Arena-Essex sustained a heavy financial loss following a disappointing 2002 season, it has emerged.
But co-promoter Ronnie Russell is keen to offer an upbeat New Year's message.
He said: "I'm determined to bring success to this club but not by committing financial suicide.
"I've got a strict budget in place and I'm not prepared to break it."
It is believed that speedway operations at Arena cost the promoting consortium in excess of £70,000 -- a situation that Russell needed to halt immediately.
He added: "The riders' pay rates were unwieldy in some cases and that's something that has been addressed.
"But I don't want our supporters to think that the club will forfeit the opportunity to track a title-challenging side because of finances, that's just not true.
"We've signed Leigh Lanham and Kelvin Tatum who are two of the biggest names in the Premier League, plus Joonas Kylmakorpi who has only previously ridden Elite League in Britain.
"But the club is bigger than any rider and it's important that it remains profitable.
"We did have a particularly heavy outlay last year spending £20,000 plus on the air safety-fence.
"That was money well spent and if that had been our only reason for a loss-making season, then I'd have had no complaints whatever."
Published Thursday, January 2, 2003
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