Harry interested in buying Wests Tigers

@Geo. said:
@Milky said:
@gallagher said:
@Milky said:
Wests don't have the finance to Support our club alone, hence why they merged in the first place. If Balmain go we are screwed. Regardless actually.

I would prefer the NRL in control of our club than Magpies or Balmain, look at the gold coast, went and signed DCE as soon as the NRL took over, we wouldn't dream of that right now or even in the next 5 years if we maintain the same ownership.

They didn't have money in the 90s. Both leagues clubs are much better off now.

So if they have the money why can't they instil it into the club now? Since we are near bankrupt…not having a go, just a legitimate question.

The current JV agreement only allows the JV partners Wests Group and Balmian to put in what the other can afford,,,

Thankyou Geo, didn't have much of an idea.
 
@Milky said:
@gallagher said:
@Milky said:
Wests don't have the finance to Support our club alone, hence why they merged in the first place. If Balmain go we are screwed. Regardless actually.

I would prefer the NRL in control of our club than Magpies or Balmain, look at the gold coast, went and signed DCE as soon as the NRL took over, we wouldn't dream of that right now or even in the next 5 years if we maintain the same ownership.

They didn't have money in the 90s. Both leagues clubs are much better off now.

So if they have the money why can't they instil it into the club now? Since we are near bankrupt…not having a go, just a legitimate question.

Maybe waiting for Balmain to go broke? They did offer to fund the joint venture in return for Balmain's voting rights. But balmain chose the NRL loan instead. Might be a case of sit tight until we fully own the club sorry of thing.
Or they got nothing. Gonna be interesting

.
 
Some of the comments here really amuse me. Why try to kill the goose that lays the golden egg? What does it matter what Harry Triguboff's motives are? Why do we have to imagine some kind of sculduggery?

He is a wealthy man who happens to support the Wests Tigers. He would like to contribute to their ongoing success as an owner, on his own terms. Good luck to him. He didn't get to where he is by being a mug.

I'm not wealthy enough to play in his league. If I was, I'd probably do what he's doing. If he is successful, I will continue to support Wests Tigers. If he's not I will be supporting Wests Tigers.
 
Saw an interview with him on Sunday. Anyone else think he sounds remarkably like Krusty the clowns rabbi father?
 
Hard hard business man. That rubbish about everyone winning is just that. He screws suppliers and builds the lowest quality units on the market.

Lots of statements where he says how good he is. Not my kettle of fish. Imagine talking to him in the pub. If not for his money you'd tell him to get off himself.

Has loads of money yet hoards it whilst people die that he could help with as little outlay as us dropping a five cent coin.

Who gets ownership when he dies? The fella is already in his 80s. A condition would need to cover where the club goes upon his death (perhaps to members).

_Posted using RoarFEED 4.2.0_
 
I hope to god this is true.

If HT bought out the Tigers we would see TPAs through the ass. We would be able to rort the salary cap like the Roosters do and considering our young talent we would become a powerhouse.
 
@NT Tiger said:
Some of the comments here really amuse me. Why try to kill the goose that lays the golden egg? What does it matter what Harry Triguboff's motives are? Why do we have to imagine some kind of sculduggery?

He is a wealthy man who happens to support the Wests Tigers. He would like to contribute to their ongoing success as an owner, on his own terms. Good luck to him. He didn't get to where he is by being a mug.

I'm not wealthy enough to play in his league. If I was, I'd probably do what he's doing. If he is successful, I will continue to support Wests Tigers. If he's not I will be supporting Wests Tigers.

Well written. It's hard to have a mature discussion when some seem intent on questioning his motives or turning it into a Wests V Balmain issue. It is not.
 
@Flippedy said:
What took you so long, Harry?

Whilst on the surface it sounds rosy, but your question is very valid, and that answer might destroy the dream of thousands of supporters.
 
Best he can do for JV (and Balmain's legacy) is buy out Balmain's debt as a good gesture. As of March 2016, they (BT) will end part ownership and say into WT.

Wests wont be giving up their share in WT and have first rights to remaining 50%.

_Posted using RoarFEED 4.2.0_
 
@wtfl1981 said:
Best he can do for JV (and Balmain's legacy) is buy out Balmain's debt as a good gesture. As of March 2016, they (BT) will end part ownership and say into WT.

**Wests wont be giving up their share in WT and have first rights to remaining 50%.**

_Posted using RoarFEED 4.2.0_

As far as I know they only get first rights if nobody puts up for the Balmain debt.
Both Wests and Balmain are shareholders in WestsTigers - who's to say he won't offer to buy both of them out whilst letting them retain some positions on the board (as they do look after the junior areas).
Interesting times ahead!
 
@Abraham said:
@innsaneink said:
I dont buy it.

But even still, why pay $5m for something that is guaranteed to lose you money when that same $5m can be refunded to you an an annual basis thru sponsorship…..being such an astute buesinessman and all.

Not sure your grasping how the tax system works?

You can't tip in $5m and get $5m back. You can tip in $5m and offset tax payable by a maximum of 30% of that $5m.

But anyways, the point is why pump money in as a sponsor when you have no say over how it will be spent or whose pockets it will end up in, when you can buy the whole damn club and be in control of where every cent goes.

The WT seems to be a black hole where money's goes in and mysteriously never comes back out.

_Posted using RoarFEED 4.2.0_

If you look back I initially questioned someone else who stated sponsorship is 100% tax deductible

I also said I may be wrong, yes, I dont understand the tax system, I have better things to do
 
@willow said:
@Knuckles said:
@willow said:
_**We will forever be stuck at the bottom end of the comp if we continue on our current path.**_ Money talks and Harry has plenty of it. That brings sponsorship, visibility, resources and marquee players.

Thats debateable …...... I think our current path has us heading in the right direction. New board, new chair, soon a new CEO ........... we just need to fix up the salary cap debacle left by the previous administration (which will take time) and there is no reason not to expect the club can once again be a respectable and competitive force again.
There's negatives as well as positives in a private ownership arrangements ...... its not just about money albeit that is very important. I doubt it will come to fruition anyway ....... but if Ashfield want out and they can agree to terms then there's always an outside chance if they can agree on a price.

I don't think so Knuckles. Even if Wests were to buy Balmain out, I can't see them contributing the kinds of funds we need to develop the club into an NRL powerhouse to rival the likes of the Roosters and Broncos. If Wests are sitting on tens of millions of dollars which they are prepared to invest into the the club, then I'd be happy for them to buy out Balmain tomorrow and be done with it, but I seriously doubt that will happen.

Harry T wants to **_ensure the success of the Wests Tigers which is what 99% of us on here would like to see_**. He's got the money and resources to really transform the club into something the likes of which we have never seen before. I just do not see either Wests or Balmain being in a position to make this happen.

Yes, we agree on the end result but the getting there is where we differ. You mention we are financially screwed …. I don't know how true that is. The issue to me is how we have spent our salary cap .... The money has always been there but the previous board and management did not manage things as well as they should have.
If, in the unlikely event, Harry does get control of the club, I will support him to the hilt. But we do need some safeguards put in place if things don't turn out as Rosey as some on here imagine they will.
It will be interesting to see how it all plays out.
 
Harry is a passionate supporter but a businessman first. Don't underestimate his intelligence. I may be incorrect but I believe the reason Harry wants to acquire WT is quite straightforward. Harry is a developer, therefore, if he buys WT he can take over the Victoria Rd project. Upon it's completion, Harry's initial investment to purchase WT will be easily recouped and effectively will probably end up owning the club for nothing. So not a bad way to help the club you love and make money at the same time. If this is his motive, I have no problem with it. It's a win win situation for all parties including the NRL, one less headache club to worry about.
 
@Growler said:
Harry is a passionate supporter but a businessman first. Don't underestimate his intelligence. I may be incorrect but I believe the reason Harry wants to acquire WT is quite straightforward. Harry is a developer, therefore, if he buys WT he can take over the Victoria Rd project. Upon it's completion, Harry's initial investment to purchase WT will be easily recouped and effectively will probably end up owning the club for nothing. So not a bad way to help the club you love and make money at the same time. If this is his motive, I have no problem with it. It's a win win situation for all parties including the NRL, one less headache club to worry about.

Could be wrong here but don't think Balmain own the Victoria Rd site , I think Rozelle Village Group own it (Benny Elias) so he won't be able to " take over " the site
 
I really like that part when he talks about himself caring about his employees and purchasers feeling like winners. It's something I think most businesses don't understand. I've never had that type of culture in my work places.
 
Back
Top