Jim 'smooth' Brewer
July 20th, 2009, 11:12 PM
Hey everyone...
The board summarized all of the ideas that we've heard for helping the clubs finances and discussed them tonight during a phone conference.
First and foremost, we have implemented a new payout structure for Race of the Rockies for the remainder of the season (and beyond??).
Because ROR is primarily funded and subsidized by the racers who DO NOT compete in the class, the payout structure must be somehow correlated to the TOTAL EVENT race entries. If we have poor turnouts, then the purse must be reduced so we don't go further and further into the red. The new payout structure is as follows:
If TOTAL paid entries for the race weekend are 140 or Greater, Race of the Rockies receives FULL Payout as per usual.
If TOTAL paid entries for the race weekend are between 120 & 139, Race of the Rockies receives HALF Payout (all 15 positions receive 50% of normal purse).
If TOTAL paid entries for the race weekend are FEWER than 120, then all Race of the Rockies competitors will receive a refund of their ROR surcharge. There can be no purse with such a small turnout.
The normal purse for ROR (both classes) is almost $6000 per weekend. If it costs a minimum of $20,000 to run a race weekend, and we have fewer than 140 entries, we simply don't have the money to pay out the Full ROR purse.
Additionally, the Board of Directors has taken a 50% reduction in compensation for the remainder of the season, which will save the club some money as well.
The following chart is a brief summary of everything we've heard from member suggestions, the PR committee, etc... and where we are with these ideas. Included is a guess on what year this idea will have an impact, the current status, and the source of the idea (most came from the forum notes with these titles). There's lots of good work going on (some not mentioned here) so a heartfelt thanks to all that have stepped up.
Rather than make another huge rambling notestring, if you want to discuss any of these ideas or ask for clarification, please start a new topic.
http://users.frii.com/jjb/MRA_board/financial_ideas.jpg
The board summarized all of the ideas that we've heard for helping the clubs finances and discussed them tonight during a phone conference.
First and foremost, we have implemented a new payout structure for Race of the Rockies for the remainder of the season (and beyond??).
Because ROR is primarily funded and subsidized by the racers who DO NOT compete in the class, the payout structure must be somehow correlated to the TOTAL EVENT race entries. If we have poor turnouts, then the purse must be reduced so we don't go further and further into the red. The new payout structure is as follows:
If TOTAL paid entries for the race weekend are 140 or Greater, Race of the Rockies receives FULL Payout as per usual.
If TOTAL paid entries for the race weekend are between 120 & 139, Race of the Rockies receives HALF Payout (all 15 positions receive 50% of normal purse).
If TOTAL paid entries for the race weekend are FEWER than 120, then all Race of the Rockies competitors will receive a refund of their ROR surcharge. There can be no purse with such a small turnout.
The normal purse for ROR (both classes) is almost $6000 per weekend. If it costs a minimum of $20,000 to run a race weekend, and we have fewer than 140 entries, we simply don't have the money to pay out the Full ROR purse.
Additionally, the Board of Directors has taken a 50% reduction in compensation for the remainder of the season, which will save the club some money as well.
The following chart is a brief summary of everything we've heard from member suggestions, the PR committee, etc... and where we are with these ideas. Included is a guess on what year this idea will have an impact, the current status, and the source of the idea (most came from the forum notes with these titles). There's lots of good work going on (some not mentioned here) so a heartfelt thanks to all that have stepped up.
Rather than make another huge rambling notestring, if you want to discuss any of these ideas or ask for clarification, please start a new topic.
http://users.frii.com/jjb/MRA_board/financial_ideas.jpg