Joe_s_Tigers
Member
http://bit.ly/1SRWzsT
Sounds interesting.
Sounds interesting.
Brydens Lawyers could buy 50% stake in WT
- Thread starter Joe_s_Tigers
- Start date
swag_tiger
Well-known member
Hopefully we will be able to get more money to sign big name plays ( not pay them overs).
Full article…
Wests Tigers' major sponsor interested in buying stake in NRL franchise
Date February 17, 2016 - 7:30PM
Chris Barrett
Sports Writer
The major sponsor of Wests Tigers has revealed an interest in buying a stake in the NRL club in a development that paints the clearest picture yet of what the Sydney franchise's ownership structure will look like beyond next month.
Lee Hagipantelis, the principal of Brydens Lawyers, told Fairfax Media on Wednesday he would seriously consider the prospect of purchasing a share in the Tigers if, as expected, 50 per cent of the franchise is placed on the market in April.
Balmain's half share of the team will go up for sale then should they be unable to meet an obligation to repay $5 million in debt to the NRL, which has covered their bills for the past two years, by March 31.
Co-owners Wests Ashfield would have the first option to buy Balmain's stake but it is believed they are reluctant to take full ownership of the team, opening the door for a figure like Hagipantelis to become the NRL's latest private part-owner.
His firm last year took out a rich three-year sponsorship deal with Wests Tigers but Hagipantelis, a Balmain fan since his childhood on the Central Coast, is eager to extend the association.
"I am cognisant of the issues and I am of course appreciative of the brand and the importance of maintaining the heritage that Wests Tigers has with its stakeholders, being Balmain and Western Suburbs, and I think it would be an attractive opportunity to any so-minded investor," he said.
"Any organisation that has invested heavily into the Wests Tigers would have an interest in making sure of or securing the continued viability of the Wests Tigers and its stakeholders.
"If it does go on the open market I think it would be remiss not to look into furthering our investment."
As the principal of what claims to be the largest litigation firm in NSW, Hagipantelis shapes as the kind of backer that could help take the Tigers to the next level as an organisation.
Cash-strapped due to Balmain's woes the team's facilities at their Concord Oval base are sub-standard when measured against most of their NRL rivals and pale in comparison to the state-of-the-art set-ups of clubs such as Canterbury.
For Hagipantelis, buying into the Tigers would be part business decision, part passion project.
He has positioned Brydens as a growing player in league circles; the firm sponsors five clubs and last week announced a two-year deal with the NSWRL's respect for referees program.
His heart lies with the Tigers, however.
"We've invested very heavily in the NRL ... we're sponsors of Penrith, the Bulldogs, Newcastle Knights as of last week. We have a sponsorship arrangement with them but there is no doubt there is a very large personal investment in the Tigers," he said.
"To be able to affix your name and your business with the club that you actually support is pretty special."
Unable to repay their debts Balmain have pinned their hopes on being granted a year-long extension by Wests Ashfield and the NRL. That will almost certainly not happen but Wests have already stressed there will be no change to the team's name, colour or logos with Balmain dropping out and Hagipantelis believes preserving the heritage of the foundation club is important.
"My impression from discussions with the Wests representatives is that they acknowledge the importance of the Balmain heritage remaining," he said.
"A significant portion of Wests Tigers fans today would not know of Balmain or Western Suburbs, they just support Wests Tigers. Issues between Balmain and Western Suburbs are historical, but this is a club which has 200 years of league history coursing through its veins."
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."
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Read more: http://www.smh.com.au/rugby-league/wests-tigers/wests-tigers-major-sponsor-interested-in-buying-stake-in-nrl-franchise-20160217-gmwn4t.html?&utm_source=social&utm_medium=twitter&utm_campaign=nc&eid=socialn:twi-14omn0015-optim-nnn:nonpaid-27/06/2014-social_traffic-all-organicpost-nnn-smh-o&campaign_code=nocode&promote_channel=social_twitter#ixzz40QDFNItV
Follow us: @smh on Twitter | sydneymorningherald on Facebook
Wests Tigers' major sponsor interested in buying stake in NRL franchise
Date February 17, 2016 - 7:30PM
Chris Barrett
Sports Writer
The major sponsor of Wests Tigers has revealed an interest in buying a stake in the NRL club in a development that paints the clearest picture yet of what the Sydney franchise's ownership structure will look like beyond next month.
Lee Hagipantelis, the principal of Brydens Lawyers, told Fairfax Media on Wednesday he would seriously consider the prospect of purchasing a share in the Tigers if, as expected, 50 per cent of the franchise is placed on the market in April.
Balmain's half share of the team will go up for sale then should they be unable to meet an obligation to repay $5 million in debt to the NRL, which has covered their bills for the past two years, by March 31.
Co-owners Wests Ashfield would have the first option to buy Balmain's stake but it is believed they are reluctant to take full ownership of the team, opening the door for a figure like Hagipantelis to become the NRL's latest private part-owner.
His firm last year took out a rich three-year sponsorship deal with Wests Tigers but Hagipantelis, a Balmain fan since his childhood on the Central Coast, is eager to extend the association.
"I am cognisant of the issues and I am of course appreciative of the brand and the importance of maintaining the heritage that Wests Tigers has with its stakeholders, being Balmain and Western Suburbs, and I think it would be an attractive opportunity to any so-minded investor," he said.
"Any organisation that has invested heavily into the Wests Tigers would have an interest in making sure of or securing the continued viability of the Wests Tigers and its stakeholders.
"If it does go on the open market I think it would be remiss not to look into furthering our investment."
As the principal of what claims to be the largest litigation firm in NSW, Hagipantelis shapes as the kind of backer that could help take the Tigers to the next level as an organisation.
Cash-strapped due to Balmain's woes the team's facilities at their Concord Oval base are sub-standard when measured against most of their NRL rivals and pale in comparison to the state-of-the-art set-ups of clubs such as Canterbury.
For Hagipantelis, buying into the Tigers would be part business decision, part passion project.
He has positioned Brydens as a growing player in league circles; the firm sponsors five clubs and last week announced a two-year deal with the NSWRL's respect for referees program.
His heart lies with the Tigers, however.
"We've invested very heavily in the NRL ... we're sponsors of Penrith, the Bulldogs, Newcastle Knights as of last week. We have a sponsorship arrangement with them but there is no doubt there is a very large personal investment in the Tigers," he said.
"To be able to affix your name and your business with the club that you actually support is pretty special."
Unable to repay their debts Balmain have pinned their hopes on being granted a year-long extension by Wests Ashfield and the NRL. That will almost certainly not happen but Wests have already stressed there will be no change to the team's name, colour or logos with Balmain dropping out and Hagipantelis believes preserving the heritage of the foundation club is important.
"My impression from discussions with the Wests representatives is that they acknowledge the importance of the Balmain heritage remaining," he said.
"A significant portion of Wests Tigers fans today would not know of Balmain or Western Suburbs, they just support Wests Tigers. Issues between Balmain and Western Suburbs are historical, but this is a club which has 200 years of league history coursing through its veins."
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."
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Read more: http://www.smh.com.au/rugby-league/wests-tigers/wests-tigers-major-sponsor-interested-in-buying-stake-in-nrl-franchise-20160217-gmwn4t.html?&utm_source=social&utm_medium=twitter&utm_campaign=nc&eid=socialn:twi-14omn0015-optim-nnn:nonpaid-27/06/2014-social_traffic-all-organicpost-nnn-smh-o&campaign_code=nocode&promote_channel=social_twitter#ixzz40QDFNItV
Follow us: @smh on Twitter | sydneymorningherald on Facebook
**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."
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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)
"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."
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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)
gallagher
Well-known member
With this guy, Harry T and the Jaycar guy, we really have some wealthy supporters.
@gallagher said:
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?
gallagher
Well-known member
@wd in perth said:
Yeah. Huge failure from the club in fully engaging these guys. Better late than never i guess.
@gallagher said:
Not really on the Ownership side of things there is not much the Club could do until March 31…Bryden's did sign the richest front of jersey sponsorship in the Clubs history last year...Gary Johnston from Jaycar despite his bleetings a while back is also interested in part ownership I have heard...so it's interesting times ahead...
Harry I believe has put his cue in the rack...
gallagher
Well-known member
@Geo. said:
Wasn't really talking about ownership, more sponsorship. Imaging if all three of these guys were financially involved from day one. Especially when they were pumping money into other clubs.
Tigerdave
Well-known member
Interesting, but nothing will be happening until after March….........bit of positive news nonetheless.
innsaneink
Well-known member
@tigerap said:
Do you waste your time working on things that might not even happen?
Highly unproductive… Much like your post.
I doubt anything really will come of this... Though I wouldn't be against it if it did
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.
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.
happy_tiger
Well-known member
@wd in perth said:
The Broncos Thoroughbreds would easily have them covered plus some WD
goldcoast_tiger
New member
@tigerap said:
There's no way that the club would be saying much at this time about what plans there are anyway.
But I would be surprised if there weren't plenty of discussion about the prospects for the club after Balmain have dropped out.
Wests have said nothing much throughout this whole time, and that's how it should have been.
We'll find out soon enough.
So the Weststigers are not as undesirable as many here would admit ! Seems many smart operators see the up side, benefits and exposure that a sporting club can give you in 2 countries .This now leaves Balmain in a no win situation as there are buyers
wanting to buy them out ,can not see the NRL extending loans for years to come when there money can be repaid immediately by other sources .
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:
wanting to buy them out ,can not see the NRL extending loans for years to come when there money can be repaid immediately by other sources .
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:
