New Race Association - Take a LOOK SEE

[Willis]

October 26, 2007
found this tread on DRAG BOAT ALLEYY
http://dragboatalley.com/ubb/ultimatebb.php?/topic/2/335.html
Whats your take??

[cyclone]

interesting. i wonder if it'll work. bigger payouts to the racers would be great.

[flat broke]

I don't personally know any of the players or history, so don't take this as an attack etc. The first thing that jumpped out at me was the thought of investing $$$ into a "plan" with no solid evidence of the media contracts that are a cornerstone to the revenue structure. He shouldn't really need the $$ to get the contracts. If the media outlets he wishes to bring in have a demographic they can sell ad space to that would mesh with the program, they'll pick you up. Basically, without the media aspect of his program, there is no potential for a return on your investment. I've worked for a couple of pre-IPO companies and have had solid exposure to the BD side of the game. Simply put, his program isn't where it needs to be in order for individuals to consider risking share purchases from a financial standpoint. If you want to fund it for the love of racing, that's a different story. However, if you have that kind of disposable income, why not work directly with your local sanctioning body to pursue similar goals.
I'm looking at this from a strictly business perspective, so take that with a grain of salt. IMHO, he should be seeking formal venture capital first if he needs $$ to get the media contracts, then solicit the public/race community with share options if additional/continual funding is needed until the revenue streams are at least keeping the organization in the black. If the VC can get the ball rolling and lay a working foundation for his program, it then becomes much more sensible for individual investors to consider share purchases as a financialy viable risk. At best I think people might stand to break even on this deal. But as folks always say, no one should get into racing to make $$.
Would it be cool, yeah. Is it probable that it would turn out how it's being presented, no.
Not trying to be a wet blanket, but from the $$$ side of things, it's pretty cut and dry. And that's saying nothing of all the issues of homogenizing all the rules of the different currently existing orgs to bring them under a single rule sheet so that you could have a national championship. Look how long it took to change the sandbagging rule within the NJBA, now multiply all those difficulties accross the various regions of a national sanctioning body, and add in the different preferences and trends for folks in different regions.
Chris

[Rondane]

Simply put, his program isn't where it needs to be in order for individuals to consider risking share purchases from a financial standpoint. If you want to fund it for the love of racing, that's a different story. However, if you have that kind of disposable income, why not work directly with your local sanctioning body to pursue similar goals.
Would it be cool, yeah. Is it probable that it would turn out how it's being presented, no.
Chris
it's easy for you to be skeptacle living in CA with NJBA too look forward too but but living on the other side there isnt much, if any, at all unless you want to travel. The guy used to be president for SDBA so he's no first timer and i give him a thumbs up for trying. Looks like a breath of fresh air. Besides, his "program" is still in infancy so it's going to have alot of details that need to be worked out. What ever works out as it's presented anyways? Hope for the best and give it time son.
rondane

[bp]

I don't personally know any of the players or history, so don't take this as an attack etc. as ronjane mentioned, mr. white is past pres of sdba, and has been heavily involved in that club's direction for many years. this doesn't seem to be an effort to organize new races, but advertise/promote existing one's under a new sanctioning body?
Not trying to be a wet blanket, but from the $$$ side of things, it's pretty cut and dry. And that's saying nothing of all the issues of homogenizing all the rules of the different currently existing orgs to bring them under a single rule sheet so that you could have a national championship. Look how long it took to change the sandbagging rule within the NJBA, now multiply all those difficulties accross the various regions of a national sanctioning body,
rules are basically the same for cdba, sdba, sldba, and yes ihba. programs have been changed over the years, where some of these associations were living next door to extinction. most all are flourishing now, doing quite well. njba's boat/safety rules are basically the same; however, their programs are radically different from everyone elses. no opinions here, just facts from someone that's raced with 4 of the 5.
and add in the different preferences and trends for folks in different regions.
Chris
i wouldn't disagree. mr. white demonstrated success with the regional telecast of one of sdba's races. don't know how well they would do nationally.
the one opinion i'll offer is that, i believe what sustains racing is competition, whether it's dragboats, nascar, or nhra. if a competitive environment is developed and nourished, racing grows and flourishes. if not, interest wanes. close racing can sell, even with lawnmowers.

[pce680]

Maybe they should let NJBA Know that they want them to be DIV 3 before they sell stock for $1000.00 a share.

[bp]

Maybe they should let NJBA Know that they want them to be DIV 3 before they sell stock for $1000.00 a share.
i dunno, maybe it's easier to sell stock on a nonprofit org if you don't tell 'em? i don't know about that hi finance shiat... :)

[Willis]

i dunno, maybe it's easier to sell stock on a nonprofit org if you don't tell 'em? i don't know about that hi finance shiat... :)
bp,
That's the problem I'm having with the post "John White" said on Drag Boat Alley. He said he was working with the NJBA and to this date none of the officals have talked about this but me trying to get info on the deal.
He has not gotten back to me yet about who at the NJBA he has contacted.
Wiliis

[bp]

willis, he posts on duane sim's site as "juan blanco", and i guess on dragboat alley. all i know is he's been sdba for a very long time, drove one of dennis gibson's tfh's for a couple years blowing up more stuff than even you have (thats alotta stuff!):D
this whole thing seems like something out of the twilight zone... people that wanted to crucify someone else for this, now actively pursuing the same thing... very odd.

[pce680]

This would be GREAT for the NJBA.Have to convince the lifetime board members.:argue:

[bp]

i guess your work's cut out for ya then. go getum ron:D