96 replies to this topic

[dwh43scale]

Well I am now watching and would like to say a very big 'thankyou' to everyone at the Goodwood team, who brought this to us and had the imagination to do it.             

Seconded; a few technical issues, but they seem to be sorted now ...

[BRG]

Bugger it, despite being the one who mentioned this here, I then completely forgot about it myself!  Where's that remote.....???

[BRG]

Fortunately, the Goodwood YouTube channel now has the entire Saturday and Sunday streams in full, so you can work through them at your leisure, skipping the GRRC adverts etc.

[dwh43scale]

https://www.pistoncl...HgBf9EDH7bZRgsU

 

This week, I should have been pulling together my MM78 report for PistonClick. In the absence of live action to photograph, here's some highlights from MM72-MM77.

[Jack-the-Lad]

The Duke announced today via email that Members’ Meeting 2020 is officially extinct and has been “postponed” until April, 2021. 2020 tickets will be honored but no explicit mention of refunds was made.

[john ruston]

There is testing at Goodwood this week?

It’s a start.Lets see.

[arttidesco]

There is testing at Goodwood this week?

It’s a start.Lets see.

 

Not if a Motorsport UK sanction is required :- https://www.motorsportuk.org/restart/

[Myhinpaa]

Not quite sure what to make of this latest message https://www.goodwood...l-move-to-2021/

Sounds a bit ominous this.... Appeals for "vital" funds through the relaunched GSA https://www.goodwood.com/gsa/

[dwh43scale]

Quote from GW email - "We count on our headline events to generate all of our operating profit, and their absence has left us with millions in overheads to pay and no income since March ..."

Goodwood Estate Company Ltd - Group Net Assets 31 Dec 2018 £203 million - source - latest accounts lodged at Companies House

[Myhinpaa]

I'm sure Goodwood Estate is safe, but it's unlikely money will be spent to prop up whatever company who's responsible for the various motoring events.

 

There could be quite a complicated structure involving many sub-companies : https://beta.compani...Sc/appointments

[Doug Nye]

Let's not exaggerate - the pandemic is affecting everything but there are more ways than one of minimising otherwise unavoidable damage.  Await further news...

 

DCN

[RAP]

I'm surprised that they are not using the date for a  club meeting with entry fees and no spectators. Surely that would turn in a cash surplus? And it  would give a chance to race for people whose cars are not grand enough for the regular events.

 

 

RAP

[mariner]

Interestly from an accounting viewpoint they value the motor racing complex at £65M vs £23M for the horse racing course and it has twice the horse revenue £ 56M vs £23M.

 

Teh motor/aerodrome side also employs 400+ people vs only 56 for the  horse course.

[Jack-the-Lad]

I received the Duke of Richmond’s letter to GRRC members a few days ago. As someone who has been a member for nearly two decades and who has made Revival or Members’ Meeting my must-do events for many years, I have to say it struck me as rather alarming.

[Myhinpaa]

I had high hopes for a Members' Meeting in April next year, but sadly doubts are starting to creep in. Much of it is to do with factors Goodwood have no control over.

But not having seen the GRRC letter I can only sense the general feeling from other updates available to non-GRRC members + fellowship members.

 

Personally the Members' Meeting was the only event would attend at Goodwood from now on, attended FoS last year and seems its success have compromised

the true essence which we so enjoyed in the early years. If the MM should be sacrificed(?) due to its lower earning potential it would be very sad.

[Jack-the-Lad]

I had high hopes for a Members' Meeting in April next year, but sadly doubts are starting to creep in. Much of it is to do with factors Goodwood have no control over.
But not having seen the GRRC letter I can only sense the general feeling from other updates available to non-GRRC members + fellowship members.

Personally the Members' Meeting was the only event would attend at Goodwood from now on, attended FoS last year and seems its success have compromised
the true essence which we so enjoyed in the early years. If the MM should be sacrificed(?) due to its lower earning potential it would be very sad.

Well, since the letter made a direct plea for assistance from GRRC members, which I plan to honor, I rather doubt that the Duke would scupper the one event primarily intended for those same members. Keep in mind that while revenues from MM must be less than for the other two headline events, overhead must also be much lower.

Edited by Jack-the-Lad, 28 June 2020 - 13:38.

[Paulleek]

Well, since the letter made a direct plea for assistance from GRRC members, which I plan to honor, I rather doubt that the Duke would scupper the one event primarily intended for those same members. Keep in mind that while revenues from MM must be less than for the other two headline events, overhead must also be much lower.

 

Yes I agree...also like many people I am allowing my 2020 tickets to roll-over to '21 for all three events. I heard that the MM was more or less a sell-out this year so I wanted to make sure I don't miss it in'21. I decided to take out GSA "Paddock Club" membership too.

[Derwent Motorsport]

Goodwood events must be the profitable events in the UK as they are always a sell out, even at their ridiculous process. You would think they would have millions hidden in the kitty to tide them over.  Also surely the 400 employees cannot be all full time? They must bring in construction staff to build the "theatre" a few weeks before and a week after. They surely can't be employed for 365 days?  The actual staff that run and maintain the basic circuit will be paid from track hire etc.  

 

The Duke is not a charity, if he is stuck for money then he can sell a painting or two.  In the current situation there are thousands of cases of genuine need we can donate to!

[BRG]

I think the 400 includes all the staff who maintain the car race track, the airfield, the horse race track and the main estate.  That's a lot of grass to cut!

 

It is a bit rich for someone worth hundreds of millions to be sending out begging letters.

[Jack-the-Lad]

Well, some perks are offered with the sponsorship package so it isn’t exactly charity. I’m glad to help if it means a continuation of the events. Goodwood has provided me a wealth of experiences, friends I have made whom I would otherwise never known, wonderful travel opportunities, etc.

[Paulleek]

Goodwood events must be the profitable events in the UK as they are always a sell out, even at their ridiculous process. You would think they would have millions hidden in the kitty to tide them over.  Also surely the 400 employees cannot be all full time? They must bring in construction staff to build the "theatre" a few weeks before and a week after. They surely can't be employed for 365 days?  The actual staff that run and maintain the basic circuit will be paid from track hire etc.  

 

The Duke is not a charity, if he is stuck for money then he can sell a painting or two.  In the current situation there are thousands of cases of genuine need we can donate to!

 

You're correct to say that the Goodwood Road Racing Company activities (comprising all at the circuit plus FoS) are profitable. The accounts show that these are reinvested (as a dividend) into the overall Goodwood Estate. The Estate accounts show that it pays no further dividends out. The Profit After Tax for the entire estate is around £2.7M on Annual Revenues of circa £105M - quite meagre margins really.

 

Goodwood employs around 700 people across the estate and I'd like to see them still in employment in 2021. I also want to continue to enjoy Goodwood and the events next year...it's much the same way as I feel about my local shop and pub really.

Edited by Paulleek, 05 July 2020 - 10:26.

[Jack-the-Lad]

You're correct to say that the Goodwood Road Racing Company activities (comprising all at the circuit plus FoS) are profitable. The accounts show that these are reinvested (as a dividend) into the overall Goodwood Estate. The Estate accounts show that it pays no further dividends out. The Profit After Tax for the entire estate is around £2.7M on Annual Revenues of circa £105M - quite meagre margins really.
 
Goodwood employs around 700 people across the estate and I'd like to see them still in employment in 2021. I also want to continue to enjoy Goodwood and the events next year...it's much the same way as I feel about my local shop and pub really.

Thank you for the information and the sentiment, with which I concur. I did not realize that Goodwood’s finances are so transparent. The net margin does appear surprisingly thin, but I wonder if some expenses of the estate are included which might not be directly attributable to the events themselves, and would have been incurred in any case.

[Derwent Motorsport]

These days you can find out the financial position of any limited company with a quick Google.  Of course any business will seek to minimise the paper profit as that is what they are taxed on by investing in the business. I remember looking at the Silverstone Classic a few years back and there are a few companies involved there, not doubt the limit risk and also shuffle the money around away from HMR.  I wouldn't be surprised if Lord March does not have a number of interlinked companies that are employed by the three events. 

[Macca]

Has anyone else had an enigmatic message about an event in October?

Paul M

[Jack-the-Lad]

Has anyone else had an enigmatic message about an event in October?
Paul M

I have received nothing like that. Can you provide some details?

[BRG]

Has anyone else had an enigmatic message about an event in October?

Paul M

Have you been using the ouija board again?

[geoffd]

It's supposed to be a behind closed doors event to satisfy contractual requirements, presumably for sponsors and advertisers.  It will be streamed for the hoi polloi.

[Macca]

https://mobile.twitt...339076004352001

This is a pinned Tweet on the Revival account that I follow - that’s all I know.

Paul M

[Richard Jenkins]

It's supposed to be a behind closed doors event to satisfy contractual requirements, presumably for sponsors and advertisers. It will be streamed for the hoi polloi.

This is correct. Restricted numbers but not sure who it is open too (ie just members). I got a tipoff a while back but the exact set up is still being sorted.

[Jack-the-Lad]

https://mobile.twitt...339076004352001
This is a pinned Tweet on the Revival account that I follow - that’s all I know.
Paul M

Thank you, Paul. Cryptic, to be sure.

Well, I’m encouraged that at least something seems to be happening.

[wheadon1985]

This is going to be a behind closed doors meeting, no specators allowed. This is information given to me yesterday by the Race Director/Clerk of the Course. 

[Steve L]

But hopefully transmitted for all to watch at home?

[wheadon1985]

Indeed, it will be broadcast via the usual streams. 

[Jack-the-Lad]

This is going to be a behind closed doors meeting, no specators allowed. This is information given to me yesterday by the Race Director/Clerk of the Course.

Thank you.

Can you tell us something about the format of the weekend? Presumably it will more closely resemble MM than FOS or Revival.

[wheadon1985]

It will be a mixture of the best content of Members Meeting, Festival of Speed and Revival featuring races, demonstrations, parades, drifting, rally stage and sprint. All activities will be held on the circuit.

[Vitesse2]

Now announced on the GRRC site: https://www.goodwood...eld-in-october/

[Jack-the-Lad]

Now announced on the GRRC site: https://www.goodwood...eld-in-october/

I just received the email this morning. The signs of life are encouraging.

[BRG]

Behind closed doors.  So no point in getting my Mongolian Vice-Admiral's uniform pressed then?

[dwh43scale]

Behind closed doors.  So no point in getting my Mongolian Vice-Admiral's uniform pressed then?

 

I'm sure the Goodwood team would like to think you are sat watching proudly wearing your Mongolian Vice-Admiral's uniform ...

[Dick Dastardly]

Up to 5000 horse racing fans are allowed to attend the Qatar Goodwood Festival in 2 weeks time, on Sat Aug 1st. Hope all goes smoothly then and spectators are allowed into the Speedweek....

[Richard Jenkins]

I noticed whilst reading Autosport (but hadn't seen anywhere on social media) that the Members Meeting has been moved to May 2021, which is much warmer weather as well.

 

 

For those not aware - Member's Meeting is 15-16th May 2021, FoSpeed 8-11 July and the Revival 17-19 September.

 

Fingers crossed that the vaccines do their thing and we can enjoy some top quality historic motorsport safely again. I know there has been some, but it'll be great for everyone to blow those cobwebs away next year.

[sabrejet]

Indeed. I just hope I can find my entry badges!

[john aston]

B&B already booked. As it is for HSCC and CSCC Cadwell , in June. Making up for lost time..  

[Ralf Pickel]

I also booked accomodation again - the third one for the same MM (albeit not on the same date... ).

Same for flights. With all those other cancellations and postponements this year and already for 2021 (Vintage Revival Montlhery, Retromobile) I sometimes think I am a travel agent....

[Ralf Pickel]

MM postponed again - I am not that surprised...

New dates are October 16/17. It might not be so nice as in May !

And - again - flights and hotel booking changed accordingly. Might become my new hobby ! 

[nicanary]

It's so soon after the Revival that i wouldn't be at all surprised if the organisers combined the two events. Sort of messes with my own requirements as I'd rather have the faintest possibility of decent weather. My Revival tickets are ordered and a hotel provisionally booked.

[Jack-the-Lad]

October works better for me as the current quarantine protocol would make it impossible for me to attend in May. Cheers to the Duke for not just giving up and packing it in.