Skip Barber Racing School Chapter 11 | FerrariChat

Skip Barber Racing School Chapter 11

Discussion in 'Tracking & Driver Education' started by the_stig, May 22, 2017.

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  1. the_stig

    the_stig F1 Rookie

    Sep 19, 2005
    3,477
  2. ryalex

    ryalex Two Time F1 World Champ
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    Aug 6, 2003
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    Ryan Alexander
    That's too bad, hopefully they can propose a confirmable plan. Otherwise Barber's Lime Rock might end up getting a chunk or control of it again.

    The IP value is probably a little optimistic for BK court purposes.
     
  3. the_stig

    the_stig F1 Rookie

    Sep 19, 2005
    3,477
    I'd tend to think the value of the cars and parts might be overstated also - be a royal pain if it goes to auction.
    Other than Lime Rock I'm surprised at how high the debts are with some of the other tracks. Would have expected lower thresholds before they were cut off.
     
  4. ryalex

    ryalex Two Time F1 World Champ
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    Aug 6, 2003
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    Ryan Alexander
    Yes, but then again with a corporate customer that is decades old I understand that they probably did not expect the AR to get so old and then a BK.
     
  5. henryr

    henryr Two Time F1 World Champ
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    Nov 10, 2003
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    Juan Sánchez Villa-L
    who lets the receivables run up that much ?

    the only real bidder for the name is likely skippy himself...
     
  6. the_stig

    the_stig F1 Rookie

    Sep 19, 2005
    3,477
    He's supposedly been asked in the past if he was interested in having it back and said "no".

    Disclaimer: I know Skip but have never asked him about this subject!
     
  7. henryr

    henryr Two Time F1 World Champ
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    Juan Sánchez Villa-L
    i read that also but if you could buy back the name for next to nothing to remove it from circulation .....

    i doubt he has any interest in running a school again...
     
  8. GuyIncognito

    GuyIncognito Nine Time F1 World Champ
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    Jun 30, 2007
    91,699
    the way to keep a track profitable is to keep it "hot" (booked).

    so I totally understand why tracks kept renting out to Skippy, even if they knew Skippy had a bad habit of, ermmm...."skipping" (;)) out on bills.

    better to book the track and have a chance at a receivable than leave it empty...
     
  9. ryalex

    ryalex Two Time F1 World Champ
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    Aug 6, 2003
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    Ryan Alexander
    Kind of like radiology facilities in that way. They keep people moving through the MRI and build up huge amounts of AR.
     
  10. boxerman

    boxerman F1 World Champ
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    May 27, 2004
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    Sean
    10 to 50 million in liabilities us a very vague figure. Not a whole lot of assets.

    How do other racing schools survive or prosper?

    Pity I went to two of their racing schools, learned a lot, it was good program..
     
  11. ryalex

    ryalex Two Time F1 World Champ
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    Aug 6, 2003
    24,957
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    Ryan Alexander
    That's just a check box on the initial petition pages. The total debts are on Schedules D, E and F. Although some can be marked "Unknown" if the current balance is missing. The creditors will file their claims in the case to be paid.
     
  12. Smiles

    Smiles F1 World Champ
    Lifetime Rossa Owner

    Nov 20, 2003
    16,601
    Pittsburgh, PA
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    Matt F
    I agree.

    If the biggest creditor is Lime Rock at $1.225 million, then Pareto would predict it's far less than $10 million. If $29,600 to Willow Springs is worth mentioning, it's probably a whole lot less.

    And $2 million for the Skip Barber name is ridiculous. It may even have negative value now.

    Sad, though. I did the 3 day racing school (when they were Neon engines) for my own bachelor party, and the 2 day advanced school when my son was born.

    Matt
     
  13. It's Ross

    It's Ross Formula 3

    Jul 30, 2007
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    The fellows who taught me there were all great, I hope they land on their feet.
     
  14. boxerman

    boxerman F1 World Champ
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    May 27, 2004
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    Sean
    I did the 3 and two day as well. Personally i think the something like the 3 day should be mandatory for people wanting to move up the ladder at DE events.
     
  15. JWeiss

    JWeiss F1 Veteran
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    Absolutely. Best of luck to all of them.
     
  16. the_stig

    the_stig F1 Rookie

    Sep 19, 2005
    3,477
    Many of the best people left over the last few years and have landed at places like the Lucas Oil school while others left the business completely. The writing had been on the wall for a long time.
     
  17. singletrack

    singletrack F1 Veteran

    Mar 16, 2011
    5,767
    Pittsburgh, PA
    I'm honestly surprised it has taken this long.

    I understand the school never made much money even when run properly. The way they were even able to stay profitable (barely) was with the large corporate sponsors - Saab, Dodge, Mazda, Bridgestone, etc.

    Then Culver started running it and destroyed it. They owe a lot of money to instructors in addition to the tracks.

    The RT and MX5 cars are worthless IMO - they are in horrible shape. I'm not sure if they own the road cars which would have some value - Mustangs, Porsches, etc.

    Most of the Lucas instructors are ex-Skippy instructors. Except now you have newer cars, the same teaching methods, plus advanced video and data. Hopefully Lucas grows (which is the plan) and that results in more jobs for the industry. The cars are much better as well. I'll always have a place in my heart for the RT's, but the Lucas cars are proper FF cars from a winning chassis which is well balanced.
     
  18. Casino Square

    Casino Square Formula 3
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    Excuse my ignorance, but where is Lucas located? thanks
     
  19. Doc V.

    Doc V. Karting

    Aug 29, 2012
    77
    Palm Beach Gardens, Florida
     
  20. singletrack

    singletrack F1 Veteran

    Mar 16, 2011
    5,767
    Pittsburgh, PA
    They run schools, and their race series, all over the east coast. I believe their next school is at Limerock.
     
  21. Texas Forever

    Texas Forever Seven Time F1 World Champ
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    Apr 28, 2003
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    Texas!
    Does Lucas just do open wheel?
     
  22. singletrack

    singletrack F1 Veteran

    Mar 16, 2011
    5,767
    Pittsburgh, PA
    Yes.

    It's a Rays GR11 chassis which is a Formula Ford winning chassis which is modified to FIA F3 size to accommodate a wide range of people.
     
  23. Texas Forever

    Texas Forever Seven Time F1 World Champ
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    Texas!
    Thanks. That's what I was afraid of.
     
  24. singletrack

    singletrack F1 Veteran

    Mar 16, 2011
    5,767
    Pittsburgh, PA
    Copy that.

    For tin tops, I would look at Bondurant in Phoenix. Mid Ohio school. Others might have more recommendations. Skippy is still running schools currently also, but obviously a precarious situation.

    The driver that won their series, and the 200k scholarship for racing, just came out publicly and stated that he never received the money.

    He's racing in F4 this year and it will definitely be a struggle for him without the money he earned and was promised.
     
  25. ktr6

    ktr6 Formula Junior

    Mar 25, 2011
    947
    Knoxville, TN
    Full Name:
    Keith
    Hate to see them in trouble. I am a Skippy grad and got my SCCA lisc afterward. Great school with excellent instructors.
     

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