Meriton could drop major sponsorship

[system]

Same article you quote states "[Boards] need an atmosphere of high trust and respect"

That does not exist currently and never will in the current setup

 

[barra]

I can see us playing two at CSS & two at LO with the remainder at Homebush including an agreement to use the state of the art training facilities in complex. Base our offices there as well

That's where we are going to play next year anyway, isn't it?

I understand that the NRL would want a say in most matters, however relocation away from western Sydney would not be supported by Wests Ashfield who is the club's major funder, so I can't see how that would happen anyway?

Moving to the above model makes most sense.

 

[Abraham]

I'm not sure why the NRL proposal is being discussed on this thread - but I have a few thoughts.

I don't believe that offering an $8m loan to an insolvent organisation will solve any problems. Some organisation will have to repay the loan, presumably Wests Ashfield, and why would they agree when they have only two members on the board?

This is probably a bad analogy, but it is a little like being asked to go guarantor for a loan. I was asked once to go guarantor, and my solicitor said "I only have one word of advice - don't do it". The point is, why should an entity make itself responsible for a loan, when they have no effective say in the financial affairs of the organisation that is borrowing the money.

With regard to independent directors, there is no guarantee that they will serve the interests of the WT. As Gary Bakerloo says above "be careful what you wish for".

I don't think that's how it works.

The NRL would most likely withhold parts of the annual grant to the WT over a number of years until the Loan was repaid, rather than ask Balmain and Western Suburbs to enter into some sort of repayment plan.

Thanks for setting me straight on that Abraham. In view of your advice, I am left wondering why it might be regarded as such a good deal for the WT. It appears that we are simply getting an advance on the money we were going to receive anyway.

Sorry for the late reply mate, haven't been on here in a few days.

I think the issue is more to do with the timing of the money. They need it now, and have most likely already budgeted for how they will use the upcoming NRL grant.

I also assume the NRL would offer the loan at better rates than the commercial banks would, which is why they don't go that path.

However I am assuming a lot, as I only have the same info everyone else has through the media etc.

 

[Gary_Bakerloo]

I also assume the NRL would offer the loan at better rates than the commercial banks would, which is why they don't go that path.

However I am assuming a lot, as I only have the same info everyone else has through the media etc.

Need to remember the tax benefit for Wests Ashfield.

 

[twentyforty]

How does an organisation make so many poor decisions?

 

[magpies forever]

How does an organisation make so many poor decisions?

May I ask what the heck you're referring to? Previous comment was 11 years ago. I can't see anything relevant in media today or club website to get your angst. I understand you're not thrilled with how we are going but resurrecting a 11 year old thread without some context has me confused.

 

[The Fresh Oil]

How does an organisation make so many poor decisions?

lol 3 pointer from waaaaaaaaaaaay back in time. Nothing but net.

 

[twentyforty]

May I ask what the heck you're referring to? Previous comment was 11 years ago. I can't see anything relevant in media today or club website to get your angst. I understand you're not thrilled with how we are going but resurrecting a 11 year old thread without some context has me confused.

Gosh mate, you’ve got some imagination.
I saw the title and wondered why Meriton dropped us, but the more I read the more bewildered I became, just like I am with your stupid comment. Grow up.

 

[innsaneink]

Something really stinks about the way our club is run. I don't know how the board can sit back and look at they way they are running the show and say yes we are leading the club in the right direction with Wests Tigers best interests at heart. They need to be cleaned out and replaced with an independent body, who are keen on moving Wests Tigers forward as a brand and securing the clubs future, instead of dwelling on the past.

Nek minnit....or 11 years later

 

[Tom Shines]

August 2013… if only we knew the 11 years ahead …

Good times…

 

[Pascoes_barber]

Gosh mate, you’ve got some imagination.
I saw the title and wondered why Meriton dropped us, but the more I read the more bewildered I became,

When you eventually catch up with everything else that's happened in the 11 years since then you'll be shocked and appalled.

Get out while you still can.