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Topic: Are tracks taking a big chance
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December 23, 2008 at
04:20:33 PM
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12/08/2007
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How much down payment are tracking paying out to be on the schedule of the WRGI owned series? Are these tracks taking a large chance paying these down payments to a company who is bleeding massive amounts of red ink. The company is looking at another year of losses between $10-$15 million. Very little cash available and a stock price trading at a penny a share. With the current economy where good companies are having a hard time finding operating capital, one has to wonder how long such a mismanaged company such has WRGI can continue. I wonder if tracks are going to get stuck holding the bag if the WRGI series are unable to continue in 2009. I cannot remember a company with a stock price of a penny a share ever making it.
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December 23, 2008 at
06:04:16 PM
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Reply to:
Posted By: Gojira on December 23 2008 at 04:20:33 PM
How much down payment are tracking paying out to be on the schedule of the WRGI owned series? Are these tracks taking a large chance paying these down payments to a company who is bleeding massive amounts of red ink. The company is looking at another year of losses between $10-$15 million. Very little cash available and a stock price trading at a penny a share. With the current economy where good companies are having a hard time finding operating capital, one has to wonder how long such a mismanaged company such has WRGI can continue. I wonder if tracks are going to get stuck holding the bag if the WRGI series are unable to continue in 2009. I cannot remember a company with a stock price of a penny a share ever making it.
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Is the sky falling in your world today? 
Stan Meissner
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December 23, 2008 at
06:08:27 PM
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Promoting any racetrack in the United States of America is taking a risk. It doesnt matter if its a weekly show or an Outlaw show. So to answer your question, "Yes, tracks are taking a risk booking an Outlaw race." it doesnt matter though the races will happen and the chips will fall where they may. I wont lose any sleep over it.
Cheers!
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December 23, 2008 at
08:22:15 PM
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This message was edited on
December 23, 2008 at
08:24:50 PM by Eagle Pit Shack Guy
Not as much of a financial risk as booking an ASCS regional or All-Stars show, as evidenced by the fact that the only sprint special at Eagle last year that didn't lose money was the WoO show.
Do you take a risk just getting out of bed, taking a shower, driving to work or any of 1000 other things people do daily??
Those who promote or own racetracks almost always do it for the love of racing. Sometimes you have to risk things to do what you love.
If you're curious about the initial outlay go rent a track somewhere and book a show. Heck, Eagle would be glad to rent the place to you for the right show at the right time of year. 
I am lucky enough to work at one of the best tracks
anywhere.
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