Benny Elias in $200m deal to save Balmain Leagues Club

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And what's the big deal if someone makes money from this? What would you rather? That they do it for free? or better yet, lose money from the deal?
 
Balmain leagues can not make a go of it where it is now,so why getting a few extra Sq meters will change anything? I feel that once this deal goes though and Benny sets the club up in a shed somewhere thats the end of Balmain leagues forever.I doubt this development will ever happen 1/ There will not be a Metro Rail as there will be a change in Government that will not build it (already policy).2/ The greens will use delaying tactics from day 1\. 3/ The liklyhood of the project going into insolvency in these economic times are huge and you no what that means for Balmain Leagues … I think it,s very sad how this has come about .maybe the members should be asking the Board of the club what,s gone wrong ! easy to blame certain factors but other clubs have prospered under the same rules.
 
hmm, let's see three home games, extra costs factor in traveling to other grounds, members have no say , fed cow dung, unable to be financially viable, I can just imagine how they are going to generate revenue to meet repayment. Yeah great investment "Not".
The revenue for supporting the amalgamated Wests Tigers will diminish over time due to costs and priority, be interesting to establish if any board members have an invested interest in this as well.
 
The "deal" with Benny now seems done & dusted,but unless the bank is knocking down the front door of the Leagues club & threatening foreclosure,we should have taken the time to extract the best possible outcome financially-even if it meant waiting for a year or two until developers got their finances together.
Suspect in a hindsight its gonna feel like the consortium pounced at an opportunistic time & got us on the cheap.
 
Well, it looks like 2 years later, Benny has achieved nothing except for swindling the ownership of the Balmain Leagues club land.

Nice one Benny.
 
@tigers05 said:
Looks like after two years you have nothing better to do with your time.

Nice one Bug
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Am I wrong ? The Balmain members voted that ownership be handed over to this so called Saviour who had these grand visions that have amounted to absolutely NOTHING except for him owning the land.

Where to from here ?
 
Deal is far more complicated than you suggest Bug with alot more protections for the clubs interest written in.

As it stands the lands worth is basically non existant whilstever the Greens keep blocking proposals
 
I think a change of direction is required ASAP. If there is no light at the end of the tunnel, maybe work with the Greens to see what they would approve and go from there. Time is money.
 
@Balmain Bug said:
I think a change of direction is required ASAP. If there is no light at the end of the tunnel, maybe work with the Greens to see what they would approve and go from there. Time is money.
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Work with the Greens?

Is that even possible?
 
Please Snowy, this is serious. A non financial side of the JV has ramifications for the otherside who still want to field a team in the State cup.

The Rozelle Village project is a major concern and I feel concessions need to be made to get the ball rolling.
 
with a change in government this year has slowed all developments down, what i am involved in has seen this happend this year with bigger developments and they are no coming to fruitoion again, even when the other governemtent was in charge it still took forever with the greens protesting so good luck working along side them if they had their way there would be nothing there
 
Ok, So if the Greens had there way there would be nothing done to the Leagues Club site, So get it back up and running in a general refurbishment and with newer ideas. Do something !!! ANYTHING !!!!! It does not have to be this Mega $200m structure.
 
With the coucil changing the zoning of the property behind closed doors I am unsure if the club would even be allowed to re-open
 
The problem with it's current location if it were to re-open unchanged is it's proximity to Star City. That's why it was losing money. Also the redevelopment was designed to address this by creating income streams not dependent on poker machines. I think BLC should be commended for their forward thinking and not criticized for trying to improve their financial situation.
 
What the council did was very sus. Benny and co would not have seen this coming

I wouldn't be suppressed if Rozelle Village sue
 
@thylacine said:
The problem with it's current location if it were to re-open unchanged is it's proximity to Star City. That's why it was losing money. Also the redevelopment was designed to address this by creating income streams not dependent on poker machines. I think BLC should be commended for their forward thinking and not criticized for trying to improve their financial situation.
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But this attempt as failed !!!!!

I think it is all beyond help now. This is why they are pushing for WT branded teams at all levels. Because they can no longer afford anything.

It is just so sad. Balmain Leagues Club was an icon of Sydney.

It is just so sad.
 
@thylacine said:
The problem with it's current location if it were to re-open unchanged is it's proximity to Star City. That's why it was losing money. Also the redevelopment was designed to address this by creating income streams not dependent on poker machines. I think BLC should be commended for their forward thinking and not criticized for trying to improve their financial situation.
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I am not a member but I would be of the belief that the (pokie) revenue we would generate from the Balmain Leagues Club site at Flemington Markets would be huge.

I remember a few years back Robert DeNiro did an ad for American Express Credit Cards. In it he walked past the World Trade site and called it "My Tragedy". Every day I drive past Balmain Leagues Club Rozelle and I echo those sentiments. It was one of the most iconic Leagues clubs of them all, and it is so sad to see it in it's current state.
 
@Chadman's Ghost said:
@Balmain Bug said:
I think a change of direction is required ASAP. If there is no light at the end of the tunnel, maybe work with the Greens to see what they would approve and go from there. Time is money.

Work with the Greens?

Is that even possible?
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Yeah I'm sure the Greens want to turn it into a Park!
 
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