Brydens Lawyers could buy 50% stake in WT

[GNR4LIFE]

Out of curiosity, with all the fund raising efforts that have been made and are still being made, what happens to all the money raised when Balmain do eventually go under?

 

[Russell]

Out of curiosity, with all the fund raising efforts that have been made and are still being made, what happens to all the money raised when Balmain do eventually go under?

It would stay with Balmain I assume. They still will have a football club and Junior League

 

[Newtown]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

 

[Cultured_Bogan]

$500k in exchange for a seat on the board sounds ok but would the NRL allow that? A club sponsor can't provide third party deals so could a board member provide third party deals?
Harry may have just torpedoed the idea.

Easy enough to use that 500K to buy yourself a voice on the board, i.e. through a stooge.

Board member by proxy.

 

[Cultured_Bogan]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

Hope those four good players currently wear 1, 6, 7 & 9.

 

[GNR4LIFE]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

I read the full article and one thing that stuck out like a sore thumb is how clueless he is about the game. He had no idea who these "four players" were but was told they were good so he takes their word for it. From everything I've heard about the guy he seems healthy of mind so I mean no disrespect. But the way I read that article, it read almost like the club was just looking to take advantage of a wealthy old man who is losing it. Especially by bringing Woodsy into it. That's pretty poor by the club IMO.

 

[hammertime]

He does sound a little naive. I like the guy and his hard simplistic business nous. He plays emotionally indifferent to a scenario so he gets what he wants. This doesn't really work well in a mostly philanthropic situation like this, but I don't think he can stop himself from trying. He certainly doesn't get how a TPA works.

I hope the media stay away from him in the future.

 

[Abraham]

Harry has said in the past we wont buy out the club, so I don't see why anyone would expect him to change his mind now.

The principal at Brydens however have said he was interested, and apparently Mr Jaycar too (although I have only seen that mentioned on these forums). So there may be other options for Balmain, but they sure as hell better get a move on.

In any case, I would rather Harry tip in cash to sign/re-sign some quality players than be hamstrung from doing so as an owner.

 

[sunshine_coast_tiger]

Harry has said in the past we wont buy out the club, so I don't see why anyone would expect him to change his mind now.

The principal at Brydens however have said he was interested, and apparently Mr Jaycar too (although I have only seen that mentioned on these forums). So there may be other options for Balmain, but they sure as hell better get a move on.

In any case, I would rather Harry tip in cash to sign/re-sign some quality players than be hamstrung from doing so as an owner.

I think if Harry T is not a sponsor or owner he can use Merition to pay players almost unlimited money in TPA's. A lot of people here think that TPA's are capped and they are very wrong (the NRL salary cap is in no way a level playing field).

TPA's are capped to a certain level companies associated with the club ie current sponsors and their associated companies (Storm and Bulldogs found this out the hard way). Parties not associated with the clubs can provide unlimited TPA's money but has to be registered and approved by the NRL (since it would be a restraint of trade not to approve it I doubt the NRL do anything but rubber stamp this money). This non club associated TPA money was in excess of $15 million dollars above the Salary Cap last year (when you think about this some of the strong clubs are using this lope-hole and are probably paying their roster $2-$4 million a year above the cap).

This is where the Tigers can use a person like Harry T the best, get him to give star players a large amount of TPA money, put their contract money in at lower under the salary cap and have the money saved under the salary cap as available to use on other players in the top squad (Souths are doing this big time with Sam Burgess new contract, he is under the salary cap at an amount well below what he is getting paid and the remaining money is by way of TPAs).

Here is the link to the salary cap on the NRL website:

https://www.nrl.com/nrlhq/referencecentre/salarycap/tabid/10434/default.aspx

 

[sunshine_coast_tiger]

Why was my post moved into a thread about Brydens Lawyers when it was an article about Harry Triguboff and the most interesting part of it was the 600k in third party agreements

This was the most interesting part, the reality is this amount would look like small change compared to what some of the other clubs have in Third Party Agreements with companies not associated with the club (same position Merition is in currently). The Broncos even have a group "The Thoroughbreds" set up (is at arms length away from the club) to source Third Party Agreement money for Broncos Players.

 

[Bones]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

I read the full article and one thing that stuck out like a sore thumb is how clueless he is about the game. He had no idea who these "four players" were but was told they were good so he takes their word for it. From everything I've heard about the guy he seems healthy of mind so I mean no disrespect. But the way I read that article, it read almost like the club was just looking to take advantage of a wealthy old man who is losing it. Especially by bringing Woodsy into it. That's pretty poor by the club IMO.

Maybe he just trusts that they know the game better than he does. He also understands that he has what they need, money.

 

[Tony33]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

I read the full article and one thing that stuck out like a sore thumb is how clueless he is about the game. He had no idea who these "four players" were but was told they were good so he takes their word for it. From everything I've heard about the guy he seems healthy of mind so I mean no disrespect. But the way I read that article, it read almost like the club was just looking to take advantage of a wealthy old man who is losing it. Especially by bringing Woodsy into it. That's pretty poor by the club IMO.

Maybe he's lost interest in the modern game since he spends most of his time counting his money these days. It's good that he still has that lingering passion for the club, because out of all the clubs in the NRL no one needs it more then us.

I can't see his knowledge of the game getting any better in the near future with the approval of 5000 units to be built in Sydney alone. How is he going to count all that money ?

It's not hard to see how little a club is asking of someone of his wealth. $500,000 is literally 1 unit's profit, which leaves him with 4999 units. I don't think he cares GNR.

 

[Hbom]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

I read the full article and one thing that stuck out like a sore thumb is how clueless he is about the game. He had no idea who these "four players" were but was told they were good so he takes their word for it. From everything I've heard about the guy he seems healthy of mind so I mean no disrespect. But the way I read that article, it read almost like the club was just looking to take advantage of a wealthy old man who is losing it. Especially by bringing Woodsy into it. That's pretty poor by the club IMO.

Maybe he's lost interest in the modern game since he spends most of his time counting his money these days. It's good that he still has that lingering passion for the club, because out of all the clubs in the NRL no one needs it more then us.

I can't see his knowledge of the game getting any better in the near future with the approval of 5000 units to be built in Sydney alone. How is he going to count all that money ?

It's not hard to see how little a club is asking of someone of his wealth. $500,000 is literally 1 unit's profit, which leaves him with 4999 units. I don't think he cares GNR.

I know someone who works for Harry. I think what we see with the 4 players comment is a reflection of Harry's business style. I was told that the way he operates in business is to look people in the eye, decide whether they know what they are doing and back or dismiss them accordingly. As a fan, I am sure he would want to know who the players are, but in making the decision he would leave weighing up their qualities to the experts.

 

[jirskyr]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

I read the full article and one thing that stuck out like a sore thumb is how clueless he is about the game. He had no idea who these "four players" were but was told they were good so he takes their word for it. From everything I've heard about the guy he seems healthy of mind so I mean no disrespect. But the way I read that article, it read almost like the club was just looking to take advantage of a wealthy old man who is losing it. Especially by bringing Woodsy into it. That's pretty poor by the club IMO.

Maybe he's lost interest in the modern game since he spends most of his time counting his money these days. It's good that he still has that lingering passion for the club, because out of all the clubs in the NRL no one needs it more then us.

I can't see his knowledge of the game getting any better in the near future with the approval of 5000 units to be built in Sydney alone. How is he going to count all that money ?

It's not hard to see how little a club is asking of someone of his wealth. $500,000 is literally 1 unit's profit, which leaves him with 4999 units. I don't think he cares GNR.

I dunno I think it's hard to make too much comment without knowing Harry T personally.

The article doesn't say anywhere that he didn't know who the 4 players were, he just doesn't name anyone bar Woods. His comment is that he trusts the club in where his money should go, i.e. he's not calling the shots which players to sign or re-sign.

My take is he just isn't a detailed analyst of the game. He probably watches games, wants us to win, wants to hear about us winning if he missed a game. Does he watch non-Tigers games? Probably not much. Does he discuss the players and the gameplans with his family and friends? Does he read the forum or pick up the paper on Wed morning eager to see which team we've named?

I'd wager he's too busy with his company to invest heavily in following the game. I know people who are the same, they care about the club and watch matches where they can, but it's not the same priority as pretty much anyone on this forum.

I mean many of us want to talk about Tigers 7 days a week even in the pre-season; for others it's enough to watch 80 mins or so a week.

Harry is an octogenarian and a serious businessman, very different from your 30-40 year old punter and radically different from your 20 year old follower.

But we can't say he is naive, he knows about the club politics and he can name the new CEO for example, so he's obviously talked to him. How many Tigers fans can actually say they've talked to Pascoe or Marina Go? How many casual Tigers fans could even name the CEO or Chair?

So I think Harry T cares, enough to spend lots of money over several decades. But he cares in terms of seeing the team win on the field, less about politics and game plans and strategies. He wants to read the paper and see his team at the top of the table. He's clearly extremely busy and I'd challenge anyone with that kind of commitment to personal business to have much spare time for rugby league once work and family/friends are attended to.

He's not Rusty Crowe, he's not Marwan Koukash, and he's not that Mourad Boudjellal fellow who runs Toulon rugby. He's more your James Packer type funder, giving money but not getting overly involved.

Myself I'm just thankful he is there at all. Who do we approach for TPAs if Harry T is not around? How much coin does Murray from the Wiggles have?

 

[Tony33]

“I spoke with them,” said Triguboff, founder and managing director of Meriton Apartments. “They wanted money to buy four good players and I told them I would help."

This is by far the best option for the Wests Tigers Club. At last the club has a sponsor who can provide the much need TPA's which other clubs have but Wests Tigers could only dream of.

I read the full article and one thing that stuck out like a sore thumb is how clueless he is about the game. He had no idea who these "four players" were but was told they were good so he takes their word for it. From everything I've heard about the guy he seems healthy of mind so I mean no disrespect. But the way I read that article, it read almost like the club was just looking to take advantage of a wealthy old man who is losing it. Especially by bringing Woodsy into it. That's pretty poor by the club IMO.

Maybe he's lost interest in the modern game since he spends most of his time counting his money these days. It's good that he still has that lingering passion for the club, because out of all the clubs in the NRL no one needs it more then us.

I can't see his knowledge of the game getting any better in the near future with the approval of 5000 units to be built in Sydney alone. How is he going to count all that money ?

It's not hard to see how little a club is asking of someone of his wealth. $500,000 is literally 1 unit's profit, which leaves him with 4999 units. I don't think he cares GNR.

I dunno I think it's hard to make too much comment without knowing Harry T personally.

The article doesn't say anywhere that he didn't know who the 4 players were, he just doesn't name anyone bar Woods. His comment is that he trusts the club in where his money should go, i.e. he's not calling the shots which players to sign or re-sign.

My take is he just isn't a detailed analyst of the game. He probably watches games, wants us to win, wants to hear about us winning if he missed a game. Does he watch non-Tigers games? Probably not much. Does he discuss the players and the gameplans with his family and friends? Does he read the forum or pick up the paper on Wed morning eager to see which team we've named?

I'd wager he's too busy with his company to invest heavily in following the game. I know people who are the same, they care about the club and watch matches where they can, but it's not the same priority as pretty much anyone on this forum.

I mean many of us want to talk about Tigers 7 days a week even in the pre-season; for others it's enough to watch 80 mins or so a week.

Harry is an octogenarian and a serious businessman, very different from your 30-40 year old punter and radically different from your 20 year old follower.

But we can't say he is naive, he knows about the club politics and he can name the new CEO for example, so he's obviously talked to him. How many Tigers fans can actually say they've talked to Pascoe or Marina Go? How many casual Tigers fans could even name the CEO or Chair?

So I think Harry T cares, enough to spend lots of money over several decades. But he cares in terms of seeing the team win on the field, less about politics and game plans and strategies. He wants to read the paper and see his team at the top of the table. He's clearly extremely busy and I'd challenge anyone with that kind of commitment to personal business to have much spare time for rugby league once work and family/friends are attended to.

Myself I'm just thankful he is there at all. Who do we approach for TPAs if Harry T is not around? How much coin does Murray from the Wiggles have?

Mate anyone who knows Harry even the slightest knows he isn't naive and/or clueless when it comes to money. He knows exactly what he is doing even though he doesn't come across that way.

I don't know Harry personally but my family have dealt with him a few times (being in the building game) and he is one of the most powerful men in the country. Without going into to much detail I have seen first hand how powerful and smart a man he is.

 

[Geo]

Wests Tigers CEO Reveals Financial Status Of The Club

Wests Tigers CEO Justin Pascoe has confirmed that the club's $5.4 million debt to the NRL can be called in 11 days, and whoever buys out the debt will have 50 per cent ownership of the club.

Speaking exclusively to Sunday Triple M NRL, Pascoe assured fans that this would not change the brand at all, and the club is hoping to have the issue resolved before the call date for the debt on 31 March.

Rumours have spread that the Wests part of the joint venture may buy out the club, but an agreement in the constitution of the joint venure ensures that the club retains the identity of both entities. Listen to Justin Pascoe's interview below.

http://www.triplem.com.au/sydney/sport/nrl/news/2016/3/justin-pascoe-says-wests-tigers-5.4-million-debt-will-be-resolved-in-11-days

Great interview ..dispelling the Myths ….

Also From Wests Ashfield AGM News - Wests Ashfield wont be taking up their first option to buy Balmains share in Wests Tigers.

 

[boonboon]

It was interesting that Pascoe said their were a couple of parties in disussion and assuming that isn't including Wests Ashfield so who knows who will own the other 50% in a few weeks time

 

[Patts]

Do Wests Ashfield have first and last option to buy Balmains share or just the first?

 

[krayola]

$5.4 million is a lot to most but not that much in this day and age. Surely someone or a group with ties to Balmain will find the cash. Hard to imagine Balmain actually being no more!

 

[Go_Moltzen]

IMO only seems Wests Ashfield preference is to remain as a half owner with Brydens Lawyers the likeliest new partner. Not sure of any ramifications re: Brydens sponsorship of other NRL teams Penrith Panthers, Canterbury-Bankstown Bulldogs, Sydney Roosters and Newcastle Knights. If these non Wests Tigers sponsorhip agreements are for 2016 only there would be no conflict of interest following this season.