TIGERS Rozelle Development

Balmain Tigers and Western Suburbs Magpies Junior Development Discussion
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GNR4LIFE
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Re: TIGERS Rozelle Development

Post by GNR4LIFE » Thu 01 Nov, 2018 5:05 am

I work in local Government. From what i’ve heard, the Inner West Council is a mess.


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momo&medo
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Post by momo&medo » Thu 01 Nov, 2018 9:43 am

mike wrote:
Wed 31 Oct, 2018 8:44 am
Russell wrote:
Wed 31 Oct, 2018 8:31 am
mike wrote:
Wed 31 Oct, 2018 8:13 am
Russell wrote:
Wed 31 Oct, 2018 8:08 am


What have they got to lose that they haven't already lost?
A lot more. Wests Tigers is viable why would you want to expose them to this risk?
Has nothing to do with West Tigers!

It is the Balmain leagues Club.
Yes I understand that but isn’t the tweets asking the two Balmain Wests Tigers board members for assistance @ WestsTigers. This is fool hardy if they expose the Wests Tigers in any way to this development.
X2
after just getting our house in order the WT organisation needs to look forward not backwards.
The resurrection of the Balmain Leagues Club is just exposure to high cost, high risk which could set us back for years.
I think you just need to look at Cronulla situation where they committed to large development plan which may or may not prove successful but which is sucking up their resources big time.
If Balmain Leagues is to be a goer let the Balmain Board find a private sector sugar daddy to get in bed with and try and get a result. Not WT or West’s Ashfield.

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Post by hammertime » Thu 01 Nov, 2018 11:44 am

I'm not sure how it works, but I believe all assets will now be sold and debts settled (as much as possible given what equity can be recouped)

Given the brand will be sold also, I assume it may be a possibility it can be resurrected with a clean slate, just as long as it's technically the same entity. Does anyone know?

Man its rich how Benny still has the nerve to blast everyone and everything after his fingerprints are all over the downfall of his club.

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Post by Snake » Thu 01 Nov, 2018 12:27 pm

hammertime wrote:
Thu 01 Nov, 2018 11:44 am
I'm not sure how it works, but I believe all assets will now be sold and debts settled (as much as possible given what equity can be recouped)

Given the brand will be sold also, I assume it may be a possibility it can be resurrected with a clean slate, just as long as it's technically the same entity. Does anyone know?

Man its rich how Benny still has the nerve to blast everyone and everything after his fingerprints are all over the downfall of his club.
I am sure the West’s group will purchase all there pokies ..I do not think they would have assets of 20 million to cover the NRL debt let alone the already owed creditors.
Sad as it is I think what if anything is left of Balmain after the fire sale should be allocated to the junior league in there area ....

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Post by Abraham » Thu 01 Nov, 2018 12:29 pm

Just to put things into historical perspective:

August 27, 2009 6:49am

Benny Elias in $200m deal to save Balmain Leagues Club
By Ray Chesterton and Dean Ritchie, DailyTelegraph

BALMAIN'S favourite son Benny Elias has saved his greatest contribution to the club until his retirement.

The former Test hooker has formed a consortium to guarantee $200million to save the leagues club from going bankrupt.

Balmain Leagues Club members will vote tonight on whether to accept the proposal, which is packed with incentives to facilitate the transition.

``Really there is no alternative,'' Elias, a board member of Balmain, said. ``The only option if the proposal is voted down is to close the leagues club doors.''

The deal, which also includes long-term financing for the Balmain component of the Wests Tigers NRL merger, allows the consortium to take over the massive reconstruction of the club property on Victoria Rd at Rozelle.

In exchange for selling the leagues club, members will get two temporary venues, possibly at Flemington Markets and one closer to the city, for five years while the reconstruction of the present site is completed. When completed, members will be presented with a new leagues club that is debt-free.

Elias said the consortium would also provide the $4.5million-a-year for three years to meet its commitments.

Until Elias's consortium emerged, the future of Balmain League Club was dire. It was slowly dying from monthly losses of about $100,000 with no relief in sight.

Smoking laws, changed trading hours and the nearby casino all affected the club's trading. Negotiations with major development firms, including Mirvac, Leightons and Walker, were all thwarted by the economic recession.

``We looked like going ahead with the Reed Property Group but it was 40 per cent owned by Lehmans, which was hit by the recession,'' Elias said. ``That was the end of that. The situation became desperate.''

The proposed redevelopment is one of the biggest attempted in Sydney. It will be 12 storeys with room for commercial, residential and commerce outlets.

It will be built around a massive open plaza and will benefit from the passing traffic of passengers arriving on the metro station, which will be close to the club.

Elias said he was proud to be contributing to a project that was so close to his heart.

A veteran of 234 first grade games for the Tigers and kangaroo tours in 1986 and 1990, he said saving Balmain became a major part of his life and he watch the leagues club2s lingering death.

``We hope to start the project in the new year, he said.

``The D.A will be submitted next week.

He said Leichhardt Oval, once ambivalent to the redevelopment, was now totally supportive and appreciated that more than 1000 jobs would be created.

``There has been a lot of emotion involved,22 he said.

``I was lucky to find someone like Ian Wright to be involved. He has been a life-saver.''

Paul Sironen, a Balmain and Wests Tigers director, said the Leagues Club was losing close to $100,000 a month.

``Benny's consortium has been like a white knight,'' Sironen said.

``Unless they take over, we will be very close to shutting the doors. We are going broke.

``If we want to be around for the next 100 years, then members must vote in favour.

``Either that or we shut the front doors and it's all over.

``This club has a lot of tradition.''

Former Balmain champion Steve Roach also urged members to vote for the proposal.

``The only other option is the bad option,'' Roach said last night.

``We need to survive and we need to keep 100 years of tradition going.

``I think the members should vote for it...100 per cent. The Tigers have to live on.''


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Post by Silentio » Thu 01 Nov, 2018 12:52 pm

hammertime wrote:
Thu 01 Nov, 2018 11:44 am
I'm not sure how it works, but I believe all assets will now be sold and debts settled (as much as possible given what equity can be recouped)

Given the brand will be sold also, I assume it may be a possibility it can be resurrected with a clean slate, just as long as it's technically the same entity. Does anyone know?

Man its rich how Benny still has the nerve to blast everyone and everything after his fingerprints are all over the downfall of his club.
The Balmain Tigers brand (technically speaking, the trademark) is owned by NSWRL.

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Post by barra » Thu 01 Nov, 2018 2:25 pm

Abraham wrote:
Thu 01 Nov, 2018 12:29 pm
Just to put things into historical perspective:

August 27, 2009 6:49am

Benny Elias in $200m deal to save Balmain Leagues Club
By Ray Chesterton and Dean Ritchie, DailyTelegraph

``We hope to start the project in the new year, he said.

``The D.A will be submitted next week.

Surely even if supported, things couldn't move that quickly? Or does he mean sometime next year... even that might be a stretch given the difficulties of getting an adventurous DA approved.

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Post by Abraham » Thu 01 Nov, 2018 3:13 pm

barra wrote:
Thu 01 Nov, 2018 2:25 pm
Abraham wrote:
Thu 01 Nov, 2018 12:29 pm
Just to put things into historical perspective:

August 27, 2009 6:49am

Benny Elias in $200m deal to save Balmain Leagues Club
By Ray Chesterton and Dean Ritchie, DailyTelegraph

``We hope to start the project in the new year, he said.

``The D.A will be submitted next week.

Surely even if supported, things couldn't move that quickly? Or does he mean sometime next year... even that might be a stretch given the difficulties of getting an adventurous DA approved.
This article is from 2009 barra ... look at the date which i put in bold.

I posted it to show what the club's situation was back then, and Elias' role in the deal that everyone today blames for the Leagues Club's current predicament.

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Post by Balmain Boy » Thu 01 Nov, 2018 3:24 pm

Just because the Balmain Leagues is closed, all that means is Balmain Football Club needs to find a new form of revenue, which it has already been doing for some time.
Wests Ashfield will setup a club in the new development if it will be commercially viable. They have far, far more astute people in charge than Balmain Leagues ever did. Way too many jobs for the boys at Balmain.
It's a tough market though. Pokies won't really do it. It needs to be a far more diversified offering. In time I think we could well have Wests Tigers Leagues Club Ashfield, and Wests Tigers Leagues Club Balmain

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Post by barra » Thu 01 Nov, 2018 3:37 pm

Abraham wrote:
Thu 01 Nov, 2018 3:13 pm
barra wrote:
Thu 01 Nov, 2018 2:25 pm
Abraham wrote:
Thu 01 Nov, 2018 12:29 pm
Just to put things into historical perspective:

August 27, 2009 6:49am

Benny Elias in $200m deal to save Balmain Leagues Club
By Ray Chesterton and Dean Ritchie, DailyTelegraph

``We hope to start the project in the new year, he said.

``The D.A will be submitted next week.

Surely even if supported, things couldn't move that quickly? Or does he mean sometime next year... even that might be a stretch given the difficulties of getting an adventurous DA approved.
This article is from 2009 barra ... look at the date which i put in bold.

I posted it to show what the club's situation was back then, and Elias' role in the deal that everyone today blames for the Leagues Club's current predicament.
Ah! Apologies, just skimmed it and thought it might have been recent news... had already forgotten about it!

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Post by Patts » Sun 11 Nov, 2018 9:10 pm

Did anyone attend the Balmain AGM this morning and can tell us what the future funding model looks like?

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