JamesB

I have simply outlined the challenges, complexities and timescales as they relate to the sale and purchase of a business. You can ignore those realities if you so choose. I assume from your comments that Louis should have been prohibited from selling his own business and must continue to own it ad infinitum - bizarre on a number of levels. I have made no reference to the BSPL or Speedway Futures, so not sure how I am giving them a free pass.

Sorry, but that’s a ridiculous statement in relation to the Ipswich takeover. I have said before that if they complete the financial and legal due diligence in 6-8 weeks, then that would be some going. Just on the legals; Spedeworth will have a head lease with the ultimate owners and a sub lease with Louis. Both leases will have required a full legal review and the head lease may have restrictive covenants about who Spedeworth can sub let to and probably requires prior approval of the ultimate owner to any novation of an existing lease or creation of a new sub lease. I seem to remember reading somewhere, quite a while ago that the ultimate owner is the original Ipswich Speedway which if true means that entity was formed many years ago and may have a complex ownership structure e.g. some form of Trust structure and be governed by a Trust Deed, etc which would complicate decisions and approvals even more. The sale and purchase of a business is a complex and time consuming process.

I have been very sceptical about the 6th team, but I heard the same about Northampton being close. I also believe that Ipswich is done and the announcement is very soon.

Maybe, the new owners plan a ‘major’ PR event. Rather than just publicising the completion of the takeover, they may also want to announce the 2026 1-7 at the same time. That approach would be understandable, hence the need for the No 1 to be signed up prior to any announcement.

…but that’s the problem. Until contracts are signed there is no sale of the club and there is no way that Louis can state that the Witches will come to the tapes in 2026 (unless he is prepared to run it in the event of the sale being frustrated). Also, the NDA will not allow him to provide a running commentary on the sale. The only thing he can say is that negotiations continue well but everything is subject to contract, which is exactly what he has said. I still do not understand how the BSPL were able to announce that there will be a minimum of five clubs including the Witches in 2026. I remain with my fingers well and truly crossed.

We are all frustrated, but to be fair to Louis, I don’t there is a great deal he can say at the moment. Firstly, there will a Non Disclosure Agreement in place which stops either party discussing the potential transaction in any detail. Secondly, Financial Due Diligence, Legal Due Diligence and the drafting of contracts all needs to happen which is normally a lengthy process. If they achieve all of the above in 5-6 weeks, which looks likely to be the case, then I think they will have done remarkably well.

I’ve said it on here before and now Louis directly references it in this latest interview. Due Diligence, both Financial and Legal is a critical element of the sale process of any business and takes place after the parties have agreed the terms of the sale/purchase. I will remain nervous until confirmation that contracts have been signed.

I have counted 14 riders (including R/S’s) in declared Premiership line ups who will be doubling up/down in 2026. There are still 14 Premiership places to be filled, so a good few still to be added. Even more if the sixth team materialises. How can speedway in this country cope without doubling up/down? Also, how could one league work if another 15/20 riders had to be found?

If it’s Mayfield then that will put a rocket up the BSPL!

Some interesting wording used in that statement; ‘a sale has been agreed’ and ‘now going through due process’. Does that mean that Financial Due Diligence has been completed or will now be undertaken as part of the ‘due process? FDD can scupper an agreed sale, so if it’s the latter, then I remain a little nervous. Hopefully, it is just referring to completion of the legals.

You’re not buying the line of a sixth team then? 😂

We are confirmed as running - good news. No further details in the AGM statement. Edwards is the RS.

Something always seems to go wrong when our Norfolk brethren start to catch up in a limited way with the sporting achievements of their Suffolk counterparts. I seem to recall that the Budgies couldn’t play in Europe when they finally did qualify. I suppose there might come a day when they win a European competition, the Division 1/Premiership or even the FA Cup. 😀

The statement clearly said that ‘the Premiership will feature a minimum line up of five teams’. Therefore, one of the following must have been true at the time of the announcement: 1. The sale of the Witches was all but done bar the paperwork. or 2. A new team had agreed to run in 2026. Clearly, in light of the Louis update, 1. had not happened. If 2. had happened then would they not have been better off confirming that fact, even if it was subject to formal agreement at the AGM which surely would be a ‘give un’. I am not convinced that either of the above had/have happened. My view is that their preferred outcome is that the sale of the Witches is completed and that they compete in the 2026 Premiership. If this doesn’t happen, then I suspect that there is a cobbled together Plan B that they will fall back on.

That’s some welcome good news. Do you think so? I thought he was happy with just Lynn and didn’t want the additional hassle of another team.

Zmarzlik has finally decided that he needs to improve his small track skills………..😀

I hope you are right in so far as: 1. The Witches come to the tapes next season. 2. We have a good number 1 and competitive team.

Hmmm. I smell something fishy here and it’s not the contents of Baldrick’s apple crumble.

Are you sure about this? If Louis is in Australia and there has been no sale agreed, who can they be doing deals with? Have Kevin Long and Bob Ellis been given some delegated authority?

That would be one hell of a schedule particularly when you add in the GP’s as well.

You may be correct, who knows. If you are, then Louis needs to be careful that he is not painting himself into a corner. Closing the club down for a year is very likely to decrease its value further particularly in a downgraded ‘one league scenario’ for 2027. Also, it’s easier to sell a business that is still trading. Taking an offer now could be preferable to a reduced offer or even no offers following the 2026 season. Perhaps, he is hoping for a 2027 model that is more to his liking and continuing to run the club after a seasons break. Only time will tell.

If the idea is that teams are to pick their own race night ‘to ensure their survival’, then that has to be the case. However, this is what I genuinely do not understand about the one league argument predicated on teams choosing their own race nights. De Facto, that must preclude the inclusion of anyone who races in Poland, Denmark and maybe Sweden. The only alternative is to allow these riders and cover their frequent absences by r/r or guest, which would bring us full circle. If they are to be precluded, where are all the riders going to be found for the one league?

Therefore, whatever those nights are then they become the ‘mandated race nights’ for which riders must be available. If that is Monday, Wednesday, Thursday, Friday and Saturday then so be it.

I agree with you 100%. If there is to be one league then it has to be based on and only use riders that are available on whatever nights are mandated as race nights. I don’t like the idea of one league but if that is the only solution then at least ensure it has credibility.

He can inform them as many times as he wants. If he has signed a contract then unless Scunthorpe agree to release him from it he has to ride for them. If he doesn’t, then he is in breach of contract and can ultimately be sued by Scunthorpe. If he hasn’t signed a contract, then happy days.