Any Rennlisters from New Zealand?
04-18-2015, 11:40 PM
Rennlist Member
Chris put me on the list of interested parties. I understand they would like current valuation for the property (4.5 MM approx.). Thats improvement and land value. But there is much more to this than just that. The key is a business model that will cashflow it outside of large MSNZ sanctioned event activity. Quinn can bring his own series ex Au but thats a luxury no one else has...
Pete congrats (not sure what the awards were perhaps you can elaborate). Also Chris B congrats. I think that was you 1.13.31 in the 996TT yes? My guess is Jon Warring will be all over that in the 991 GT3 this year. Cant keep down the old racers aye!
04-18-2015, 11:47 PM
Three Wheelin'
I saw quite a few nice cars taking advantage of the weather including a yellow cayman gts, a 991, and 3 porkers driving together, possibly on a run through the Waitaks. I forget who's who here but 2 of the plates were '911 TOY' and 'X 993 X'. Last time I saw 911 TOY it was on this turbo.
04-19-2015, 12:00 AM
Rennlist Member
Chris put me on the list of interested parties. I understand they would like current valuation for the property (4.5 MM approx.). Thats improvement and land value. But there is much more to this than just that. The key is a business model that will cashflow it outside of large MSNZ sanctioned event activity. Quinn can bring his own series ex Au but thats a luxury no one else has...
I believe you would need to start debt free (only finance when cash flows are proven) with maybe 20, 40 or 50 shareholders tops. You would need a constitution that avoids any takeovers and of course you need a business plan. I would champion a tourist RV park on the unused land and ticket access to the track when not used for meets as a fill in. Are enough people likely interested at say $100k each?
04-19-2015, 12:01 AM
Rennlist Member
I saw quite a few nice cars taking advantage of the weather including a yellow cayman gts, a 991, and 3 porkers driving together, possibly on a run through the Waitaks. I forget who's who here but 2 of the plates were '911 TOY' and 'X 993 X'. Last time I saw 911 TOY it was on this turbo.
04-19-2015, 12:10 AM
Rennlist Member
A few meets a year can hardly be the savior unless a significant audience turns up. The problem as I understand it is that the local club doesn't pay anything. There's a starter for 10. Albeit the provision of free labour by their members for marshaling probably outweighs that. I believe you would need to start debt free (only finance when cash flows are proven) with maybe 20, 40 or 50 shareholders tops. You would need a constitution that avoids any takeovers and of course you need a business plan. I would champion a tourist RV park on the unused land and ticket access to the track when not used for meets as a fill in. Are enough people likely interested at say $100k each?
04-19-2015, 12:58 AM
Burning Brakes
Thanks for the responses on insurance/trg. I spoke to Victoria at Prestigio and she was pretty adamant it had to be a formal 'course' not an approved instructor at a track/playday. On the plus side she indicated you didn't need to redo the training annually just get regular time at the track to keep you current every year. Wonder if downforce or Mike can lean on them a bit.
04-19-2015, 01:04 AM
Rennlist Member
That all makes sense. If you could stack a business plan to show a 5% ROI I suspect you'd find enough interest in tranches of 1-200k share blocks. I'd certainly look at it and I believe I could sell down 1-2MM through a few fellow enthusiasts. Unfortunately although I'd lend a hand in the process I have too many immediate and more pressing commitments to spearhead such a project right now and my distance is a further impediment.
Trying to get 40 equity holders to agree...(shot me now........). This would only work with a mgmt team and board in place, no debt and the abiltiy of the board to raise debt.
How do you get 40 people to agree on the maintenance plan?
Needs one 'Dictator' or won't work.........(sorry)
04-19-2015, 01:10 AM
Rennlist Member
LOL! Sasha was the guy I had in mind!
Agree with what you say. Naturally all those structures would need putting in place. Id probably favour 4-5 key shareholders or one venture capitalist partner. I've never put together a deal greater than 5MM that had more than 5 separate shareholder parties - it was a large Island - and that worked fine with the correct structures and shareholders agreements in place. It always works fine till it doesn't of course :-)
Agree with what you say. Naturally all those structures would need putting in place. Id probably favour 4-5 key shareholders or one venture capitalist partner. I've never put together a deal greater than 5MM that had more than 5 separate shareholder parties - it was a large Island - and that worked fine with the correct structures and shareholders agreements in place. It always works fine till it doesn't of course :-)
04-19-2015, 01:25 AM
Rennlist Member
LOL! Sasha was the guy I had in mind!
Agree with what you say. Naturally all those structures would need putting in place. Id probably favour 4-5 key shareholders or one venture capitalist partner. I've never put together a deal greater than 5MM that had more than 5 separate shareholder parties - it was a large Island - and that worked fine with the correct structures and shareholders agreements in place. It always works fine till it doesn't of course :-)
Agree with what you say. Naturally all those structures would need putting in place. Id probably favour 4-5 key shareholders or one venture capitalist partner. I've never put together a deal greater than 5MM that had more than 5 separate shareholder parties - it was a large Island - and that worked fine with the correct structures and shareholders agreements in place. It always works fine till it doesn't of course :-)
04-19-2015, 01:30 AM
Rennlist Member
I think the best course of action is to get Razzo to talk to Mike at Prestegio directly, he was the one that negotiated RSG inclusion and numbers of cars on the track etc.
Maybe he can get a written statement of what is acceptable for all to clearly understand, as it would apprear the goal posts might be shifting a little.
Cheers
PJ
04-19-2015, 03:20 AM
Burning Brakes
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Racing Ray and Steve R will both be doing instruction that day - based on the numbers who have indicated they would like tuition I'd say you should get a couple of 15 min sessions.
There will also be a 20-30 min on-track session at the start of the day doing laps in groups of 4-5 cars following lines behind Ray/Steve. Will start slow and gradually build so you can get a feel for the flow of the track.
Ray/Steve will run through the formats at driver briefing at the start of the day. I'll be sending an email with the timings and how the day will run in the next day or so.
There will also be a 20-30 min on-track session at the start of the day doing laps in groups of 4-5 cars following lines behind Ray/Steve. Will start slow and gradually build so you can get a feel for the flow of the track.
Ray/Steve will run through the formats at driver briefing at the start of the day. I'll be sending an email with the timings and how the day will run in the next day or so.
04-19-2015, 03:22 AM
Drifting
^^^ Rules may have changed - but this was what I agreed via my broker last year (Downforce tuition via a Play Day). I shared Stu Owers with Chris M and sent in a copy of the invoice as evidence of training.
I think the best course of action is to get Razzo to talk to Mike at Prestegio directly, he was the one that negotiated RSG inclusion and numbers of cars on the track etc.
Maybe he can get a written statement of what is acceptable for all to clearly understand, as it would apprear the goal posts might be shifting a little.
Cheers
PJ
I think the best course of action is to get Razzo to talk to Mike at Prestegio directly, he was the one that negotiated RSG inclusion and numbers of cars on the track etc.
Maybe he can get a written statement of what is acceptable for all to clearly understand, as it would apprear the goal posts might be shifting a little.
Cheers
PJ
04-19-2015, 03:32 AM
Burning Brakes
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Spent breakfast and a good part of the morning with the early 911 group. Being something of a Porsche neophyte had my first taste of a 356. What a great experience. Lovely car. So much charm and smelt like an old car should. The green dials are beautiful. Also was a great collection of long hoods and some entertaining first hand stories of the racing history of one of the cars
A couple of kids of the owner of the cafe were entranced by the cars. Particularly the girl. Both got a drive in a couple of the cars. Future pcar custodians in the making me thinks
A couple of kids of the owner of the cafe were entranced by the cars. Particularly the girl. Both got a drive in a couple of the cars. Future pcar custodians in the making me thinks