CanadianRacingOnline.com
Canadian Oval / Road Racing => Canadian Tracks => Capital City => Topic started by: ottguy on September 29, 2010, 08:07:50 PM
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I don't know anything about operating a speedway....but man $100,00 sounds pretty
expensive.
http://www.capitalcityspeedway.ca/ (http://www.capitalcityspeedway.ca/)
Are Drummonds planning to operate the place next season if nobody with a hundred
grand can be found ?
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I bet the insurance policy for the facility to run a full season is in excess of $50 grand / yr. and ya haven't even opened the gates...Hydro, property taxes, and other materials are required. And *then* you have to put a program together that makes sense to keep operating.
And then there's the weather, which if memory serves has not been kind to the Ottawa area for the last several years, especially for big event weekends which have had to be rescheduled or cancelled on occasion. Add a small insult of the current downturn in the economy, I bet it's tough to keep it going.
Sure hope someone can find the money to help out. It would be tough to shell out 100K and have 'limited' opportunities on return when you can get a guarantee of about 4.5 to 6.5% on 6 month investment grade Bonds currently on the market. Even Trust shares such as Bell Aliant are paying dividends every month of .20 to .25 cents / share ($25.90 - $26.10) which is roughly 10 to 10.5% return / month.
Sure is a sign of concern to keep on top of.... for racers in the Ottawa area. :(