A number of athletics clubs and sporting event organisers face a financial loss after the collapse of sports timing company Precision Timing.
Reports emerged last night that the company is going into liquidation and a creditors meeting has been called for next week.
Speaking to online news source The42.ie last night a spokesperson for Athletics Ireland said “Athletics Ireland has regrettably learned that Precision Timing has ceased trading.”
“Precision Timing has supplied services to Athletics Ireland for events for electronic timing systems and results. Athletics clubs, and other sports clubs, have also used Precision Timing’s services for their own individual events.”
“We have been made aware that a creditors’ meeting has been scheduled for 16 October. We will await the outcome of that meeting before commenting further.”
The company has provided online registration, payment processing and event timing solutions to race organisers since 2008 and is reported to have been involved in hundreds of events each year.
A number of clubs have yet to receive the payments which Precision Timing has accepted on their behalf and how this is to be resolved will be a key element of that creditors meeting.
The problems at the company will be a concern for many clubs who have a variety of services outsourced to third party providers but most of these provide almost instant access to any funds and full control for club officials over data held on their behalf.
The way in which services like Sport for Business member My Club Finances operates has revolutionised the way in which clubs manage renewals, fundraising and member engagement.
Sport for Business will include an update on third party online management as an additional element to our Digital Future of Sport event at Smock Alley theatre in Dublin on the morning of Wednesday, October 21st. Secure your place today by clicking on the image below…
