APBA memberships
03-02-2003, 06:49 PM
#22
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I heard that there was a "hostile takeover" of APBA Offshore by SBI & Reggie. The source indicated that they were working through/with APBA headquarters. This information is over a week old and judging from the letter MA posted on the APBA Offshore site at least a battle is over. Let's hope the upcoming season doesn't suffer....
03-02-2003, 10:51 PM
#24
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LMAO !!!
No offense tachyon, but I gotta agree with 53.
Reggie can't afford, (is not allowed) to spend anymore money in boat racing, so I'm thinking that's a pretty far out there rumor.
Reggie can't afford, (is not allowed) to spend anymore money in boat racing, so I'm thinking that's a pretty far out there rumor.
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03-02-2003, 11:27 PM
#25
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I wouldn't call it a rumor as it was from a reliable insider. The enterprise value of the Offshore LLC may be lower than you think. The LLC is comprised of multiple partners who may have incongruous investment goals and private equity has rare opportunities for liquidity. In europe, the premier franchise, UIM Class 1 recently sold for $1. Things that don't make (or loose) money aren't that valuable. Aside, I was careful to word what I said as SBI & "Reggie" and not "Fountain". I agree Fountain is probably not in a position to be venturing into things outside their "core" business presently. Additionally, at least one other group/entitiy was determining investor interest.
Believe non of what you hear and half of what you see. The above is half of what I personally saw.
Hopefully, the business people will take care of business and the rest of us can watch, race and in both cases enjoy.
Believe non of what you hear and half of what you see. The above is half of what I personally saw.
Hopefully, the business people will take care of business and the rest of us can watch, race and in both cases enjoy.
03-03-2003, 12:10 AM
#26
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Tachyon,
There are, at a minimum, "two insides" in the immediate case. I am presuming you've heard from one of those on the llc side. I would further presume that the insiders to whom I've spoken, have a 180 degree opposing view to what you've heard. Should the llc disappear (an occurence I would be pleased to see) the category would most likely be restored to the membership as it was prior to the llc. In such a scenario it would be governed by a Commission made up of race sites, equipment owners and other stakeholders. The leader would be an elected Chairman serving with minimal compensation. The professional staff would be compensated.
I'm not certain who you are, but, at least on a good day I know who I am and I served as Senior VP of APBA from 93-96 and President from 96 thru 98. As such, I had a fairly good view of the inside. By the way, I found it a much prettier view than what the llc has allowed it to devolve into.
That said, the core strength of Offshore has been the racing members. While I may be off keel here, I believe the racers just want to race, have fun, recoup what they can of their expenses and return to race again another weekend.
If you find I am factually wrong with any of this, please advise.
While we're here, a letter from the llc to APBA making certain representations does not by it's mere existence create fact......
There are, at a minimum, "two insides" in the immediate case. I am presuming you've heard from one of those on the llc side. I would further presume that the insiders to whom I've spoken, have a 180 degree opposing view to what you've heard. Should the llc disappear (an occurence I would be pleased to see) the category would most likely be restored to the membership as it was prior to the llc. In such a scenario it would be governed by a Commission made up of race sites, equipment owners and other stakeholders. The leader would be an elected Chairman serving with minimal compensation. The professional staff would be compensated.
I'm not certain who you are, but, at least on a good day I know who I am and I served as Senior VP of APBA from 93-96 and President from 96 thru 98. As such, I had a fairly good view of the inside. By the way, I found it a much prettier view than what the llc has allowed it to devolve into.
That said, the core strength of Offshore has been the racing members. While I may be off keel here, I believe the racers just want to race, have fun, recoup what they can of their expenses and return to race again another weekend.
If you find I am factually wrong with any of this, please advise.
While we're here, a letter from the llc to APBA making certain representations does not by it's mere existence create fact......
03-03-2003, 08:12 AM
#27
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Steve,
With all due respect, I feel you're vision for offshore, a 'commission' as you put it, is a little askew. There would be far too many players, too many conflicts of interest there...Look what happened to RSVP....You think the power struggles are bad now, it would only get worse.
Today's format far surpasses and eliminates many of those problems.
A centralized organiziation, which owns the race sites and is built upon solid relationships with the localities works much better than a non-unified group of multiple entities.
What you do instead? I'd like to hear more about this, as I hope I'm not misunderstanding you?...
The only problem Mother APBA has with Offshore is that Offshore won't willingly allow itself to be fee'd and nickel-and-dimed to death; You can only milk a cash cow so long before you get kicked. [not to mention a certain few members on the APBA board who clearly have monetary conflicts of interest]
As for a hostile takeover...LMAO!
Good luck on that one...
With all due respect, I feel you're vision for offshore, a 'commission' as you put it, is a little askew. There would be far too many players, too many conflicts of interest there...Look what happened to RSVP....You think the power struggles are bad now, it would only get worse.
Today's format far surpasses and eliminates many of those problems.
A centralized organiziation, which owns the race sites and is built upon solid relationships with the localities works much better than a non-unified group of multiple entities.
What you do instead? I'd like to hear more about this, as I hope I'm not misunderstanding you?...
The only problem Mother APBA has with Offshore is that Offshore won't willingly allow itself to be fee'd and nickel-and-dimed to death; You can only milk a cash cow so long before you get kicked. [not to mention a certain few members on the APBA board who clearly have monetary conflicts of interest]
As for a hostile takeover...LMAO!
Good luck on that one...
Last edited by Baja Daze; 03-03-2003 at 09:13 AM.
03-03-2003, 09:10 AM
#28
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Thanks Mike A,
I heard these rumor's several weeks ago and new it would make it to the board soon. What I have wondered for the last couple of years, with all of it's players in place, Martin, Lynn, Mike Tomlinson and many others, is why does the LLC. need the APBA, it looks to me the APBA needs the LLC., With a bussiness plan that seems to be working, enforcement of the rules and pay outs being paid out, a constent growth in sponsors it looks to me that everything is working acording to plan as stated several years ago with the formation of the LLC.
I'm not trying to take sides the 2 organizations seem to have their place, but how could a 3rd organization or an organization run by a manufacture make the sport any better.
just my .02
Edddie Simmons
I heard these rumor's several weeks ago and new it would make it to the board soon. What I have wondered for the last couple of years, with all of it's players in place, Martin, Lynn, Mike Tomlinson and many others, is why does the LLC. need the APBA, it looks to me the APBA needs the LLC., With a bussiness plan that seems to be working, enforcement of the rules and pay outs being paid out, a constent growth in sponsors it looks to me that everything is working acording to plan as stated several years ago with the formation of the LLC.
I'm not trying to take sides the 2 organizations seem to have their place, but how could a 3rd organization or an organization run by a manufacture make the sport any better.
just my .02
Edddie Simmons
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Mario Andretti
"If Things Seem Under Control, You're Not Going Fast Enough"
Mario Andretti
03-03-2003, 10:02 AM
#29
Charter Member #94
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Eddie,
Your questions and observations are right on. I just hope the old blood in APBA starts looking to the future, instead of desperatly trying to keep things status quoe, right up untill the end of APBA.
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Abby-someone
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crickets?
