GNR4LIFE
Well-known member
@Guest said:
Beat it parasite. Its idiots like you that give the rest of us a bad name
Balmain Leagues Club Receivership
- Thread starter wtfl1981
- Start date
Beat it parasite. Its idiots like you that give the rest of us a bad name
Go_Moltzen
Member
@Guest said:
Team with the word Magpies in it will never be in the NRL.
Black_n_White
New member
@Guest said:
what a gutless wonder… kick them when they are down, and hide behind the guest username. Too classy. Hit the bricks scum.
S
system
Guest
@Black'n'White said:
Just face the facts and get over it. Balmain are broke and have been sapping the Joint Venture dry. Tell me how long can The Western Suburbs Magpies feed them through a drip. Please don't be a hater as I love The Wests Tigers but it's now a business and in business, if you haven't got the dough then you've gotta go.
_Posted using RoarFEED 2013_
MacDougall
New member
Receivership doesn't equate to bankruptcy. I have a client who as part of a firm was a receiver for a billion dollar company whose overheads were crippling it to the tune of some hundreds of millions of dollars per year and when they took control cut cut cut and turned it back into a company turning a profit in excess of 200 mil per year.
If Balmain Leagues in it's current state were to go on the auction block it would be a blessing in disguise. By Rozelle pushing forward with legal matters it's opened up the opportunity for whoever takes over Balmain to cut all contractual obligations to Rozelle Village and re-establish a name brand in a completely new way. It'd be a pretty smart buy for a person with the know how.
Harry would be easily able to take a bargain like Balmain and re-establish it and turn it into a business turning a trade. Hell I reckon I could.
If Balmain Leagues in it's current state were to go on the auction block it would be a blessing in disguise. By Rozelle pushing forward with legal matters it's opened up the opportunity for whoever takes over Balmain to cut all contractual obligations to Rozelle Village and re-establish a name brand in a completely new way. It'd be a pretty smart buy for a person with the know how.
Harry would be easily able to take a bargain like Balmain and re-establish it and turn it into a business turning a trade. Hell I reckon I could.
GNR4LIFE
Well-known member
@MacDougall said:
If its that easy, why hasn't been done already? clearly theres more to it then that.
Black_n_White
New member
@Newtown said:
if you screw the pooch, you dont go ringing the RSPCA to brag about it.
MacDougall
New member
@GNR4LIFE said:
I would imagine it's the contractual obligations that require them to establish operations inside Rozelle village and that they have to pay back debt to Rozelle while having no establishment to generate trade (enough trade that is) to pay them. The contractual obligations would be rendered severed if the company was bankrupted or receivership was handed over and there would be nothing stopping someone from using the acquired brand name elsewhere. I could see this law suit slapping Rozelle in the face if Leichhardt Council and ANONYMOUS THIRD PARTY play their cards right.
Receivers buy debt
Receivers sell Balmain Tigers assets and contracts to third party (or take over such obligations and rights themselves)
Council/Government continue to block Rozelle
Rozelle get over it and decide to sell the land
Balmain Tigers wait until the right time to offer to buy back the land at a reduced cost and laugh at Rozelle Village. Build an approved facility on site
In actual fact there are two likely outcomes assuming Balmain lose the case.
Rozelle downgrade their proposition to suit council approval. The company Balmain Leagues is sold to receivers who then re-establish Balmain Leagues elsewhere (let's face it, SOMEONE is going to want to buy Balmain Leagues brand and naming rights). Rozelle goes ahead without Balmain which is set up somewhere else.
or
Rozelle refuse to budge, get over it and put the property up for sale.
There's no way there isn't a person out there who wants to own Balmain Leagues. Hell the ARLC themselves if worse comes to worse would probably just buy it.
This may force us toward what I see is a far more sustainable model where the football operation covers it's own costs is not reliant on grants from league's club.
I think this model is well and truly outdated.
on a separate note I think the NRL should centralise a number of administrative functions and take some costs out of the game
I think this model is well and truly outdated.
on a separate note I think the NRL should centralise a number of administrative functions and take some costs out of the game
MacDougall
New member
Hell what's stopping Wests Leagues from BUYING Balmain Leagues once they go into receivership? That would be awesome. They could merge the two junior league competitions together, build a new Wests Leagues club in the inner west… Do it.
GNR4LIFE
Well-known member
Macca, make it sound as uncomplicated as you want, but the fact no one has stepped forward and done any of these things, it tells me things are a lot more complicated than the lock you're making it out to be.
MacDougall
New member
You're probably right. I'm quote an optimist I suppose and there will be things that aren't obvious to the external third party.
The logical answer though is that it's literally not been possible to do any of that stuff because they have a lease agreement with Rozelle Village and as such are unable to establish elsewhere.
Of course Harry or some other yahoo could have just offered to buy Balmain, pay out Rozelle and go do all that stuff BEFORE catastrophe but I'm assuming that the desperation of the moment will put the wheels in motion and that until now most people capable of doing so wouldn't realise the potential/gravitas of the situation.
The logical answer though is that it's literally not been possible to do any of that stuff because they have a lease agreement with Rozelle Village and as such are unable to establish elsewhere.
Of course Harry or some other yahoo could have just offered to buy Balmain, pay out Rozelle and go do all that stuff BEFORE catastrophe but I'm assuming that the desperation of the moment will put the wheels in motion and that until now most people capable of doing so wouldn't realise the potential/gravitas of the situation.
GNR4LIFE
Well-known member
There's also another thing people overlook. Say the debt was wiped, they still need money to start a club up. To hire, furnish, pay bills etc. Where's that money gonna come from?
MacDougall
New member
@GNR4LIFE said:
Yeah I'm assuming anonymous buyer just pays for it all. :laughing:
Thinking more on it though, hard to imagine that the identity of Balmain Tigers Leagues alone is worth enough to justify acquiring all that debt. What happens if the operation goes belly up completely. What's stopping a new company from just setting up as Balmain Tigers if there's no other company called that anymore?
G
Guest
Guest
@GNR4LIFE said:
I think we need to head down the road of privatisation to be honest. I'm being incredibly hypothetical here as this is merely a pipe dream, but it would be great if Harry T came in, bought the club and then built a brand new purpose built HQ and training facilities, while upgrading Campbelltown Stadium to handle 30k crowds…Now back to reality 😢
S
system
Guest
@willow said:
_Posted using RoarFEED 2013_
Basil_Tiger
New member
Sironen predicted all this a year or so back in a TV tour of the old club,,i think its still on Utube somewhere.
I have to be careful what i say but there are people in the shadows that want our Rozelle land,they don't care about the Balmain Tigers heritage or anyone trying to keep the club going,it just all about the $.
I have to be careful what i say but there are people in the shadows that want our Rozelle land,they don't care about the Balmain Tigers heritage or anyone trying to keep the club going,it just all about the $.
T
Tiger_In_The_Gong
Guest
I think everyone has seen the Phil Gould voiced Panthers add, i think everyone is getting a clearer picture of their vision and long term potential to be a western Sydney super club.
I think everyone has seen the success of the Wanderers and the long term threat they pose to rugby league in the west.
Wests Magpies will not survive on their own in this climate, they will be forced to merge again or relocate.
Balmain Tigers gives the joint venture marketability.
These latest developments will be the best thing for the Wests Tigers as in the end the ground swell of support for Balmain will lead to a Souths like campaign that will only strengthen our brand.
I think everyone has seen the success of the Wanderers and the long term threat they pose to rugby league in the west.
Wests Magpies will not survive on their own in this climate, they will be forced to merge again or relocate.
Balmain Tigers gives the joint venture marketability.
These latest developments will be the best thing for the Wests Tigers as in the end the ground swell of support for Balmain will lead to a Souths like campaign that will only strengthen our brand.
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