Brydens Lawyers could buy 50% stake in WT

[Abraham]

If a private buyer does come to the party this really could be the turning point the club needs to finally be financial and moving forward to a new era that would include new facilities and finally a home ground and area to call home ,this is positive news ! :sign:

That's the dream !

However if the private buyer ends up being a pig-headed A-Hole (as many wealthy and successful businessmen happen to be), and doesn't see eye to eye with Ashfield, we are back to square one.

I'm an eternal pessimist I know, but it comes with the turf when you're a Tigers supporter.

 

[happy_tiger]

If a private buyer does come to the party this really could be the turning point the club needs to finally be financial and moving forward to a new era that would include new facilities and finally a home ground and area to call home ,this is positive news ! :sign:

That's the dream !

However if the private buyer ends up being a pig-headed A-Hole (as many wealthy and successful businessmen happen to be), and doesn't see eye to eye with Ashfield, we are back to square one.

I'm an eternal pessimist I know, but it comes with the turf when you're a Tigers supporter.

The biggest problem is private investors (whether fans or not ) want to see profits and as we have seen only 3/16 clubs turn profits

You can't cut corners when building a rugby league playing roster

 

[Doc_Tiger]

With this guy, Harry T and the Jaycar guy, we really have some wealthy supporters.

Probably the wealthiest support group in the league. But doesn't seem to do Balmain much good. Quite staggering really.

On another note, am I the only one thats uneasy about a sponsor who's associated with others within the game? I mean, supporters of 5 clubs? Where do loyalties lie?

The Broncos Thoroughbreds would easily have them covered plus some WD

Are you kidding me? Harry has numbers of $4 billion US, who do they have? The fact that our supporters have so much yet won't bail the club out with what in effect would be pocket change to them, well I just can't get my head around that. It's obvious that clubs need cash to succeed, but aside from major sponsorship, (which is great) we can't attract anything.

 

[supercoach]

Interesting that there are a few people interested in buying into our club if Balmain go belly up. In the past putting money into a NRL team was just a way to throw away lots of money and maybe get a tax write off. Now with the TV rights bonanza there must be a real chance to make some money on your investment and in the process get wonderful exposure for your business. Certainly this should put to bed a lot of the gloom and doom pedlars .

 

[Abraham]

The biggest problem is private investors (whether fans or not ) want to see profits and as we have seen only 3/16 clubs turn profits

You can't cut corners when building a rugby league playing roster

I think most guys would know that buying into an NRL Franchise is more of a labour of love than a serious money making endeavour.

Problem is that rich powerful guys tend to also have powerful egos (holmes-a- court and rusty didn't last long as co-owners) and getting things to gel between partners could be an issue.

That another reason why I think Ashfield will end up going it alone.

Hopefully all parties take their time on this matter and come to the right decision.

 

[hammertime]

I still feel that Ashfield will end up buying the remaining 50%.

Their denials are probably more so to do with not rocking the boat with Balmain until things are finalised with the nrl. Plus, it wouldn't b a good look to be appear to be dancing on the grave of your partner while they struggle for survival.

Just my gut feeling anyway.

I'd be interested how this all works. Surely wests would at a minimum match any private offer put forward. Is there a set price? I. E. They couldn't come in and buy it for a $1, when someone is prepared to pay $1mil.

I would have thought that they simply have the first right of refusal.

 

[supercoach]

The biggest problem is private investors (whether fans or not ) want to see profits and as we have seen only 3/16 clubs turn profits

You can't cut corners when building a rugby league playing roster

I think most guys would know that buying into an NRL Franchise is more of a labour of love than a serious money making endeavour.

Problem is that rich powerful guys tend to also have powerful egos (holmes-a- court and rusty didn't last long as co-owners) and getting things to gel between partners could be an issue.

That another reason why I think Ashfield will end up going it alone.

Hopefully all parties take their time on this matter and come to the right decision.

I think reading between the lines Wests would be happy to have a partner rather than go alone. I just get the feeling that Wests do not want hold 100% of the club for what ever reason. I could be a 100% wrong, but by having a partner you share the exposure to any disasters and of course you share the costs,profits and loses. Of course time will tell and I would imagine all parties are playing their cards close to their chest because it is almost certain Balmain will default

 

[Cultured_Bogan]

Having a law firm would probably come in handy for TPA's. They deal with some seriously rich people.

 

[cat-party]

Cant wait to be the Brydens Lawyers Wests Tigers!

 

[gallagher]

I still feel that Ashfield will end up buying the remaining 50%.

Their denials are probably more so to do with not rocking the boat with Balmain until things are finalised with the nrl. Plus, it wouldn't b a good look to be appear to be dancing on the grave of your partner while they struggle for survival.

Just my gut feeling anyway.

Yes i agree. I'm sure theit plans are well advanced. He probably being tactful and respectful to balmain. You don't need to spill everything to a journalist just because he asked you a question.

 

[hammertime]

I think most guys would know that buying into an NRL Franchise is more of a labour of love than a serious money making endeavour.

Problem is that rich powerful guys tend to also have powerful egos (holmes-a- court and rusty didn't last long as co-owners) and getting things to gel between partners could be an issue.

That another reason why I think Ashfield will end up going it alone.

Hopefully all parties take their time on this matter and come to the right decision.

Yeah, there certainly is no silver bullet. But the ego's somewhat will be already checked as any purchaser knows they are only going to have 2/7 board seats. That's a key tidbit that I think will assist with us going forward.

We've seen 50/50 splits (souths), 100% ownership (knights) fail. This won't be that.

If we get a private purchaser for Balmain, we'll have a fantastic mix. 5/7 of the board will be private business people, we'll have a heritage voice with Wests who at the moment seem like great guys and we have a majority contingent as independent reps from the NRL.

I don't want 1 party owning the club. It hasn't worked previously and I don't think it will work again. While I think Simon Cook is a good operator, it's only a matter of time before you might get a bad one, or a faction from the leagues club rise to the top. It can be rife with politics.

 

[Russell]

With this guy, Harry T and the Jaycar guy, we really have some wealthy supporters.

Probably the wealthiest support group in the league. But doesn't seem to do Balmain much good. Quite staggering really.

On another note, am I the only one thats uneasy about a sponsor who's associated with others within the game? I mean, supporters of 5 clubs? Where do loyalties lie?

WD It's a law firm, what do you expect :laughing: Their interest and loyalty lies in the mighty $$$$…

One of the few positive stories to come out of the Wests Tigers for years and you are negative about Brydon's wanting to help out.

They are not in it to make money, that is for sure.

What do you think they will get out of it Tigermama?

The only thing they will get out of it is publicity and they already get that from being the major sponsor. So they would get nothing further from being a 50% owner (maybe a little more say at board level) than they do now.

He is anticipating doing it because he is passionate about the club - I am sure if this 50% buy took place he would drop the other sponsorships at the first opportunity. Millions of dollars makes him seem pretty loyal to me but lets cast a dispersion over Brydon's loyalty. Don't know why they even bother.

 

[Winnipeg]

Are you kidding me? Harry has numbers of $4 billion US, who do they have? The fact that our supporters have so much yet won't bail the club out with what in effect would be pocket change to them, well I just can't get my head around that. It's obvious that clubs need cash to succeed, but aside from major sponsorship, (which is great) we can't attract anything.

I'm guessing Lachlan Murdoch is involved in the Thoroughbreds in some way…

James Packer on board at Souffs would also put them up there (as well as Rusty's mates like Tom Cruise and Snoop Dogg, though they don't seem to attend many games :laughing: )

 

[Tigermama]

With this guy, Harry T and the Jaycar guy, we really have some wealthy supporters.

Probably the wealthiest support group in the league. But doesn't seem to do Balmain much good. Quite staggering really.

On another note, am I the only one thats uneasy about a sponsor who's associated with others within the game? I mean, supporters of 5 clubs? Where do loyalties lie?

WD It's a law firm, what do you expect :laughing: Their interest and loyalty lies in the mighty $$$$…

One of the few positive stories to come out of the Wests Tigers for years and you are negative about Brydon's wanting to help out.

They are not in it to make money, that is for sure.

What do you think they will get out of it Tigermama?

Lol…Calm down Russ. Big breaths.. It was a "Tongue in cheek" comment. Lighten up.
The only thing they will get out of it is publicity and they already get that from being the major sponsor. So they would get nothing further from being a 50% owner (maybe a little more say at board level) than they do now.

He is anticipating doing it because he is passionate about the club - I am sure if this 50% buy took place he would drop the other sponsorships at the first opportunity. Millions of dollars makes him seem pretty loyal to me but lets cast a dispersion over Brydon's loyalty. Don't know why they even bother.

 

[Tigermama]

With this guy, Harry T and the Jaycar guy, we really have some wealthy supporters.

Probably the wealthiest support group in the league. But doesn't seem to do Balmain much good. Quite staggering really.

On another note, am I the only one thats uneasy about a sponsor who's associated with others within the game? I mean, supporters of 5 clubs? Where do loyalties lie?

WD It's a law firm, what do you expect :laughing: Their interest and loyalty lies in the mighty $$$$…

One of the few positive stories to come out of the Wests Tigers for years and you are negative about Brydon's wanting to help out.

They are not in it to make money, that is for sure.

What do you think they will get out of it Tigermama?

The only thing they will get out of it is publicity and they already get that from being the major sponsor. So they would get nothing further from being a 50% owner (maybe a little more say at board level) than they do now.

He is anticipating doing it because he is passionate about the club - I am sure if this 50% buy took place he would drop the other sponsorships at the first opportunity. Millions of dollars makes him seem pretty loyal to me but lets cast a dispersion over Brydon's loyalty. Don't know why they even bother.

Lol, Russ. Calm down. Need to take deep breaths. :laughing: it was a " Tongue in Cheek" comment.
Glad they're aboard.

 

[Cultured_Bogan]

With this guy, Harry T and the Jaycar guy, we really have some wealthy supporters.

Probably the wealthiest support group in the league. But doesn't seem to do Balmain much good. Quite staggering really.

On another note, am I the only one thats uneasy about a sponsor who's associated with others within the game? I mean, supporters of 5 clubs? Where do loyalties lie?

WD It's a law firm, what do you expect :laughing: Their interest and loyalty lies in the mighty $$$$…

One of the few positive stories to come out of the Wests Tigers for years and you are negative about Brydon's wanting to help out.

They are not in it to make money, that is for sure.

What do you think they will get out of it Tigermama?

The only thing they will get out of it is publicity and they already get that from being the major sponsor. So they would get nothing further from being a 50% owner (maybe a little more say at board level) than they do now.

He is anticipating doing it because he is passionate about the club - I am sure if this 50% buy took place he would drop the other sponsorships at the first opportunity. Millions of dollars makes him seem pretty loyal to me but lets cast a dispersion over Brydon's loyalty. Don't know why they even bother.

I don't know why anyone would bother putting their hand up for this, they're on a hiding to nothing. Harry poured money in as a sponsor and hung on when no one when else would stump up, but gets pumped for not buying Balmain outright. This fella took over the sponsorship and voiced interest to buy Balmain's share and some are asking what's in it for him other than financial gain.

While I agree with Abe, Gallagher and Hammertime that Ashfield are probably biding their time in tasteful respect to Balmain, on the off chance that they don't have interest in the other 50% shouldn't we be grateful to whomever stands in to buy out Balmain in order to maintain continuity and secure our immediate financial future?

 

[Aubanon]

Ideal scenario would be;

- Place Balmain RLFC into Administration
- Brydens to buy the club on the proviso that the NRL debt will be covered
- Balmain RLFC becomes privatised
- Balmain & Wests can revert to previous ownership (Albeit with Balmain in private hands)

Thoughts?

 

[Abraham]

Ideal scenario would be;

- Place Balmain RLFC into Administration
- Brydens to buy the club on the proviso that the NRL debt will be covered
- Balmain RLFC becomes privatised
- Balmain & Wests can revert to previous ownership (Albeit with Balmain in private hands)

Thoughts?

That would be a great outcome, but would depend on whether the Loan Agreement Balmain signed with the NRL.

You would think that with Brydens coming to the Wests Tigers via Balmain, that Leslie Glen would be making this expect same proposal to him.

Semantics I know, but would still be nice for Balmain to survive this and kick on as an active contributor to WT.

 

[Abraham]

I still feel that Ashfield will end up buying the remaining 50%.

Their denials are probably more so to do with not rocking the boat with Balmain until things are finalised with the nrl. Plus, it wouldn't b a good look to be appear to be dancing on the grave of your partner while they struggle for survival.

Just my gut feeling anyway.

I'd be interested how this all works. Surely wests would at a minimum match any private offer put forward. Is there a set price? I. E. They couldn't come in and buy it for a $1, when someone is prepared to pay $1mil.

I would have thought that they simply have the first right of refusal.

You would think that's how it works.

Maybe we need to refer to the mysterious JV Agreement for confirmation.

 

[Geo]

Balmain's shareholding value would be any outstanding debt in Wests Tigers..currently $5M owed to the NRL and a form of 'Goodwill' value yet to be determined…Investors would then get the 2 seats on the Board plus the on-going responsibility of covering 50% of the operating losses of the Wests Tigers from Year to Year...

I would not expect them to go into it to make a profit.....initially..more exposure than anything else....With NRL funding increases and the like that may change...