I agree with the first part.
Some disagree and are adamant our NSW Cup team must be Wests Tigers, even though Brisbane and Melbourne do not feel the need to have their feeder teams replicate the name of their NRL team.
As for the debenture system, I am very sketchy on how it exactly works, but my understanding their is a current t clique involving 3 of 4 internationals who are currently in control and the others have not yet reached that status.
I’m tipping there is a huge chance of an internal challenge as a result of the recent events.
The debenture system has been explained multiple times. but I think people are very confused by it all. I will do my best to explain because it might stop some of the theories that circulate.
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What is HBG?
HBG is simply a registered club that "owns" Wests Ashfield and associated clubs, like Croydon Sports Club etc. More accurately, HBG members are the "owners"...but no one really "owns" anything in the true sense of the word...if all assets were sold and the organisation was dissolved, no one would receive any financial benefit. Any cash remaining would, by law, need to be transferred to another registered club or related non-profit. It does not distribute dividends, profits or capital gains like a company would. For simplicity, it is far easier to describe it as control over assets rather than ownership as we know it.
Financial incentive is not a driving factor for HBG powerbrokers.
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What is a "Debenture Holder"?
When the club was established, a limited number of individuals
subscribed funds. These were secured by “debentures.” Those individuals became
“Debenture Holders.” Under the constitution, a maximum of 20 debenture holders can exist at any one time.
A debenture holder is a structural position, not a board position. Debenture-holders hold a privileged, constitutionally entrenched status unless they transfer their debenture or are removed for conduct related issues. Their status isn’t based on annual membership votes, but on
original subscribed funds + board-approved transfer rules. The club constitution anchors it.
Debentures are not transferable
without consent of the board. and can only be transferred to persons who are members of the Club. the board is made up of 7 people. 5 board seats are reserved for debenture holders. The majority voting bloc is debenture holders.
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So...out of 20 people, 5 will sit on the board at any one time and 15 will have no say. These 20 people compete for the 5 power seats on the board constantly. This is a source of infighting and instability as the competing factions try to gain power on the board and impose their will. Romero implemented the review...Burgess, who is now the chair, undid it all....this has been on rinse and repeat for years. Wests (the rugby league club) and Balmain don't really have anything to do with it.
They are not like a traditional owner would who invested millions in capital and can do what they want. These guys have managed to control power of a multi-million dollar organisation that is supposed to be member-owned, yet 20 people control all the voting power and cannot be voted out.
That is where the outrage comes from.
