The trouble for Freddie Spencer’s riding school is even worse than failing to refund a student’s $1200 deposit. School instructors say they haven’t been paid for months and that American Honda sent a truck to Las Vegas Motor Speedway to repossess the school’s fleet of bikes last week. “I love the school to death, but the guy kind of f-cked us all,” said an instructor, who added that he and other instructors are owed thousands of dollars by Spencer. “It isn’t due to a lack of students, it’s due to mismanagement. Freddie owes everybody money.” The instructor asked not to be identified. Reached on his cell phone, Lead Instructor Nick Ienatsch said, “Freddie Spencer is having some personal problems and those personal problems bled into the business side of the school, and when the economy got tough and the price of gas went up all those things came together and slowed the school down. “Freddie has been fantastic to work for and it has been a great relationship for 11 years,” said Ienatsch, who has been the Lead Instructor at the school since it started. “Like anybody who really knows him I’m willing to help him in any way I can in the future.” More, from former instructor Jeff Haney: A statement by Jeff Haney regarding Freddie Spencer’s High performance Riding School: I worked with the Spencer school for over 9 years and had some of the greatest experiences of my life, working with students ranging from beginners to World Champions. We are all in tough times and I wish the best for everyone affected by this. I have not been involved with the school since December 2007, but would help Freddie again if the opportunity presented itself. Sincerely, Jeff Haney