Balmain Leagues Club Receivership

@Tiger In The Gong said:
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 thats quite an exaggeration. Souths marched cos they got kicked out of the competition. Balmain already don't exist in the same way Souths supporters lobbied to get them back. If they fight, its not like Balmain will be back in the NRL. This might be something people disagree with and fair enough, but i think only the real diehards are being affected by this, cos at the end of the day, WT's will remain, and i think a fair chunk of people don't care what goes on behind the scenes. I think you comparing this to Souths is way off the mark, to me its more comparable to Norths or Newtown.
 
Whilst I understand Balmain Leagues Club and Balmain Football club are two separate entities, one would presume that this will significantly impact Balmain Football Club's ability to repay the 4 Million dollars loaned to the club by the NRL. So if the club is unable to repay the NRL, they lose their seats on the board. So technically the club would be part owned and run by the NRL and Western Suburbs if Balmain cannot repay the loan to the NRL. Is this correct? I don't see being part owned and run by the NRL as being a bad thing, provided their plans are for us to remain in Sydney.
 
@Fraze23 said:
Interview with the Mayor of Leichardt.

http://www.2gb.com/audioplayer/36831#.UyjNjqiSyz5

The mayor is a hypocrite, leichhardt council told balmain 10 yrs ago to buy all the adjacent properties to ensure the redevelopment. The club than spent yrs trying to get the DA approved and paying millions in repayments of the properties and the council and minority locals fought every attempt to start the process. The club then went hard and tried the developer angle and the GFC hit. By now the debts are mounting and we sell the debt to benny and his rozelle village who get greedy with the state govt and the metro and sure enough the deal falls through and the latest plans are again opposed by this council. Benny shoots through the club is about to die and the mayor says " i love the tigers". Well guess what you may love the tigers but your hatred of the developer and the multiple sets if proposals has contributed to the imminent death of the tigers. So piss off and hug a tree.

_Posted using RoarFEED 2013_
 
@tottie said:
@Fraze23 said:
Interview with the Mayor of Leichardt.

http://www.2gb.com/audioplayer/36831#.UyjNjqiSyz5

The mayor is a hypocrite, leichhardt council told balmain 10 yrs ago to buy all the adjacent properties to ensure the redevelopment. The club than spent yrs trying to get the DA approved and paying millions in repayments of the properties and the council and minority locals fought every attempt to start the process. The club then went hard and tried the developer angle and the GFC hit. By now the debts are mounting and we sell the debt to benny and his rozelle village who get greedy with the state govt and the metro and sure enough the deal falls through and the latest plans are again opposed by this council. Benny shoots through the club is about to die and the mayor says " i love the tigers". Well guess what you may love the tigers but your hatred of the developer and the multiple sets if proposals has contributed to the imminent death of the tigers. So piss off and hug a tree.

_Posted using RoarFEED 2013_

Let's take some ownership here. We made some terrible decisions, from development partner right through to development proposal. 18 stories… On that site. Seriously. Once metro was scrapped the proposal needed to change.

What would you have done if you were mayor?

_Posted using RoarFEED 2013_
 
@tottie said:
@Fraze23 said:
Interview with the Mayor of Leichardt.

http://www.2gb.com/audioplayer/36831#.UyjNjqiSyz5

The mayor is a hypocrite, leichhardt council told balmain 10 yrs ago to buy all the adjacent properties to ensure the redevelopment. The club than spent yrs trying to get the DA approved and paying millions in repayments of the properties and the council and minority locals fought every attempt to start the process. The club then went hard and tried the developer angle and the GFC hit. By now the debts are mounting and we sell the debt to benny and his rozelle village who get greedy with the state govt and the metro and sure enough the deal falls through and the latest plans are again opposed by this council. Benny shoots through the club is about to die and the mayor says " i love the tigers". Well guess what you may love the tigers but your hatred of the developer and the multiple sets if proposals has contributed to the imminent death of the tigers. So piss off and hug a tree.

_Posted using RoarFEED 2013_

100% agree. Leichhardt Council told them to buy additional sites at great cost then didn't back the development. The club lost millions because of this. Darcy Brynes is a much to blame as anyone.
The rate payers of Leichhardt should be ashamed of the money spent by the council to oppose any development proposal on the site. They and the greens have funded an minority anti development action group.
The former Labour state government has a lot to answer to. The club stopped trading to allow the start of the failed metro project. The project stopped shortly after. The club could of still been trading today whilst waiting for a development to be approved if not for this.
The current state government is in charge of the site under part 3a, they should have approved some development on the site by now. They should have the balls to stand up
To the minority local action group, it is unlikely they will ever win the affected seat either at state or federal level.
Also Rozelle Village have some blame. I can't see the point of trying to wind up the local club in court will win you any favours. Google the owners and boycott the real estate group he is involved with, they even have officers in the inner west.

_Posted using RoarFEED 2013_
 
@Mccarry said:
@tottie said:
@Fraze23 said:
Interview with the Mayor of Leichardt.

http://www.2gb.com/audioplayer/36831#.UyjNjqiSyz5

The mayor is a hypocrite, leichhardt council told balmain 10 yrs ago to buy all the adjacent properties to ensure the redevelopment. The club than spent yrs trying to get the DA approved and paying millions in repayments of the properties and the council and minority locals fought every attempt to start the process. The club then went hard and tried the developer angle and the GFC hit. By now the debts are mounting and we sell the debt to benny and his rozelle village who get greedy with the state govt and the metro and sure enough the deal falls through and the latest plans are again opposed by this council. Benny shoots through the club is about to die and the mayor says " i love the tigers". Well guess what you may love the tigers but your hatred of the developer and the multiple sets if proposals has contributed to the imminent death of the tigers. So piss off and hug a tree.

_Posted using RoarFEED 2013_

Let's take some ownership here. We made some terrible decisions, from development partner right through to development proposal. 18 stories… On that site. Seriously. Once metro was scrapped the proposal needed to change.

What would you have done if you were mayor?

_Posted using RoarFEED 2013_

I agree our board should face criminal charges for the lack of due diligence. But lets not forget that the towers were increased in height to recoup lost monies and with the attempt "to go for gold (ie 17 levels) and get bronze
( maybe 12)" based on the continual o obstruction from Leichhardt council and action groups over floor space ratios etc. The mayor can bag the state govt all he likes but the state govt took it off Leichhardt council because they took 10yrs before that!!! Either way we have been screwed by all sides and the reality that we are finished has all parties ready to claim innocence.
Where is Trodden, Stapleton, Fraser, Glen and co who led us here??? When will Ben Elias tell us why he sold out of the deal???Where is an extraordinary football club meeting for the members, when was the last correspondence from them? If it wasn't so sad it would be laughable.

_Posted using RoarFEED 2013_
 
@Fraze23 said:
Interview with the Mayor of Leichardt.

http://www.2gb.com/audioplayer/36831#.UyjNjqiSyz5

The big question still hasn't been answered, where is the millions in compensation from the failed metro project? Who will that compensation go to?

_Posted using RoarFEED 2013_
 
@sunshine coast tiger said:
@Fraze23 said:
Interview with the Mayor of Leichardt.

http://www.2gb.com/audioplayer/36831#.UyjNjqiSyz5

The big question still hasn't been answered, where is the millions in compensation from the failed metro project? Who will that compensation go to?

_Posted using RoarFEED 2013_

Companies that were going to tender to build it got paid compensation, other people that had to move got paid compensation etc ..

Where is the compensation for the club that had to stop trading ?

_Posted using RoarFEED 2013_
 
A gleaming billboard rises from the woebegone remnants of what Tigers fans once called the Balmain Leagues Club. ''A TRUE VERTICAL VILLAGE,'' it promises, rather optimistically, to the motorists flashing by this concrete wasteland on bustling Victoria Road.

The proposed Rozelle Village became so ambitiously vertical in the dreams of its developers - 32 storeys at one point - that Airservices Australia deemed it would encroach into airspace. That plan, like several for the site, never got off the ground.

Now that the developers are in court and striving to push the leagues club into receivership, some locals fear it might spell the end for the Tigers' dreams of returning to their spiritual homeland with their own club in that new building; or doom for their 106-year-old sporting institution; or peril for the NRL's Wests Tigers.
Advertisement

Other locals are wondering if they should have protested less loudly in 2008, when Leichhardt Council rezoned the club's site to allow it to rebuild at 12 storeys.

The global financial crisis soon got in the way. The club could no longer afford to run the development itself.

But then came a white knight, Benny Elias, a former Tigers and Test hooker with a plan to relieve the club of its burden. Elias, as developer, would broker a deal under which he and a partner, Double Bay real estate agent Ian Wright, would buy the club's property for $1, in return for taking on its $23.5 million debt.

The club would be guaranteed a home - which it would lease, not own - amid the new $300 million residential and retail towers. The leagues club took up temporary digs in Five Dock and Flemington Markets and borrowed millions from Rozelle Village to keep functioning, and these debts mounted while the developer's proposals kept being rejected.

In the meantime, the state had taken control of the site from the council under its Part 3A planning laws. The former Labor planning minister, Frank Sartor, would tell the Independent Commission Against Corruption in 2012 that his colleague Eddie Obeid had called to lobby for the club development. Obeid is starring at another ICAC hearing into Australian Water Holdings along with Nick Di Girolamo, a Liberal Party connection who stood down as deputy chairman of the Wests Tigers NRL club this month.

The developers' latest incarnation of Rozelle Village is 24 storeys, but it is yet to win Planning Department approval after three years. Elias is no longer a Rozelle Village director.

''This drawn-out saga must come to an end before the Tigers are forced into extinction,'' Leichhardt's Labor mayor, Darcy Byrne, said on Tuesday. He wants to sit down with Planning Minister Brad Hazzard to arrive at a development that can and should be passed. ''We also need a guarantee … that Wests Tigers will continue as an entity and that games will continue to be played at Leichhardt Oval.''

Ric Scissons co-founded the Stop the Rot campaign that kept the Tigers at the local oval. He cannot countenance the NRL ditching one of its greatest brands, the Tigers, so they might be subsumed as the Wests Magpies. ''It would be like Coke ditching Sprite.''

Read more: http://www.smh.com.au/nsw/balmain-leagues-club-in-peril-over-rozelle-village-development-20140318-350ge.html#ixzz2wMpIkOWM
 
today will be a very sad day for rugby league, if the receivers are given permission to do their job.
a piece of history in of all of us will no longer exist.
 
@Fraze23 said:
Whilst I understand Balmain Leagues Club and Balmain Football club are two separate entities, one would presume that this will significantly impact Balmain Football Club's ability to repay the 4 Million dollars loaned to the club by the NRL. So if the club is unable to repay the NRL, they lose their seats on the board. So technically the club would be part owned and run by the NRL and Western Suburbs if Balmain cannot repay the loan to the NRL. Is this correct? I don't see being part owned and run by the NRL as being a bad thing, provided their plans are for us to remain in Sydney.

Correct

_Posted using RoarFEED 2013_
 
@Abraham said:
Any word on who this supposedly rich 'benefactor' is?

Or are we just assuming it is Harry T?

I think everyone assumes it is Harry T. It could be the blue wiggle, I don't know how much money he has but he loves the club.

Harry is amongst Australia's richest men and could easily afford to bankroll the Balmain side of the joint venture and even the whole of Wests Tigers but I don't think there is anything in it for him. The same could be said about the people who own Manchester City and Chelsea they lose millions ever year but the owners do it for the love of the club and the publicity it gives them.

_Posted using RoarFEED 2013_
 
@sunshine coast tiger said:
@Abraham said:
Any word on who this supposedly rich 'benefactor' is?

Or are we just assuming it is Harry T?

I think everyone assumes it is Harry T. It could be the blue wiggle, I don't know how much money he has but he loves the club.

Harry is amongst Australia's richest men and could easily afford to bankroll the Balmain side of the joint venture and even the whole of Wests Tigers but I don't think there is anything in it for him. The same could be said about the people who own Manchester City and Chelsea they lose millions ever year but the owners do it for the love of the club and the publicity it gives them.

_Posted using RoarFEED 2013_

Whether it's for publicity or just because they have humble hearts, it certainly would be a godsend to see them invest in Balmain and quite literally the whole of Wests Tigers.
 
@sunshine coast tiger said:
@sunshine coast tiger said:
The big question still hasn't been answered, where is the millions in compensation from the failed metro project? Who will that compensation go to?

_Posted using RoarFEED 2013_

Companies that were going to tender to build it got paid compensation, other people that had to move got paid compensation etc ..

Where is the compensation for the club that had to stop trading ?

_Posted using RoarFEED 2013_

Are they entitled to compensation?

Im not certain they are given they seemed to have gambled on the development getting the green light…..Im not sure however, probably wrong
 
Why is it we seem to turn to someone for a loan every time we have troubles

Eventually you have to learn to stand on your own two feet
 

Latest posts

Staff online

Back
Top