hammertime
Well-known member
If Harry buys it out, I hope that Wests and Balmain (If they recover) just shift on the Juniors like Cambo did. Imagine how good we could be?
Salivating…
Salivating…
Harry interested in buying Wests Tigers
- Thread starter Bones
- Start date
GNR4LIFE
Well-known member
@hammertime said:
But it isn't for sale. Wests have already said as much.
@gallagher said:
Separate entity mate always were they were part of the WESTS Group that Funded the WESTS Tigers but gave up their seat to Wests Ashfield to remove them from any funding responsibility…
gallagher
Well-known member
@Geo. said:
Gotcha. No more questions for a week.
innsaneink
Well-known member
@Geo. said:
Did you have a look at the "Strategic Plan" tab?
So Wests Group are effectively just a funding bloc, yeah?
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@Cultured Bogan said:
They were/are…originally made up of Wests Ashfield Wests Cambo and Western Suburbs Football Club,,,now it's Wests Ashfield and FC but the FC has no financial clout so Wests Ashfield is basically WESTS Group...
Gary_Bakerloo
New member
Someone closer to the scene may know more, but I understand Wests Campbelltown exited the JV for the following reasons:
1\. Legal advice indicated they could be liable for additional JV expenses should Balmain default.
2\. Consolidation of the Wests Group direction with the JV
With regard to item 2, many of you may remember the old Wests Group structure with the JV:
Ashfield: 3 seats
Campbelltown: 1 seat
Wests Football Club: 1 seat
Relationship between the football club and Wests Campbelltown was horrible and the whole group was fractured and lacked direction. Ashfield (who provides 4 seats to the board of the football club) refreshed the positions on the football club and in addition to the concerns in item 1 above, Campbelltown "sold" its seat to Ashfield. Ashfield effectively became the sole shareholder for Wests under the new governance structure of the Wests Tigers and Wests Campbelltown became a sponsor. Long story short…...Wests got their own house in order.
Hence, whilst under the current arrangements you don't consider Wests Campbelltown, I think they should be considered for future ownership because in the event of Balmain leaving the JV, Wests Campbelltown could be an interested party again.
1\. Legal advice indicated they could be liable for additional JV expenses should Balmain default.
2\. Consolidation of the Wests Group direction with the JV
With regard to item 2, many of you may remember the old Wests Group structure with the JV:
Ashfield: 3 seats
Campbelltown: 1 seat
Wests Football Club: 1 seat
Relationship between the football club and Wests Campbelltown was horrible and the whole group was fractured and lacked direction. Ashfield (who provides 4 seats to the board of the football club) refreshed the positions on the football club and in addition to the concerns in item 1 above, Campbelltown "sold" its seat to Ashfield. Ashfield effectively became the sole shareholder for Wests under the new governance structure of the Wests Tigers and Wests Campbelltown became a sponsor. Long story short…...Wests got their own house in order.
Hence, whilst under the current arrangements you don't consider Wests Campbelltown, I think they should be considered for future ownership because in the event of Balmain leaving the JV, Wests Campbelltown could be an interested party again.
Hey guys,what would happen if Harry decided to give Balmain a huge donation,enough to cover the payment due in March and a little extra..
After all he was passionate about the Balmain Tigers,and now the WTs,this could be the last hoorah for Balmain and if they were to be financial again HTs contribution could set the JV up again as it should be without the NRL or Independant board…...
Stranger things have happened in life....just saying,not looking to side track the debate...
It's merely a question,that could happen...HT has given heaps of $$$ over the years,this could be his last input.....
After all he was passionate about the Balmain Tigers,and now the WTs,this could be the last hoorah for Balmain and if they were to be financial again HTs contribution could set the JV up again as it should be without the NRL or Independant board…...
Stranger things have happened in life....just saying,not looking to side track the debate...
It's merely a question,that could happen...HT has given heaps of $$$ over the years,this could be his last input.....
Tiger_Watto
New member
@Geo. said:
So they established a new constitution?
Geez I hope they remembered the clause for the magpie on the sleeve this time.
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@TrueTiger said:
Well and good then he might as well write a Chq for every year as Balmain will require the same funds annually …how do you think rich people become rich by throwing it away!
This Harry buying the Weststigers ended when the Wests group said they were not SELLING and they have first option to buy the LOAN.
@Tiger Watto said:
Yes… they did which includes this FACT....
March 31, 2016 — Next Funding Amount due. If Balmain remain Unfinancial Shareholder beyond this date, their shares are defaulted and placed up for sale.
No SMH here...
hammertime
Well-known member
@Snake said:
I wonder if Wests only have the first option to buy the loan if it reaches default. Maybe Balmain can sell off to Harry before then.
Would be the 2nd best option with Harry having 50%.
GNR4LIFE
Well-known member
Harry doesn't want 50% though
Harry doesn't have a say, so he may need to rethink his approach, that's to say if he is indeed serious about it at all.
As they say anything and everything is for sale, just depends on how much people are willing to pay.
In this instance and like any business, you need plans for growth, development, accountability etc, but for me the big issue is succession planning. We know that HT is and elder statesman but I would like to see what the 10 year plan would be and this needs to be presented otherwise the original article is just all talk and it may end up at the end of the day as just being hot air.
In this instance and like any business, you need plans for growth, development, accountability etc, but for me the big issue is succession planning. We know that HT is and elder statesman but I would like to see what the 10 year plan would be and this needs to be presented otherwise the original article is just all talk and it may end up at the end of the day as just being hot air.
There could be any number of reasons Mr Triguboff made the public announcement he did. He may have wanted to head off discussions about moving the team to WA, effectively saying this team will get local sponsorship if needed pick on somebody else.
He may want to expand his apartment chain into the WA market. What better way to raise his profile there.
He may be having discussions already with Wests Ashfield and Balmain. Whatever the case, I don't think he'll be asking for our opinions.
He may want to expand his apartment chain into the WA market. What better way to raise his profile there.
He may be having discussions already with Wests Ashfield and Balmain. Whatever the case, I don't think he'll be asking for our opinions.
gallagher
Well-known member
@batboy said:
Maybe not the club. But what about our license? Heaps of expansion teams looking for a license. If Wests were to sell they'd go to the highest bidder.
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