said I personally doubt any promoter - even Mr Ford- is growing fat from his speedway right now.

 

The most telling sentence in the whole Thread. :sad:

 

It will get worse next Season as the further 80% of Government 'Cuts' that are still to hit us take effect. :sad: