Brydens Lawyers could buy 50% stake in WT

@Geo. said:
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.
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From what I understand if no one takes up the offer after 6 months Wests Ashfield are obliged to pay the debt and take full control. This is because WA are guarantors of Balmains loan from the NRL. I don't think Wests Ashfield want to be involved at all as they have other large business commitments over the next few years and I wouldn't be surprised if no one buys Balmain's share that WA default on the guarantee meaning WT licence goes back to the NRL lock stock and barrel for them to do whatever they like with it.
 
@jirskyr said:
@Tony33 said:
@GNR4LIFE said:
@Newtown said:
“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?
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Good post Jirskyr.
 
@diedpretty said:
@Geo. said:
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.

From what I understand if no one takes up the offer after 6 months Wests Ashfield are obliged to pay the debt and take full control. This is because WA are guarantors of Balmains loan from the NRL. I don't think Wests Ashfield want to be involved at all as they have other large business commitments over the next few years and I wouldn't be surprised if no one buys Balmain's share that WA default on the guarantee meaning WT licence goes back to the NRL lock stock and barrel for them to do whatever they like with it.
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Something tells me that won't happen…A buyer will be found and with Wests wealth and an Independent investor committed to the Wests Tigers the future will be secured for a while to come....certainly will be in a better position to finally move forward than we have for the past 4 years or so.....
 
Does the principal of Brydens have a long time affiliation with either Balmain or the Wests Tigers? That's the only reason I could think they would want to buy in. If I was a "multi" and I wanted an NRL club to buy into, I think I would want some control. Buying 50% of a club just buys you future conflict. Sorry if that sounds negative but history suggests that's what would happen.
Yes they could retain the 3 independents but then that means they are buying half a club to get 2 seats at a 7 seat table. The NRL forced the governance change to incl 3 independents but I think they will be gone once the NRL gets their money back.
 
@Geo. said:
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.
Click to expand...

Hats off to Wests Ashfield for do in the right thing here for the club to be successful rather than an emotional buyout. Their two board members seem great and will be a fantastic voice for heritage and our direction into the future.

:master: :sign:
 
Not sure if anyone else heard but on the Rush Hour tonight Brent Read was on saying that the owner of Bryden's has officially submitted an offer to purchase a 50% share of the Wests Tigers.

He says he was still awaiting a reply from the NRL (although i wouldn't have thought it is the NRL's to sell just yet).
 
I hope they do buy half its a positive move for the wears tigers as a whole imo with business people running/have a say for the club - they would also have some good contacts for TPA for player wages.
 
@Bones said:
Not sure if anyone else heard but on the Rush Hour tonight Brent Read was on saying that the owner of Bryden's has officially submitted an offer to purchase a 50% share of the Wests Tigers.

He says he was still awaiting a reply from the NRL (although i wouldn't have thought it is the NRL's to sell just yet).
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Just saw Brent Reed tweet this.

Interesting to say the least!

Wonder if it's to buy Balmain, or just their share in WT?
 
Further to this, apparently NRL is not keen and Lee has possibly withdrawn offer.

Maybe a better bet would be for him to buy out Balmain for the debt and circumvent the NRL.

More to come out of this story I suppose.
 
Re: _The Australian_ newspaper journo Brent Read discussing Brydens offer for Tigers on Triple M Rush Hour- podcast audio starts at **05:30** - **07:02**
http://www.triplem.com.au/sydney/shows/rush-hour/podcast/23032016–-rush-hour-podcast/
 
Why is no-one reporting that I also offered to buy a 50% share. After scraping together 8.70 from my car ashtray, I put in a bid. The NRL also rejected this surprisingly
 
@diedpretty said:
Cool - we could change our logo to scales of justice and run out to And Justice For All by Metallica
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No theme song should be Mojo Nixon's destroy all lawyers
 
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