Financial Bubble in Polish Speedway

[PolskiZuzel]

I don't know how many of you bother to read the Polish sports daily "Przeglad Sportowy" articles concerning speedway ( in Google translation.) I came across today the one that might interest you, so here it is:

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The financial bubble in Polish speedway is growing to dangerous proportions, and recurring reports of multi-million-zloty debts among clubs only deepen concerns about the future of the sport. In an interview with the Polish sports daily “Przegląd Sportowy” Jan Krzystyniak does not mince his words. The former elite rider and coach offers a scathing critique of those managing Ekstraliga clubs, predicting the imminent collapse of the sport unless there is a harsh, sobering encounter with reality.

Record-breaking rider contracts and bidding wars in the transfer market have brought Polish speedway to the brink of an abyss. Some clubs are taking on massive financial obligations that they cannot meet without the help of bank loans or support from local governments. 

Jan Krzystyniak points directly to those responsible for this state of affairs. "If these gentlemen—and I am referring to the presidents of the Ekstraliga clubs, because let’s be honest, a great deal depends on them—do not come to their senses, then speedway could simply collapse. We can see what is happening to this sport globally." "A similar situation could well unfold in Poland, as clubs simply won't be able to afford paying such astronomical sums to riders," our expert thunders.

One proposed solution to rising costs was to revisit the idea of an imposed salary cap (such as a CMA-based system or defined financial brackets). In the case of financial brackets, this would essentially rely on an agreement between club presidents, as the speedway authorities’ hands are largely tied. Krzystyniak, however, dismisses such notions as pure fiction within the Polish context; in his view, club officials would inevitably find ways to circumvent the rules.

"I spoke about where things were heading ten, maybe fifteen years ago. Even back then, the topic of setting a salary cap was being discussed. In the Polish reality, establishing such limits is largely pointless. We know what these people are capable of: they’ll officially offer a rider a thousand zlotys, while slipping him a million under the table. That’s just how things work in Poland. If you brought in people from Sweden or England to manage these clubs, they could probably establish and enforce such rules in a day or two. No one would break ranks, because in those cultures, one’s word is worth more than money," the former coach points out bluntly. 

Despite his dire assessment of the situation facing the clubs, Krzystyniak paradoxically defends the speedway riders themselves. He argues that the riders cannot be blamed for inflated contracts; they are simply taking advantage of the poor financial management of club presidents.

"It’s pathological. I honestly don’t believe in any agreements that could solve the problem of clubs constantly falling into debt. Solutions must be implemented to save the sport of speedway. That said, I always tell the riders: demand as much as you can! If there are guys—suckers, to call them what they are—who are willing to pay that much, then you should ask for as much as possible. I will always stand on the side of the riders," he declares bluntly.

The debt burden of Polish speedway clubs is currently the number one topic of discussion. In the worst cases, debts are said to reach tens of millions of zlotys, and almost every club in the country faces some level of financial trouble—with perhaps a few exceptions, such as those in Wrocław or Toruń.

"Besides, even the wealthiest nations in the world carry massive debt—just look at the United States or China. Yet, people in those countries often live well. So, is there a cure for this situation? I’m not sure if a truly effective solution can be found. Unless the presidents of the Ekstraliga clubs change their way of thinking, it will be difficult to save speedway, because that is where it all begins," concludes Jan Krzystyniak.