Balmain Annual Report; financial issues

[Kul]

Balmain's annual report came out today.

Some key points were
- Rozelle site drags on. Apparently they are lodging another application very soon. Members urged to voice their support (i'll post a link when it gets posted on the DOP site)
- Operating loss to the consolidate group after tax $3,186,798
- Revenue from ordinary activities down 42%
- Grant to Wests Tigers $242,223 (2009: $277,716)

Todden:
attended 12 of 12 board meetings, 11 of 12 finance committee meetings, 10 of 10 Wests Tigers meetings

Dawn Fraser:
attended 6 of 12 board meetings, 6 of 10 Wests Tigers meetings
why is this person still on the board? It looks like she just lacks the commitment that's expected

by the way, i've never noticed it before, but there's an interesting note in regards to the JV
"Under the terms of the joint venture agreement with Western Suburbs Rugby League Football Group Pty Limited, the consolidated group is committed to contribute annually to Wests Tigers Rugby League Football Pty Limited financial support up to $1.5 million until 2011"

 

[Sabre]

by the way, i've never noticed it before, but there's an interesting note in regards to the JV
"Under the terms of the joint venture agreement with Western Suburbs Rugby League Football Group Pty Limited, the consolidated group is committed to contribute annually to Wests Tigers Rugby League Football Pty Limited financial support up to $1.5 million until 2011"

Which means…?

 

[PYMBLEPETE]

Well it is a bit strange; the words 'up to' seem to make the statement meaningless - they could chip in five cents and comply with that. The reference to 2011 is interesting though, suggesting that there would be some sort of review of financial contributions beyond that time.

 

[Kul]

what happens after 2011? Are all financial obligations dropped?

 

[Yossarian]

6 meetings for Dawn is one of her better efforts. Put simply, she's on the board because she is a National Living Treasure and getting rid of her would probably cause problems with a lot of members.

 

[Balmain_Bug]

How much longer can Balmain afford to fork out money when not much is coming in in an unknown question. Wests have two leagues clubs, Balmain have a couple of little locations they have leads baring their name ! Crazy stuff !!