Editorial - Money, Money, Money

Readers can hardly have failed to notice that something called the 'Credit Crunch' is currently afflicting World finance. Pausing only to observe that consumer protection does not seem to apply in ‘high’ finance, sell a car with a gearbox quietened with sawdust and a rewound odometer and you will find yourself prosecuted; do something similar with toxic securities and you can step away from the carnage and retire with a multi-million pound payoff, even when your bank used a business plan that had all the financial integrity of a pyramid selling scam. However, we are here to discuss possible effects of the 'Credit Crunch' on club motor sport.

To give them their due MSA seems to have noticed that something momentous has happened outside their enclosed walls and in the Autumn edition of 'Motorsports Now' Colin Hilton assured us that MSA’s 2007 figures were unaffected, the 2008 figures were on track and that 2009 was unknown territory. While it is undoubtedly good news that the MSA's finances are in good shape and that it can invest in various initiatives, there was little or nothing else on offer to the club competitor in the Autumn edition of ‘Motorsport Now’.

Perhaps they thought that they had already done their bit because the final article in the Summer edition of 'Motorsport Now' was Stuart Turner's Top Ten Tips on Cost Cutting. I always have a certain sympathy for anybody attempting to come up with the contents for this sort of item, they are usually struggling to say anything significant before they are half way through their list and lets face it, cost cutting and motor-sport make strange bedfellows. To alleviate the general financial gloom I can no longer resist the temptation to have a little fun at the expense of Mr Turner's list because he is certainly struggling by item 3.

Item one was to create a cash flow spreadsheet. It so happens that I have spreadsheet for past seasons but these are constructed as the season progresses. I have always lacked the courage required to create one for the coming season. One problem is the front loading of the spreadsheet with fixed costs: medical, licence, club membership, new tyres, rebuilt and replaced components, all of which must be paid before the car turns a wheel. When these costs are viewed from the other end of the season they (hopefully) have been shared between many races and can seem fairly small when viewed as a cost per race but having them at the front of the spreadsheet does concentrate the mind. My recommendation is that if you insist on creating a spreadsheet, keep it well hidden from the wife unless the lady is as tolerant as someone I used to race against in sailing dinghies. He christened his 5o5 'Melba's Mink', His wife was called Melba and his dinghy represented the money that could have purchased her fur coat!
Item two suggests that the competitor drops to a cheaper category of racing, This is obviously irrelevant to anybody racing Monoposto because we must run one of the cheapest series in the country, (that race on quality circuits nationally). My entry fees averaged £10 less per race in 2008 compared with the previous year, so racing with the MRC became cheaper in 2008. The other suggestion in item 2 was that a driver become a co-driver. Obviously this only applies to rally drivers, even so, if this suggestion was to be taken seriously the number of entries in rallies would decrease, hardly something that can be recommended in the MSA’s house magazine.

Item three starts by suggesting that we should budget more carefully in 2009 than in previous years. Probably an irrelevant suggestion for most Monoposto members. It then goes on to suggest that we double our contingency fund. It hardly seems worth pointing out that doubling something represents increasing its cost by 100%, hardly within the spirit of a cost cutting article, Additionally, if the majority of our membership are like me they require the purpose of a contingency fund explaining to them. We work on the principle that we can either afford the repair or will not be able to race until we have saved sufficient funds.

The meaning behind four is that we order items in good time and so avoid high delivery charges. I must say that high delivery charges do not figure large in my cost spreadsheet!

I believe that Monoposto competitors are already rather good at number five which requires the membership to band together in an attempt to reduce costs. Stuart Turner mentions tyres, there is certainly a thriving trade in pre-owned tyres in the Mono1600s and 1800s. We are doing our best to counteract the sport's 'lunatic use of tyres’ mentioned by Mr Turner, by rarely buying new and only disposing of tyres when the cords show through.

Mr Turner's number six also suggests that competitors reduce costs by banding together, With the introduction of LED rain-lights for the 2009 season there would appear to be a case for such co-operation, if any of the racing equipment emporia are willing to offer a quality product at a discount. Co-operation between the membership is a pleasing feature of Monoposto Club membership. Peter Bragg, Ewan Sergison and the irreplaceable Dermot Healy merit an honourable mention in this context.

We can now press on to item seven which requires competitors to work harder to obtain sponsorship. Planting stories in the local newspapers is seen as a possible route to persuading local firms to come up with sponsorship. Make a well known phrase out of: land, cloud and cuckoo. Judging by the number of our competitors entered by 'driver' we don't seem to be too successful at persuading sponsors to part with money in times of plenty, one can anticipate this task becoming appreciably more difficult in 2009.

Mr Turner's eighth suggestion seems completely out of touch with costs as we know them; he suggests that we hire rather than purchase. As most of us appreciate, arrive and drive is significantly more expensive than doing all the work oneself. Hiring does have its uses but the established Monoposto competitor has evaluated the situation and decided to own and run their own car.

By the time we reach number nine Mr Turner is really struggling as this paragraph is restricted to advice for marshals.

When given some thought, item ten is the most curious of Mr Turner's points; he extols competitors to 'not cut back on safety items'. Minimal reflection should remind us that: helmets, suits, belts, red lights etc, are items checked at scrutineering. I hope that Mr Turner is not suggesting that the cheaper FIA or SNELL approved items have unacceptable performance because that would suggest that the standards of SNELL and the FIA are not sufficiently high. However, the discussion about LED red lights that has recently occurred on the Forum would appear to indicate that all MSA certified LED rain-lights are not of equal intensity. If this is the case, the dimmer versions may not shine through the sort of spray that we experienced at Cadwell this year. On the other hand if a very bright rain-light is used in unsuitable conditions it may blind the driver behind. Many problems have no simple solution..........

So back to the ‘Credit Crunch’, it naturally causes the directors concern. Opinions differ as to it effect, those dependant on the return on investments may well be considering their options for 2009 and withdrawing from participation is an obvious way of saving money. But alternatively, those participating in more expensive formulae could be looking for a cheaper series, possibly a series that does not require sponsorship for successful participation. Both situations will probably occur during 2009 and, as always, there will be some loss and some recruitment, naturally, for the prosperity of the club we hope that the latter predominate.

Much to my surprise, my post season spreadsheet indicates that despite higher fuel prices my average cost per race was £50 less in 2008 than in 2007. This can only mean that the Monoposto Racing Club is playing its part in providing cost effective club motor-sport which we hope will continue to prove attractive in 2009.

On that thought, it is time to wish the membership a ‘Happy Xmas’ and a successful New Year.

It's really hard finding some relevant pictures for editorials. So we haven't tried and instead just used irrelvant ones and crowbared them in with tortuous captions..

Money, Money, Money, sang the popular Swedish beat combo of the 1970's. Their occasional drummer Slim Borgudd later found fame as an ATS & Tyrrell Grand Prix driver, having won the 1973 Swedish Formula Ford Championship

Stuart Turner gave good advice - if you're a funded professional driver.

This is an early 20th Century Stuart Turner engine used in small boats. Nice. No relation, but isn't Googling great? (tradboatrally.com)

Roxanne, You don't have to put on the red light (Unless of course the race is wet and you are required to do so by an MSA official.)