Taking a wrecking ball to the club! (Recent Media Reports)
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innsaneink
Well-known member
What's a debenture holder
Simple lingo plz
Simple lingo plz
How does a club that doesn’t just operate 1 club but multiple , so it’s a multi million dollar business , have a debenture setup in the first place in 2024?
How are these people proven to not just be skilled enough to keep the lights open at Ashfield but skilled enough to expand the business and continue growth , as per most business’ responsibility , usually tot just shareholders ?
This is a serious question. I honestly don’t understand how these people are vetted . How hasn’t the club imploded by simple popularity votes ? Is there some mechanism to prevent it ?
Does anyone actually know the answer to this ?
cochise
Well-known member
A debenture loans the club money, in the past it was used to raise revenue for upgrades etc. Now it is just used for people to buy control of the club.
The debenture holders at the Holman Barnes Group appoint 5 seats of the 7 seat Holman Barnes Group board.
farmduck
Member
A debenture is like a Government bond but it's issued generally by a business. It's generally an old idea before venture capitalists and large investment banks were common. Companies would issue the debentures at, for example, 5% interest over 5 years, to raise cash for expansion. These days, any business with good numbers or its own property would just borrow from a bank and startups would go to some venture capitalist.
innsaneink
Well-known member
Shafted 🤣
Man, you are petty.
Wests got the Wests in the name of Wests Tigers plus the original Magpie logo on the shoulder it's been there for a quarter of a century
Balmain got the Tiger in the but its 'Wests' Tiger not a Balmain one.... I see no shafting but of course there is none and you know all this already... It's so petty it's either trolling or you need some sort of guidance if this has bothered you for twenty five freeking years
cochise
Well-known member
Because it is in the constitution that was first set up 40-50 years ago.
cochise
Well-known member
The Debenture Holders at the Holman Barnes Group appoint the majority of the board.
farmduck
Member
It would have been Wests Magpies.
Unless you create a separate class of shareholder (or member) with greater voting rights for the debenture-holders.
HBG only has 177 general members, 6 Life Members and 389 Perpetual Members. The other 30,000 are Social Members. I don't know what the breakup of voting rights/privileges is.
cochise
Well-known member
The 18 Debenture Holders vote in 5 of the directors the General Membership vote for the other 2 directors.
Thanks ,im out on this thread to much crap slushing about on this subject which is a shame .Bloody computers always lead down multiple rabbit holes .WESTTIGERS 4 EVER
Guess the problem starts there?There the 1's to be leaned on for change,will they be shut down under the new secret review if all go's to plan
cochise
Well-known member
Highly unlikely that the debenture system is ever removed from the HBG.
Independant's on WT board negate their sway ,all good then?Different factions not having casting vote ,which goes to Barry/future truly independent brain with the betterment of the WT's front n center ,if factions are evenly stacked, which is worse cause scenario ?
cochise
Well-known member
That was the recommendation from the Crawford/ Barnier review last year. 7 seat Wests Tigers Board with 4 independents and 1 seat each for the ownership group.
This is what we are still waiting to be implemented.
This. The reality is we have a joint venture structure. It’s not a typical partnership where you can simply separate as both foundation clubs are deeply integrated into the Wests Tigers brand and are a key part of our identity. This is often overlooked in discussions. It shouldn't be perceived as an Us Vs Them dynamic - we have a unique advantage and that distinction can be our biggest strength if leveraged correctly.
The club has already identified our junior pathways as vital to its future success, with the growth of Campbelltown being a crucial part of our strategic planning. Both Wests and Balmain juniors represent our goldmine and securing this talent pool is essential for the club’s long term future. If internal issues or management decisions hinder this process, there’s a risk that rival clubs - like the Bulldogs - could encroach on our territory and capitalise on any instability to strengthen their own position in the region.
Focusing on divisive issues does little to address the broader challenges the club faces. The most urgent priority should be aligning on a unified direction, with careful attention in executing the external review's recommendations Ensuring the long-term health and success of the Wests Tigers remains at the forefront of the club's efforts.
hank37w
Well-known member
I thought exactly the same thing.
I had such a beautiful Pekin duck, the best friend I ever had, followed me around every where on the property.
She also laid the best eggs that averaged out at about 110-115 grams each.
The only thing I could fault about her (and probably any duck for that matter), absolutely no control what so ever over her arse hole, projectile crap everywhere.
Who chooses the independents and how do the future appointments get removed / replaced.
Thought so,Thanks ,nothing to do with some dude cant find his monocle while bird watching or world domination.simples
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