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18 Apr 2021, 22:51 (Ref:4046632) | #151 | ||
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The more I hear from Adderton, the higher on the Flog scale he achieves
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In the words of the Great Forrest Gump: I'm not a smart man, but at least I know where the Dog on the Tuckerbox is |
21 Apr 2021, 06:17 (Ref:4047002) | #152 | ||
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21 Apr 2021, 09:06 (Ref:4047028) | #153 | |
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25 years ago the fanbase didn’t like him anyway as he was involved in Super Touring....
Everyone bangs on about how Supercars is a business.... why WOULDNT anyone want a businessman like Peter Adderton owning it? |
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21 Apr 2021, 23:01 (Ref:4047187) | #154 | |||
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Quote:
There'd have to be concerns over his flakiness in public comments and whether that transfers to flakiness in running a motor sport business I guess - he's regarded as being pretty off the wall in motor sport circles. He himself doesn't think that he can make it work with a minority shareholder group, so to me he ain't the right person if he genuinely believes that. Not convinced that he'd be less good than Archer though - they simply don't seem to have come to terms with the business and what it needs, even after all these years - at least Mr Adderton has an appreciation for the sport. |
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21 Apr 2021, 23:03 (Ref:4047188) | #155 | |
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We need someone who knows what’s best for the sport. Otherwise there’s no point. Someone who can make it profitable without alienating the fans. Hopefully Peter can do that, fingers crossed. There needs to be a fair trade off between sport and business and at least Peter seems clued in with regards to the sport
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22 Apr 2021, 20:34 (Ref:4047394) | #156 | |||
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Quote:
Can you remember how competitive the Super Touring series was when Adderton was an owner? |
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22 Jun 2021, 05:17 (Ref:4057702) | #157 | ||
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Recent discussion about Archer Capital & Supercars:
https://www.theaustralian.com.au/bus...41e9ee32aa6e50 ... Supercars .... where private equity outfit Archer Capital is trying to offload its majority stake. Archer has an information memorandum doing the rounds for the competition, which does roughly $20m in annual pre-tax earnings. Four or five parties have kicked the tyres on the investment, in a process being run by Miles Advisory. But the glory days are well and truly over in terms of Archer’s value. It paid $180m for its 65 per cent .... One source said it might only get $30m-$35m, but another thought it could double that. As always, complicating matters are the owners of the Supercars teams themselves, who own just about all of the remaining 35 per cent of shares. There are said to be “drag and tag along” provisions in the contract between Archer and the teams, effectively meaning the teams may have to be bought out at the same value that Archer would theoretically sell its shareholding at. That is said to have proven to be a stumbling block in previous attempts by Archer to sell out. |
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more torque than a climate change conference |
22 Jun 2021, 12:13 (Ref:4057749) | #158 | |
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That's interesting. Supercars is a great series, I just it continues to be in the right hands. I don't want it sold to the wrong hands. I just hope a company that understands the sport is part of it.
I can see why Archer are selling, they aren't getting the profit. It seemed they would do well when they bought it and now they need to get what it can out of it. We'll see I just hope the Supercars team owners have their say in it as well, they don't want their series sold down the river to some company that don't care about the sport I just hope it gets resolved in good time and with what is best for the series and the teams. The series is great, but it needs a sustainable future. There should hopefully reasons for optimism |
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He who dares wins! He who hesitates is lost! |
22 Jun 2021, 13:27 (Ref:4057753) | #159 | |||
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Quote:
11.1%pa pre tax is pretty handy when term deposit rates are mostly sub 1% pa And yes, the return gap is at least partially reflective of the additional risk in running an enterprise & creating something rather than letting money die in a bank… How many boats can you waterski behind?? |
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Happy David Thexton Day, 21st March 2003 “I am not uncertain” - Dollar Bill Stern, Billions “Fear stimulates my imagination” - Don Draper, Mad Men “Everybody Lies” - Dr Gregory House, House “Trust But Verify” - Commissioner Frank Reagan, Blue Bloods |
22 Jun 2021, 22:07 (Ref:4057802) | #160 | |
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It shows they didn’t think it through. And it seemed such a good idea at the time. Time for them to go. It’s clear they didn’t do enough and should focus their energies elsewhere
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He who dares wins! He who hesitates is lost! |
23 Jun 2021, 01:37 (Ref:4057814) | #161 | ||
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11.1% return might make Archer happy.
I'm not as good at numbers as you GTR but does that mean the 35% share that the teams own returns $10.7m/year? Not a lot across that number of players for the cash they tip in... And that's before Mr Frydenberg takes his slice. |
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23 Jun 2021, 02:25 (Ref:4057816) | #162 | |
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I always thought that someone had pointed out to them how CVC was leveraging their investment in F1 and they could do the same with SC. CVC for those who did not follow the story gained an income from F1 but the biggest game for them was borrowing against the asset and then selling F1 with the debt. In other words they got the money, flogged the F1 franchise so they did not have to pay it back and they got the money they sold F1 for. As others pointed out having a loss making division can be very handy at tax time especially if it was never going to have a big ROI anyway. We sold a company at a big loss and never shed a tear.
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23 Jun 2021, 04:42 (Ref:4057818) | #163 | ||
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Very Very Interesting read in speedcafe !
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23 Jun 2021, 05:47 (Ref:4057823) | #164 | ||
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Here's a link to the read you're referring to. Interesting times ahead by the sound of it.
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23 Jun 2021, 08:03 (Ref:4057834) | #165 | |
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They do talk it up....five groups vying to buy it......More likely a bit of interest has been shown and a bit of editorial name dropping done to make the article more appealing. Looking from the outside in, where they get the potential sales figures from is a mystery, the numbers don't gel at all from an ROI perspective and the uncertainty of motor sport in the future. I think someone is dreaming TTTT, supporting that is the trouble they have had unloading it in the last few years.
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23 Jun 2021, 08:36 (Ref:4057840) | #166 | |||
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Who knows ...
Quote:
A very astute business man in Garry Rogers handed back his RECs, & the likes of the owners of Tickford are very successful. Archer have had the 'for sale' sign out for some time, its prepared to take a loss, Supercars is as attractive as it can be NOW. Last edited by cavvy; 23 Jun 2021 at 08:40. Reason: theres more |
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more torque than a climate change conference |
23 Jun 2021, 11:17 (Ref:4057873) | #167 | ||
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With sale, means change...maybe, especially if 1 group grabs it and gives it a boost.
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GO Hard or GO Home |
24 Jun 2021, 02:07 (Ref:4057933) | #168 | ||
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Factory backing from Volvo, BMW, Audi & Hyundai over the years. Attracted international entries, strong backing, and Championships that went down to the final round in four of the six years he was involved. |
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24 Jun 2021, 03:14 (Ref:4057936) | #169 | ||
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Coch0 & co.
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more torque than a climate change conference |
24 Jun 2021, 03:58 (Ref:4057938) | #170 | |
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No one would put personal money into it and if they did they should seek mental health check ups as soon as possible. The level of financial backing that can be found will determine the selling price.
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24 Jun 2021, 06:01 (Ref:4057942) | #171 | |||
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a poor investment
Quote:
“Supercars has been a poor investment for Archer Capital, and we make no secret of that,” Mr Wiggs 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,” he added, referring to a drop in broadcast rights, corporate sponsorship and a difficult market for ticket sales. https://www.theaustralian.com.au/bus...5b8b1e188be8c7 Last edited by cavvy; 24 Jun 2021 at 06:02. Reason: Typo |
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more torque than a climate change conference |
24 Jun 2021, 08:17 (Ref:4057957) | #172 | |||
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You can buy an asset at the very top (or beyond) of its valuation and still make a metric shed load of dollars from it. That Archer didn’t talks to a lack of performance in a number of places, in their own management group, the Supercars executive with the revolving door of leaders and so on, and impacts of teev deals and COVID19 and any other sporting franchise in the marketplace. Someday someone will write a book… maybe Mr Cochrane should… The teams handing back their RECs.. like GRM.. you have to remember that foundation teams like them reportedly paid less than $10 grand for them. So not a huge give back. And if the teams had $10m a year to split amongst themselves, in 24 RECs that’s like $400k each… which it was said to be in the “good old days”. Are they back? I see many cars not resplendent with commercial partners, and patrons with alleged deep pockets they may not like to dip into.. money has to come from somewhere to keep the singing & dancing alive….. maybe…. |
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Happy David Thexton Day, 21st March 2003 “I am not uncertain” - Dollar Bill Stern, Billions “Fear stimulates my imagination” - Don Draper, Mad Men “Everybody Lies” - Dr Gregory House, House “Trust But Verify” - Commissioner Frank Reagan, Blue Bloods |
24 Jun 2021, 13:22 (Ref:4057987) | #173 | |
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I think Mr. GTR just agreed with me. I doubt it is saleable at just about any price but someone may hang out to the last minute to see where the bottom is and then decide. This must make the REC holders a bit nervous and some may bail out but time will tell on that one.
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25 Jun 2021, 15:13 (Ref:4058155) | #174 | |
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"Speedcafe.com has learnt of at least one more serious party in the mix, that being a well-funded American sporting consortium."
I can't help but think it's Penske... |
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26 Jun 2021, 04:54 (Ref:4058239) | #175 | |||
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He has left the building here largely because he could see the future and doesn’t think it looks good. My guess is Archer is moving into the bargain basement category.The contenders seem to be a US private equity company with Skaife as the Australian front man and the Morris/Adderton bid which I think might have Roland Dane hidden in the mix. The former might be stupid enough to bid more than it’s worth and what is Skaife doing in there?Remember he took HRT to the point of bankruptcy in the short time he ran the business.I was going to say it was the only thing he has done worse than commentary but then I had a reality check and his commentary is much worse. Roland Dane is smart enough to run it but also smart enough not to pay any more than what it’s worth so might miss out, |
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