Archer Capital Gone

[one five five]

Originally Posted by chavez

CAMS will have bigger decisions to make in the future, such as which category to award the title of Australian Grand Prix to.

S5000 at Bathurst in November for the AGP?

[cavvy]

Are they allowed to run at Bathurst?

[cavvy]

Originally Posted by GreenMachine

The blind leading the blind?

Virgin Blue made a profit more often than not?

[chavez]

Originally Posted by cavvy

Are they allowed to run at Bathurst?

Yes, it is on the calendar for November.

[bludvl_x19]

Its on the calendar, but unlikely. They're the wrong side of the formula used to allow Bathurst to run.

[slugger]

When the major shareholder decides to offload citing it as a poor choice of investment then surely its future as a value proposition must be in doubt.

[one five five]

Originally Posted by bludvl_x19

Its on the calendar, but unlikely. They're the wrong side of the formula used to allow Bathurst to run.

AGP at Sandown for S5000 in September then?

[cavvy]

Too cryptic for me, pls explain?

[bludvl_x19]

Originally Posted by one five five

AGP at Sandown for S5000 in September then?

We are finding ourselves further from the topic, but I don't think there will be a 2020 AGP in any sense.

[Alan52]

Originally Posted by cavvy

Virgin Blue made a profit more often than not?

2 years in the last 10.

[cavvy]

Originally Posted by Juarez Jed

Meanwhile Supercars chairman Peter Wiggs is busying himself trying to rescue Rugby Union from a "$120m abyss", at a time when it has no broadcast partner. It was noted in the Rugby press that the continuing slide in the value of Supercars raises questions about his ability to pull it back from the brink. He is joined on the Rugby board by former Virgin boss Brett Godfrey.

“Supercars has been a poor investment for Archer Capital, and we make no secret of that,” Wiggs reportedly told The Australian.

“We probably purchased it at the top of the market. And we’ve faced difficult structural issues since the day we acquired it.

“Obviously the first three years were particularly difficult, where we saw a decline of earnings of 66 per cent.

“But since I got involved as chairman, and have had the benefit of two extremely good CEOs in James Warburton and Sean Seamer and a very good management team backing those guys, and a very good partnership with the teams, we’ve managed to turn that around.”

https://www.speedcafe.com/2020/05/04...rom-supercars/

&

Mr Cochrane will be smiling on by the acknowledgement of the deal done:
“We probably purchased it at the top of the market. And we’ve faced difficult structural issues since the day we acquired it.

“Obviously the first three years were particularly difficult, where we saw a decline of earnings of 66 per cent.

[Mixer]

Originally Posted by cavvy

Virgin Blue made a profit more often than not?

Yeah, no

Originally Posted by Alan52

2 years in the last 10.

They lost almost $1bn in 2017 and 2018 financial years alone.

Average $200m loss per year since 2010
Against that a $22m profit in 2010 and 2012.

Anybody that bought junk bonds in 2019 or wants to tip more money into it now has to have rocks in their head.

[cavvy]

Virgin Blue 2000-06, Mr Godfrey.

[Mixer]

Originally Posted by cavvy

Virgin Blue 2000-06, Mr Godfrey.

Still at least $400m in the red even with $44m in profits to show...

[D.R.T.]

Originally Posted by cavvy

“Supercars has been a poor investment for Archer Capital, and we make no secret of that,” Wiggs reportedly told The Australian.

“We probably purchased it at the top of the market. And we’ve faced difficult structural issues since the day we acquired it.

“Obviously the first three years were particularly difficult, where we saw a decline of earnings of 66 per cent.

“But since I got involved as chairman, and have had the benefit of two extremely good CEOs in James Warburton and Sean Seamer and a very good management team backing those guys, and a very good partnership with the teams, we’ve managed to turn that around.”

https://www.speedcafe.com/2020/05/04...rom-supercars/

&

Mr Cochrane will be smiling on by the acknowledgement of the deal done:
“We probably purchased it at the top of the market. And we’ve faced difficult structural issues since the day we acquired it.

“Obviously the first three years were particularly difficult, where we saw a decline of earnings of 66 per cent.

Do you think Cochrane saw the writing on the wall and got out? That channel 7 deal signed for 2007 - 2012 was massive overs for what it delivered and anyone trying to sell a deal on the back of that was on a hiding to nothing.

[GreenMachine]

Wiggs now gone from RA board, after trying and failing to place a mate outside of some sort of open selection process, apparently a dummy spit at not getting his way.

Upside for Supercars, he now has more time to sort their issues. Downside, well ... Peter Wiggs.

Maybe Cochrane can 'do a Bond', and buy it back for a song ... OTOH, he is probably too busy counting the money he got from Archer

[Juarez Jed]

Funny how Wiggs tried to do a Supercars deal at Rugby Australia by appointing a new CEO without consulting anyone and also looked at European private equity partners to save the code.
Rugby Australia knocked back a $200m TV deal with Foxtel and are now having trouble finding a $12-$15m broadcast partner.

[cavvy]

Long time since I read Coch0s book & I dont recall how it was covered.

I'd guess they (not just Coch0) they couldnt refuse !!

[D.R.T.]

Originally Posted by Juarez Jed

Funny how Wiggs tried to do a Supercars deal at Rugby Australia by appointing a new CEO without consulting anyone and also looked at European private equity partners to save the code.
Rugby Australia knocked back a $200m TV deal with Foxtel and are now having trouble finding a $12-$15m broadcast partner.

Was the Fox Sports offer actually that high? By all accounts they lowballed RA on the back of some pretty low tactics via Daily Telegraph and associates to force RA into a corner. For example the campaign against Ralene Castle.

[Casper]

You have got to wonder how Archer are going to deal with SC in the next two years if they are going to exit the fund as per their original time table as it can't have be very desirable at anything like the price they paid for it.

[Juarez Jed]

Originally Posted by D.R.T.

Was the Fox Sports offer actually that high? By all accounts they lowballed RA on the back of some pretty low tactics via Daily Telegraph and associates to force RA into a corner. For example the campaign against Ralene Castle.

That may well be true mate but they wouldn't lowball & risk Rugby going to Optus if it was a product they valued and wanted to keep.
Supercars will have the same problem unless they are prepared to take a severe haircut I would imagine.
Traditionally the Bathurst race was the trump card that the free to air networks wanted but only Foxtel or streaming can accommodate the wall to wall quantity over quality (thanks Will Hagon) programming that Supercars TV pumps out nowadays.
I just cant see streaming services delivering upfront the big fat cheque that Supercars have become dependent on.

[D.R.T.]

Originally Posted by Juarez Jed

I just cant see streaming services delivering upfront the big fat cheque that Supercars have become dependent on.

Can you see anyone delivering such a cheque to Supercars?

[V8 Fireworks]

Mispost.

[V8 Fireworks]

Originally Posted by D.R.T.

Can you see anyone delivering such a cheque to Supercars?

I think SBS Speedweek would be an excellent home for the Supercars series!

Surely Supercars should put their sponsors together, collect TV fees from entrants, and pay for their own airtime just like any other category!

[Mixer]

Don't call it a crisis meeting!

https://www.speedcafe.com/2020/05/13...RYdAeD84NZfqPE

I am actually not sure that Archer could find anybody to pay any amount of money for the shares that they own.

Be interesting to see what happens.