Harry interested in buying Wests Tigers

Harry T is worth $10+ Billion with a property boom in Sydney which, has a noter 3 years to run. By then he will be the richest man in Australia from a Net Worth Perspective. In perspective Rusty would be on the level of his shoe shiner.

Anyone willing to put in Big Money will want control of the club which, is fair enough. As long as the relevant safeguards like Souths are in place this is the best news the club has received in many years and I am an old Magpies fan.

The issue is succession as he is 82 years of age. If he controls the cub the TPA's, facilities, coaching team, technology etc. have the ability to be NRL leading. You don't want an estate and ex wives controlling WT so an exit strategy would need to be put in place upfront.
 
@Magpie Magic said:
What's in for Wests share?

Further invisibility?

He can buy Balmain s stake?

I was waiting for this kind of dribble to be posted. If you read the article Harry does specifically refer to Wests Tigers as an entity, not Wests or Balmain which you have conveniently done to suit your agenda.

It's not about Balmain and it's not about Wests.

You would think by now the fans on here are smart enough and realistic enough to move on and support the Wests Tigers and leave the past in the past where it belongs.
 
@Magpie Magic said:
What's in for Wests share?

Further invisibility?

He can buy Balmain s stake?

He wants to buy Wests Tigers….

Isn't it time we killed off both Balmain and Wests for good?...They have been dead for 15 years...

Its like never letting go of a deceased person.....move on!
 
Yes Ashfield would need to sell him their share. Do they want to sell? Who knows, i certainly can't say i'm totally up to date on their business plans. I seem to recall them being happy to keep tipping into the club as it was in their charter as a leagues club, but that they had no plans to run the club entirely?

If they were to sell they could maybe focus more on junior development in the region, which would also have a huge benefit. That and re-invest the profit from the sale into the club, future developments etc.

However they would probably want a safe guard of sorts that Wests will remain an equally important part of the club. ie the club wouldn't suddenly abandon the west and more permanently to the inner west. Harry would need to legally guarantee the club maintains its presence in the west. Not necessarily Campbelltown (eg If we were to one day move fulltime to Liverpool) but the west.

Harry has said before he feels he doesn't have the expertise to run a football club. So he'd need other to be the football brains for him. How much of the current management would remain would be in question, but the club would certainly be a more enticing prospect now than it has previously.

The single biggest problem the club has had since its inception is the whole bickering over every single detail between Balmain and Wests. This goes for board level and with the fans. Having one single view for the future to unite the club would greatly help to diminish the whole 'wests want to do this', 'the tigers are trying to counteract by doing that'. One organisation, run as a single entity with no management ties to either previous club. Just because neither club would have an active voice doesn't mean either club would be forgotten. Imagine what a bankrolled marketing department could do in Campbelltown, and the rest of Sydney!

And Harry has said that he isn't doing this to try and make a profit. While of course he wouldn't want to lose money unnecessarily, as no organisation at any level should, owning a sporting team is rarely about profits for billionaires. It's about prestige, legacy and sometimes philanthropy. He's not a sudden billionaire, nor a new found fan of the club. He's been making his money and supporting the club for a long time, and neither is going to change any time before he passes. He's most likely wanting to get some pleasure out of his money before he passes. What's the point in having billions if he can't donate $100 million for a cause he cares deeply about?!

Obviously a succession plan would need to be put in place. Whether that's in the form of a family member taking over with a legal guarantee of backing the club for a certain period of time, or the club being left with a trust fund of sorts who knows.

Imagine if we suddenly became the richest club in the comp! Best training facilities, best staff, in turn best players and lucrative sponsorships. To be reborn again like Souths have been.
 
@willow said:
@Magpie Magic said:
What's in for Wests share?

Further invisibility?

He can buy Balmain s stake?

I was waiting for this kind of dribble to be posted. If you read the article Harry does specifically refer to Wests Tigers as an entity, not Wests or Balmain which you have conveniently done to suit your agenda.

It's not about Balmain and it's not about Wests.

You would think by now the fans on here are smart enough and realistic enough to move on and support the Wests Tigers and leave the past in the past where it belongs.

Dribble why?
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Wests Ashfield own a 50% stake?

Visibility is important to them and others why should they sell when propagation of the Wests brand is part of their charter.
As for me i have no poer or agenda but i follow this club only because i followed Wests so i don't want an extinction of that part of the WT.

Is that a problem?
 
@willow said:
@Magpie Magic said:
What's in for Wests share?

Further invisibility?

He can buy Balmain s stake?

I was waiting for this kind of dribble to be posted. If you read the article Harry does specifically refer to Wests Tigers as an entity, not Wests or Balmain which you have conveniently done to suit your agenda.

It's not about Balmain and it's not about Wests.

You would think by now the fans on here are smart enough and realistic enough to move on and support the Wests Tigers and leave the past in the past where it belongs.

But is not legit to wonder what role Wests will play in this? They are 50% owners and by the sounds of it, Harry wants it all. What if Wests don't want to give up their share?
 
Won't happen, Wests won't sell their share, they want to buy part if not all of Balmains share if they fold. If Harry buys Balmains share it will cause more internal war & problems then there already is. Its either 100 or nothing, but won't happen.
 
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.
 
A while ago Marina Go stated that we were in final discussions with a new main sponsor and were in talks with Harry about him being involved in the club a different way. At the time I thought he was being positioned as the club's 'TPA sugar daddy' by moving him to arm's length.

However, this article makes me think that Harry & the Board have been talking about him buying the Tigers for a while. I'm guessing that Harry (who is is a very smart businessman) has been afforded deep insight to the current Board and, based on that, has become comfortable that the board are competent enough for him to deal with on a proper business footing.

Based on that confidence they are working out some sort of arrangement where he puts in a lot of cash for some form of ownership while leaving the Board in charge (obviously the other part of this assumption is that the previous board were so incompetent he wouldn't water them if they were on fire).

There would obviously be a fair amount of detail to work out (Ashfield's involvement, NRL involvement, succession planning etc. etc.) but I don't think Harry would have hit the papers unless a fair amount of that detail work had already been done.

& I completely agree with this paragraph from Balmain Boy above:
"And Harry has said that he isn't doing this to try and make a profit. While of course he wouldn't want to lose money unnecessarily, as no organisation at any level should, owning a sporting team is rarely about profits for billionaires. It's about prestige, legacy and sometimes philanthropy. He's not a sudden billionaire, nor a new found fan of the club. He's been making his money and supporting the club for a long time, and neither is going to change any time before he passes. He's most likely wanting to get some pleasure out of his money before he passes. What's the point in having billions if he can't donate $100 million for a cause he cares deeply about?!"
 
@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.

All true. But what if Wests don't want to give up their share?
 
Is there seriously negativity for this idea?? WTF!!!!!!!

Knuckles, (and anyone else who isn't 1000000% behind a Harry bid): Who controls the organization now? A bunch of friggin nincompoops! And where have they got us? NOWHERE!

So why the F any of us would even blink before taking up Harry on ANY offer he proposes is beyond me.

As Tigers fans we have hoped for something or someone wonderful to take us to where we want to be. We have been patient. We have often been impatient. But now it's here. Let's just all take stock to recognize it for what it is.

Because what it is, is not just any alternative to the present situation, it is the best alterative that we could ever hope for. The second richest person and richest man in Australia wants to put his $$ into the club purely on an emotional basis because he loves the Tigers and wants us to win.

It is almost beyond our wildest dreams.
 
@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 could imagine him working with State Govt on revamping an oval as our new home ground and throwing some Meriton units overlooking it.

Man, I would so throw down a deposit down on one of those.

Maybe that's why he mentions concord? It's ripe for redevelopment.
 
There have been whispers for the last 12 months that Harry will be selling Meriton off to a huge Chinese company, and make an absolute motza in the process.

So maybe he is looking for another challenge, and that challenge could be the Wests Tigers.

As for those comparing him to Tinkler, uppercuts all round.
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@Snake said:
Not his own money…Meritons money and 100 percent tax deductible let's keep things in perspective,his company had been generous.

Meriton is a Private Company.

Australia's largest Private Company i'm pretty sure.

So effectively, its Harry's money.

@innsaneink said:
100% tax deductible????
I might be wrong but I doubt that very much

And yes, sponsorship is 100% Tax Deductible.
 
@cktiger said:
@underdog said:
@innsaneink said:
100% tax deductible????
I might be wrong but I doubt that very much

The Tigers Run at a loss, dont they?

His sponsorship dealings with the Tigers could be underpinned as "losses" by the ATO.

I'm sure he has a creative team of accountants that would ensure something like this.

Why even question someone who has thrown millions at the club he obviously loves?
He could always have spent it somewhere else and 'saved some tax'.
Geez - some people see an agenda behind everything

Who's questioning him?
We are talking about his sponsorship. …un bunch your panties
 
@Abraham said:
There have been whispers for the last 12 months that Harry will be selling Meriton off to a huge Chinese company, and make an absolute motza in the process.

So maybe he is looking for another challenge, and that challenge could be the Wests Tigers.

As for those comparing him to Tinkler, uppercuts all round.
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@Snake said:
Not his own money…Meritons money and 100 percent tax deductible let's keep things in perspective,his company had been generous.

Meriton is a Private Company.

Australia's largest Private Company i'm pretty sure.

So effectively, its Harry's money.

@innsaneink said:
100% tax deductible????
I might be wrong but I doubt that very much

And yes, sponsorship is 100% Tax Deductible.

So why doesn't he just sponsor us for 10 or 20m per year to get us out of the mess?
 
^^Ink that's been an interesting thing with Harry. I've often heard him indicate that he is really a reluctant sponsor and was only doing so because he was the club's last chance.

However, ownership in some part or form is another thing entirely and this is what he is eyeing off. With his nous and business history, you can be sure he has an angle and if he does get involved maybe this is something as simple as another development.

In any case, I'm all for it if Harry wants in. He is a rich and long term successful person and fan. He's shown his hand somewhat in so far as he does want everyone to win, so really who would be better to get involved with?

Last I looked over our 15year history, this is pretty close to rock bottom at the moment.

So while the only way is up, I'd rather that improvement be quicker than slower and with smart and substantial funding it could be quite a sharp recovery.
 
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