Panthers boss admits big loss
PETERBOROUGH Panthers owner Rick Frost has revealed the club made losses in excess of �100,000 for the second successive season.The Berkshire-based businessman says investment in the club's facilities and equipment was a factor in the six-figure deficit.
PETERBOROUGH Panthers owner Rick Frost has revealed the club made losses in excess of �100,000 for the second successive season.
The Berkshire-based businessman says investment in the club's facilities and equipment was a factor in the six-figure deficit.
Frost appreciates the need to buck the current financial trend and knows the club have to entice more sponsors and supporters to the Showground in future years.
Frost told the Peterborough Evening Telegraph; "We have lost as much again as we did last year, but you have to take into account the money we have spent on new shale, improved equipment and work on our facilities.
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"They are one-off expenses that won't be repeated in the future, but they all go down as expenditure and the losses for the season to run into six figures.
"This is a huge challenge for me as I have never previously taken over or run a company that doesn't make money.
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"We need to bring in more sponsors and more spectators and the only way to do that is by making our product more attractive to the public.
"I have spent a lot of time in America and when you go to a sporting event like a baseball or basketball match over there, you are treated to a whole entertainment package.
"And that is something I feel we need to try to emulate. We are looking into providing entertainment before the actual racing and are also exploring the terms of our 10pm curfew."