Brydens Lawyers could buy 50% stake in WT

[jirskyr]

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.

I agree. Uncle Harry, depending on what list you go by, is the 2nd or 3rd richest person in Australia.

BRW states that Harry (3rd) has AUD 4B more than even James Packer (7th), and you can fit a lot of extremely rich persons inside a gap like that.

 

[Tiger_Watto]

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.

last time I checked, some battler called Rupert/Lachlan Murdoch owns 70% of the Brisbane Broncos… I'm not sure were he ranks against old Harry, but I have a strange feeling he might just get him?

 

[diedpretty]

**Wests Ashfield chairman Mike Bailey** said last week no decision had been made on whether they would buy Balmain's 50 per cent share holding if it becomes available and they had yet to hear formally from Balmain about the request to extend the March 31 deadline.
"We have canvassed the idea that that might happen but likewise we also realise that [Balmain] need to talk to us before we can make any further decisions," Bailey said. "At the moment we have no firm plans about exactly what we propose to do because we need to wait and see what happens."

************

Sheez how incompetent does this guy come across…so he can't even develop a Plan A; Plan B; Plan C, etc...great foresight(not)

What are you on about - seems pretty straight forward to me. He is just stating the facts -
A} Wests Ashfield haven't made a decision to buy Balmains share should it become available.
B} Although there are reports Balmain want an extension there has been no approach to Wests Ashfield.
C} Come March 31 they will have a clearer picture of what is happening.

Having said that I would bet any money that there has been a lot decided behind closed doors. What business blurts out what they are going to do before there is actually anything on the table.

 

[diedpretty]

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.

last time I checked, some battler called Rupert/Lachlan Murdoch owns 70% of the Brisbane Broncos… I'm not sure were he ranks against old Harry, but I have a strange feeling he might just get him?

Harry is ranked 2nd richest in Australia. That "charming" woman Gina Rinehart is ranked 1.

 

[Blackpearl]

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.

last time I checked, some battler called Rupert/Lachlan Murdoch owns 70% of the Brisbane Broncos… I'm not sure were he ranks against old Harry, but I have a strange feeling he might just get him?

Harry is ranked 2nd richest in Australia. That "charming" woman Gina Rinehart is ranked 1.

sounds about right
rupert doesn't count anyway, being an american citizen

 

[Tiger_Watto]

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.

last time I checked, some battler called Rupert/Lachlan Murdoch owns 70% of the Brisbane Broncos… I'm not sure were he ranks against old Harry, but I have a strange feeling he might just get him?

Harry is ranked 2nd richest in Australia. That "charming" woman Gina Rinehart is ranked 1.

sounds about right
rupert doesn't count anyway, being an american citizen

I wish I had his 14B dollars!

 

[jirskyr]

last time I checked, some battler called Rupert/Lachlan Murdoch owns 70% of the Brisbane Broncos… I'm not sure were he ranks against old Harry, but I have a strange feeling he might just get him?

Harry is ranked 2nd richest in Australia. That "charming" woman Gina Rinehart is ranked 1.

sounds about right
rupert doesn't count anyway, being an american citizen

I wish I had his 14B dollars!

If I'm not mistaken, Lachlan Murdoch does not own the Broncos, News Ltd does. It would be like Meriton buying WT, rather than Harry T, or Crowne buying into Souths.

News Ltd is not a supporter, it is a business.

And according to the latest figures in Forbes, Rupert Murdoch has a personal fortune of USD 5.3B, whereas as of 2015 Harry T has more - USD 5.6B.

 

[gallagher]

I'd rather one owner than two. Manly were always at war at the board level like us.

 

[Tiger_Watto]

I wish I had his 14B dollars!

If I'm not mistaken, Lachlan Murdoch does not own the Broncos, News Ltd does. It would be like Meriton buying WT, rather than Harry T, or Crowne buying into Souths.

News Ltd is not a supporter, it is a business.

And according to the latest figures in Forbes, Rupert Murdoch has a personal fortune of USD 5.3B, whereas as of 2015 Harry T has more - USD 5.6B.

Unless Rupert has had a bad year, I think that number is way off. On the 2015 list, he was 13.9B.

Brydens Lawyers is also a business

 

[TrueTiger]

I wish I had his 14B dollars!

If I'm not mistaken, Lachlan Murdoch does not own the Broncos, News Ltd does. It would be like Meriton buying WT, rather than Harry T, or Crowne buying into Souths.

News Ltd is not a supporter, it is a business.

And according to the latest figures in Forbes, Rupert Murdoch has a personal fortune of USD 5.3B, whereas as of 2015 Harry T has more - USD 5.6B.

Unless Rupert has had a bad year, I think that number is way off. On the 2015 list, he was 13.9B.

Brydens Lawyers is also a business

It doesnt matter who has the most money….we would still accept some of it,doesnt matter who is putting it up,as long as they have the clubs interest at heart...and the WESTS TIGERS live on....

 

[Tigermama]

Amen to that TT. :supporter:

 

[jirskyr]

I wish I had his 14B dollars!

If I'm not mistaken, Lachlan Murdoch does not own the Broncos, News Ltd does. It would be like Meriton buying WT, rather than Harry T, or Crowne buying into Souths.

News Ltd is not a supporter, it is a business.

And according to the latest figures in Forbes, Rupert Murdoch has a personal fortune of USD 5.3B, whereas as of 2015 Harry T has more - USD 5.6B.

Unless Rupert has had a bad year, I think that number is way off. On the 2015 list, he was 13.9B.

Brydens Lawyers is also a business

I dunno, I find different numbers everywhere I look.

On Uncle Lee, I got the impression he meant a private stake in Tigers, not taking Brydens into that arrangement. He is not the only principal at Brydens.

 

[lathami]

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...

How could anyone in their right mind pay 5 million for 50% of the company, with bills, payments and or other responsibilities. But only have a quarter of the voting on the board????
It is ridiculous financial situation the NRL have put us in!!

 

[gallagher]

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...

How could anyone in their right mind pay 5 million for 50% of the company, with bills, payments and or other responsibilities. But only have a quarter of the voting on the board????
It is ridiculous financial situation the NRL have put us in!!

Balmain put us in this position. They could have handed their seats to wests until they got financial again and then got their seats back. They chose this path.

 

[goldcoast_tiger]

I just hope that this is the end of it all , whatever happens when the deadline arrives.
We don't need last minute dealings to continue the uncertainty around the club,
IF Balmain can come up with the money, then I'll be happy, but if they can't, that's it.
The future is the important thing now. Enough time has been wasted

 

[TrueTiger]

I just hope that this is the end of it all , whatever happens when the deadline arrives.
We don't need last minute dealings to continue the uncertainty around the club,
IF Balmain can come up with the money, then I'll be happy, but if they can't, that's it.
The future is the important thing now. Enough time has been wasted

Well GCT,we can agree on things…I was a dead set Balmain fanatic and I hope all works out for them,however if it doesn't then they go into the history books,as long as the Wests Tigers get stronger on and off the field is all I care about these days...cheers mate...

 

[hammertime]

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...

How could anyone in their right mind pay 5 million for 50% of the company, with bills, payments and or other responsibilities. But only have a quarter of the voting on the board????
It is ridiculous financial situation the NRL have put us in!!

Is that actually the agreement Geo? Its not really common practice to set a price based on debt level.

It's a bit hard to compare us to the bunnies, but Packers buyout valued them at $20mil. They've got a lot more going for them, but that still would have been based on profit potential.

I think we have a lot to offer for any buyer. As soon as we get a ground sorted and the raised grant comes through, we should be turning a profit. Let alone if we start winning games and members start forking out some $'s.

 

[diedpretty]

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...

How could anyone in their right mind pay 5 million for 50% of the company, with bills, payments and or other responsibilities. But only have a quarter of the voting on the board????
It is ridiculous financial situation the NRL have put us in!!

Is that actually the agreement Geo? Its not really common practice to set a price based on debt level.

It's a bit hard to compare us to the bunnies, but Packers buyout valued them at $20mil. They've got a lot more going for them, but that still would have been based on profit potential.

I think we have a lot to offer for any buyer. As soon as we get a ground sorted and the raised grant comes through, we should be turning a profit. Let alone if we start winning games and members start forking out some $'s.

I think Geo is right - its similar to a bank foreclosing on a mortgage - they will take nothing less than what is owed to them and anything over is a bonus. The interesting thing will be if Wests Ashfield don't take up their option to buy. It then becomes a bidding war between interested parties. Wests Ashfield would be crazy not to buy Balmains share as they could get it for a song compared to what it may be worth on the open market.

 

[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?

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.

Of course they're in it to make money. If not, they'd just donate a bucket load and not worry about the visible tags on the shirts. I think its great that theyre keen to be sponsors. I just don't get why one company wants to be a part of numerous teams in the same competition.

 

[diedpretty]

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.

Of course they're in it to make money. If not, they'd just donate a bucket load and not worry about the visible tags on the shirts. I think its great that theyre keen to be sponsors. I just don't get why one company wants to be a part of numerous teams in the same competition.

Saturation marketing. They don't care who they are supporting but their name is on TV a lot.