Unbelievably still going on!!!!!!!

tickin · 28 Mar 2007, 22:56 (Ref:1878781)

Almost not worth mentioning as we all know there will be no outcome except them still racing... but the HRT dramas get ANOTHER extension??????

http://www.carpoint.com.au/car-review/2457426.aspx

**GTRMagic** · 29 Mar 2007, 00:20 (Ref:1878829)

I read that in AA and wondered if they had indeed not got the story entirely right and/or ignored a timing issue or two?

The real problem for the franchise holder is that stories such as these will just bring TEGA sniffing around even more...

If the debt (alleged or otherwise) is not settled by the debt for equity swap as suggested by this article and others of a similar ilk, and the debt is still due & payable...

...and the legal entity is not in a position to settle their debt as and when it falls/fell due....

... this may constitute an act of insolvency as covered by the Teams Licence Agreement.. such that the franchise license slots may revert to TEGA on the basis of an inability (technical or otherwise) to pay their bills....

This is all only hypothetical of course.. but is easily inferred from the way the AA piece was written..

I would have thought there may have been a few press releases around to deny the rubbish and/or set the record straight.... as you cant imagine the sponsors/supporters are particularly thrilled at this turn of events (presuming its true)

Sequel · 29 Mar 2007, 00:52 (Ref:1878844)

We may end up having a three way auction for the HRT franchise, between Wills, Longhurst and Ramano!

Alan52 · 29 Mar 2007, 01:31 (Ref:1878857)

As delicious a thought as this is Holden will throw their weight around to make sure it doesn't happen.

Trev Campbell · 29 Mar 2007, 04:51 (Ref:1878890)

The part I find strange is that Walkinshaw didn't want the equity in Skaife Sport because he would then be accountable to TEGA. But what I don't understand is if Walkinshaw got the 50% in Skaife Sport he would have to be someone of stature that TEGA want to have a license, I was under the impression that TEGA didn't see him as someone fit to hold a license !!! How does all this work ?!?!?!?!

**GTRMagic** · 29 Mar 2007, 05:51 (Ref:1878902)

A potential TEGA franchise licence slot holder needs to be a 'fit and proper person' to be invited by the TEGA group to hold this licence. Counts me out

Presuming you can jump thru those hoops... the WP entity (or actually the TLA attempts to lift the 'corporate veil' and names people directly, not entities) would then be bound by all the rules and regulations in that document... allegedly...

.. some of which may be restrictive or have the potential to reduce control and/or income to that operation.

Having said that, Presumably if you only own 49% and/or have non-voting shares... then there may/may not be a requirement to go thru the TEGA probity testing....

The way the articles have been written in AA/MN, Mr Walkinshaw may not pass a TEGA probity test... although the reasons for this have never been fully explained.

Arguably the TEGAtitans could set themselves up for a court case (to add to the collection...

) if they refuse entry to a willing participant.... if the WP group could be bothered in such things.

Just Do It! · 29 Mar 2007, 09:22 (Ref:1879007)

Apparently, in AA, it also said that HRT forfeited some $200k in TEGA Appearance revenue and prize monies from....presumably only from....Clipsal.

This sounds fairly high. $200k divided by 2 L1 TLAs = $100k per car. Multiply this by 14 rounds, and the calcul-abacus says that's around $1.4 million per car.

Or do the rounds have different levels of TEGA TLA Appearance dowry attached??

In 2001, a non-front-running L2 team pulled nearly $400k in TEGA TLA Appearance and prize monies.

Can anyone shed some light??

**GTRMagic** · 29 Mar 2007, 09:41 (Ref:1879025)

The powder room suggests that AA has the number wrong

TSR · 29 Mar 2007, 10:16 (Ref:1879049)

This whole saga is starting to turn me off supertaxi's

2 things have come out off all this.

1. TEGA are gutless
2. HOLDEN can get away with anything.

I always thought that the sport ( any sport ) was bigger than one team.

dsg · 29 Mar 2007, 10:35 (Ref:1879062)

Quote:

Originally Posted by TSR

I always thought that the sport ( any sport ) was bigger than one team.

With 4 cars, the Walkinshaw team is the biggest.

Phase3 · 29 Mar 2007, 10:45 (Ref:1879071)

I must admit this is getting ridiculous, the problem is everyone knows nothing substantial will be done by TEGA, and judging by the performance of the walkingshaw cars, it will be difficult year for everyone who plays by the rules.

I never thought I'd see the day when my passion for motorsport wained, but with the Titans in the NRL this year, playing on a level playing field, I'm finding my interest in the sport deminishing.......

Rombles1 · 29 Mar 2007, 11:22 (Ref:1879090)

Quote:

Originally Posted by GTRMagic

The powder room suggests that AA has the number wrong

Sorry, I've got to be the one to bring it up, but.....

REALLY? AA GOT SOMETHING WRONG??????

STEALTHY · 29 Mar 2007, 11:23 (Ref:1879091)

Quote:

Originally Posted by Phase3

I never thought I'd see the day when my passion for motorsport wained, but with the Titans in the NRL this year, playing on a level playing field, I'm finding my interest in the sport deminishing.......

Aren't the NRL having Umpires this season? If not, then it'll be a level playing field. I stopped following AFL when the umpiring got really bad. Different code yes, but same in theory.

Micklegend · 29 Mar 2007, 12:02 (Ref:1879126)

The TEGA band aid keeps falling off this festering sore on the sport......can someone come out and explain this rubbish to the fans once and for all??

It seemed all was fine with the sport until this smoke and mirrors HRT/Toll superteam was again under the control of Uncle Tom, if it ever was not under his control I guess we will never know. I'd just hate to be anyone associated with the team at present if what they are doing could be seen to be against the spirit of the sport, again, if there is any spirit left in it.

RotorFan · 29 Mar 2007, 23:37 (Ref:1879564)

The only ridiculous part of this is that people see fit to make it their business.

MRJUCY · 30 Mar 2007, 03:25 (Ref:1879628)

Quote:

Originally Posted by STEALTHY

Aren't the NRL having Umpires this season? If not, then it'll be a level playing field. I stopped following AFL when the umpiring got really bad. Different code yes, but same in theory.

No umpires in Rugby League only referees.

Phase3 · 30 Mar 2007, 05:55 (Ref:1879659)

Quote:

Originally Posted by RotorFan

The only ridiculous part of this is that people see fit to make it their business.

That statement would shut down the worlds newspapers, websites, tv & radio bulletins, magazines, etc..... I tend to agree with you to a point, but how many people realisticly stick to their own buisness?

lowdown · 30 Mar 2007, 05:58 (Ref:1879660)

Quote:

Originally Posted by RotorFan

The only ridiculous part of this is that people see fit to make it their business.

People make it their business because they are passionate about their sport and if the team they support is to be beaten they want it to be done by another team that is playing by the rules. Tommy and HRT are not one of those teams.

Silver GT · 30 Mar 2007, 06:40 (Ref:1879668)

Quote:

Originally Posted by RotorFan

The only ridiculous part of this is that people see fit to make it their business.

Without the supports and Fans (thats us) there is no business.

I cant believe this is till going......

This sport is going to the Dogs.....they should fine themselves for bringing the sport into disrepute

STEALTHY · 30 Mar 2007, 06:49 (Ref:1879669)

Quote:

Originally Posted by lowdown

People make it their business because they are passionate about their sport and if the team they support is to be beaten they want it to be done by another team that is playing by the rules. Tommy and HRT are not one of those teams.

Would you like to post a link to the TLa, and highlight the rules that have been broken?

zac510 · 30 Mar 2007, 09:44 (Ref:1879746)

I think the interesting thing is that Ford are yet to exploit this loophole. Once again they're napping..

Bigem · 31 Mar 2007, 13:08 (Ref:1880430)

Why shouldnt this be our business, most of us have vested interest in V8s, therefore we are in fact stakeholders, and deserve to know what is going on, and subsequently should be able to comment on the nissues that detract from the show!

Skaifeys head is on TWs chopping block! Out of the Holden supporters on here, if it comes to the crunch, who would you vote for TW, or Skaifey? You may have to make a choice. Old Toms not about to sign any "Deed of Release" because thats what caught him out last time with Arrows!

Mark Skaife owns nothing at HRT, never has, Holden leases the HRT brand to him, all merchandise returns go to Holden, TWPG owns the cars and equipment, Skaifey really only acts as an employer of some of the people who work in the raceteam and figurehead(some may say scape-goat).

verybody else works for either TWPG or Holden so the story goes, so how does HRT/SkaifeSport stay solvent when there is no apparent means to pay their bills? HRT owes TWPG money, TW wants it! Skaifey is in trouble!!

Game over!!

STEALTHY · 31 Mar 2007, 13:54 (Ref:1880454)

Quote:

Originally Posted by Bigem

Why shouldnt this be our business, most of us have vested interest in V8s, therefore we are in fact stakeholders, and deserve to know what is going on, and subsequently should be able to comment on the nissues that detract from the show!

Skaifeys head is on TWs chopping block! Out of the Holden supporters on here, if it comes to the crunch, who would you vote for TW, or Skaifey? You may have to make a choice. Old Toms not about to sign any "Deed of Release" because thats what caught him out last time with Arrows!

Mark Skaife owns nothing at HRT, never has, Holden leases the HRT brand to him, all merchandise returns go to Holden, TWPG owns the cars and equipment, Skaifey really only acts as an employer of some of the people who work in the raceteam and figurehead(some may say scape-goat).

verybody else works for either TWPG or Holden so the story goes, so how does HRT/SkaifeSport stay solvent when there is no apparent means to pay their bills? HRT owes TWPG money, TW wants it! Skaifey is in trouble!!

Game over!!

Do you work for tom? or is that just a very imaginative guess......

pete55 · 31 Mar 2007, 20:45 (Ref:1880674)

Quote:

Originally Posted by STEALTHY

Do you work for tom? or is that just a very imaginative guess......

I wouldn't seem that far away from the truth seeing the sort of trouble Skaife is in.

xr8 · 1 Apr 2007, 04:03 (Ref:1880871)

Skaife, Holden & Walkinshaw have been telling real porkies now for a few years and have been caught out. They are all lacking severly in credibility so how do you think that the average fan is going to trust them in the future let alone there fellow competitors and Tega?If Tega do not take drastic action very soon they will be labelled a laughing stock or have they already!