Harry interested in buying Wests Tigers

@Knuckles said:
@littletiger said:
Tripple m just said the sale to Harry won't happen because harry would have to buy out wests and wests are not looking to sell.

Everyone has their price mate …. Of course they'd say that.
Up to this point Harry has only said he is considering buying out the Wests Tigers ..... Let's see him put some cold hard cash on the table for the NRL and Ashfield to have a think about.
$5m may be a good starting point ..... $2.5 m would repay the NRL and see them off the board. Is $2.5m enough for Ashfield to accept .... I doubt it but it's a good starting point.

Come on Harry .... Let's see some dollars on the table :smiley:

So we sell an asset for $5m that will receive $12m in revenue in 2017 and beyond, that makes sense. Wests won't sell as in 6 months time for $2.5m they will own 100% and a guaranteed revenue stream. Simon cook is a very smart operator

_Posted using RoarFEED 4.2.0_
 
@Ed Reschs said:
@Knuckles said:
@littletiger said:
Tripple m just said the sale to Harry won't happen because harry would have to buy out wests and wests are not looking to sell.

Everyone has their price mate …. Of course they'd say that.
Up to this point Harry has only said he is considering buying out the Wests Tigers ..... Let's see him put some cold hard cash on the table for the NRL and Ashfield to have a think about.
$5m may be a good starting point ..... $2.5 m would repay the NRL and see them off the board. Is $2.5m enough for Ashfield to accept .... I doubt it but it's a good starting point.

Come on Harry .... Let's see some dollars on the table :smiley:

So we sell an asset for $5m that will receive $12m in revenue in 2017 and beyond, that makes sense. Wests won't sell as in 6 months time for $2.5m they will own 100% and a guaranteed revenue stream. Simon cook is a very smart operator

_Posted using RoarFEED 4.2.0_

With the richest deal league has ever had ..yes The Wests group will be waiting for Mr Meriton to come knocking .
 
@willow said:
@Geo. said:
It's also interesting that somehow this injection of cash will translate to results on the field…mkay

Infrastructure, resources and buying power - three things the club currently lacks Geo, bigtime.

I understand this….there is nothing stopping Harry investing in these areas now and I believe he already did at the start if the Year with supplying the S & C dept with the much needed revamp requested,,,

The problem lies currently with the existing JV agreement only allowing one side to contribute what the other can afford.....they are only required to cover the operating loss from year to year of the Wests Tigers...

Wests Group certainly has the resources to pump more into the Wests Tigers and come next year will be in a position to do so... I would much rather Harry behind the scenes Politis style...interesting times anyway...
 
@magpiecol said:
Will not happen. Next!

And the whole world is just quivering at the same thought of A Balmain rebirth, I suppose.

Ive said all along, since Balmain had to step back , that I wanted them to be back , if it was at all possible, and supported both partners go forward together. Still as Wests Tigers .

The one thing that has come out of Harry's announcements is that it's shown that some were just waiting for an excuse to get stuck into Wests.
This still is Wests Tigers , and I would like to think that I still support both partners being able to sort Balmains problems out , and continue , but I don't support a back door takeover by either partner.
Harry may be great for the club or maybe not. We don't know
Even Russell Crowe had to be told to pull back from trying to run everything at Souths , in the early years that he was there.
With Harrys , it's my way or nothing, attitude, we could end up with more problems than we already have.
A shed load of money would be great to have, but I wonder how long it would be before Harry finds out that running an NRL club is Not, the same as running an NRL club.
He may get his own way in the club, but he will bein for a shock when it comes to dealing with all the factions in the League
Manly is still trying to clean up the damage that they've seen done to their club by people who thought they were gods gift to running a club.
Maybe if he did become the owner , but he was kept at arms length from the actual football side of the club, it may work.
But he doesn't strike me as someone who would step back and let the others run the club
 
@formerguest said:
@Magpie Magic said:
Thank you for your kind words.

Seems no one from the Wests side likes this idea and everyone from the Balmain side does give or take.

This is important to many people.

Who are you to judge this.

I for one have put up with to much change for " the good of the game "and want no more.
A JV with a private owner is problematic.

He could buy Balmains stake or be involved heavily on board level and that would make us successful.

A takeover is not required.

I'm ex Balmain and pretty well agree with this, so let's be fair, there are a lot like me that don't want private ownership, regardless of who it may be.

For mine the ball Is in Harry's court. If he truly has the passion that he claims to have for his old club and its supporters, then he should give it to the side to play with, else he can choose to tuck it under his arm and mope all the way home.

Well put
 
@Ed Reschs said:
@Knuckles said:
@littletiger said:
Tripple m just said the sale to Harry won't happen because harry would have to buy out wests and wests are not looking to sell.

Everyone has their price mate …. Of course they'd say that.
Up to this point Harry has only said he is considering buying out the Wests Tigers ..... Let's see him put some cold hard cash on the table for the NRL and Ashfield to have a think about.
$5m may be a good starting point ..... $2.5 m would repay the NRL and see them off the board. Is $2.5m enough for Ashfield to accept .... I doubt it but it's a good starting point.

Come on Harry .... Let's see some dollars on the table :smiley:

So we sell an asset for $5m that will receive $12m in revenue in 2017 and beyond, that makes sense. Wests won't sell as in 6 months time for $2.5m they will own 100% and a guaranteed revenue stream. Simon cook is a very smart operator

_Posted using RoarFEED 4.2.0_

Balmain can set whatever price they deem suitable to sell their share.

I'd assume as in most partnership agreements the existing stakeholders have first option to buy, but that doesn't mean they can set the buy out price.

If Balmain ask $7.5m, Cook will need to take that to his members. Do the pokie loving members really want a football money pit?

_Posted using RoarFEED 4.2.0_
 
Balmain can set whatever price they deem suitable to sell their share.

I'd assume as in most partnership agreements the existing stakeholders have first option to buy, but that doesn't mean they can set the buy out price.

If Balmain ask $7.5m, Cook will need to take that to his members. Do the pokie loving members really want a football money pit?

_Posted using RoarFEED 4.2.0_

exactly they want to build their club empire not go bust supporting a footy team.
 
I doubt that Watto. Paying off their debt to the NRL would be enough. Otherwise they set the price for a billion and never have to sell. The NRL would have that in the agreement. Actually I'm sure there is a 6 month time limit to them selling aswell.
 
I'm pretty sure Ashfield has first option to buy, but may be wrong. Also pretty suer the NRL revenue is tied to NRL spend, so not real benefit to Ashfield, especially as they would have to prop up the team and find TPA's.

As a Wests Tigers fan I hope we end up in the area and with 1 owner, nothing else matters why would we alienate either of the OLD supporter groups?

If we moved or forget where we came from it would be harder to maintain a supporter base than if we had 2 owners.
 
@Ed Reschs said:
@Knuckles said:
@littletiger said:
Tripple m just said the sale to Harry won't happen because harry would have to buy out wests and wests are not looking to sell.

Everyone has their price mate …. Of course they'd say that.
Up to this point Harry has only said he is considering buying out the Wests Tigers ..... Let's see him put some cold hard cash on the table for the NRL and Ashfield to have a think about.
$5m may be a good starting point ..... $2.5 m would repay the NRL and see them off the board. Is $2.5m enough for Ashfield to accept .... I doubt it but it's a good starting point.

Come on Harry .... Let's see some dollars on the table :smiley:

So we sell an asset for $5m that will receive $12m in revenue in 2017 and beyond, that makes sense. Wests won't sell as in 6 months time for $2.5m they will own 100% and a guaranteed revenue stream. Simon cook is a very smart operator

_Posted using RoarFEED 4.2.0_

He may have missed the boat, with the money coming into the game now.
Even if Wests were undecided before the new deal, I agree that they would be unlikely to roll over now, or at least be more hesitant to do so.
This situation may also draw the interest of others , in owning half of a licence,
It's certainly no foregone conclusion.
 
@gallagher said:
I doubt that Watto. Paying off their debt to the NRL would be enough. Otherwise they set the price for a billion and never have to sell. The NRL would have that in the agreement.

The only way that could happen is if the NRL sued Balmain for the debt and they were forced to declare bankruptcy.

Do you really think the NRL will go down that path?

The only card the NRL will play is canceling the license… That leaves both parties with zero equity!
 
I don't think Harry needs all this crap, innuendo, hidden agendas, nobody telling one of the richest men in the world to put up or shut up.

Why would he bother.

Enjoy your retirement Harry after you sell Meriton to the Chinese.
Give RL away and follow your Tennis - You don't need it.

Leave the JV to stumble in their own stupidity.
 
@Geo. said:
@willow said:
@Geo. said:
It's also interesting that somehow this injection of cash will translate to results on the field…mkay

Infrastructure, resources and buying power - three things the club currently lacks Geo, bigtime.

I understand this….there is nothing stopping Harry investing in these areas now and I believe he already did at the start if the Year with supplying the S & C dept with the much needed revamp requested,,,

The problem lies currently with the existing JV agreement only allowing one side to contribute what the other can afford.....they are only required to cover the operating loss from year to year of the Wests Tigers...

Wests Group certainly has the resources to pump more into the Wests Tigers and come next year will be in a position to do so... I would much rather Harry behind the scenes Politis style...interesting times anyway...

Geo mirrors my understanding and thought process.

Politis behind the Rorters, The Stockmen behind the Cowboys, Borncos and their Thoroughbreds, the Titans also using houses to lure Prince away… The power clubs have access to fringe capital, flirt with the grey areas, use esteemed businessmen to pass on almost insider info to help players work their paychecks better (case in point the recent Cowboys development case in the media). This is Harry's real strength, the best utilisation as a club asset for his skill set.

I dont fear Harry as an owner, nor am I against it, though the reality is Wests Ashfield isnt likely to sell, I am almost positive they wont. Though if he did buy Wests share, what does everybody think he will invest immediately to turn things around so quickly? It is highly doubtful he will snap his fingers the second he owns the joint, buy a large parcel of land and immediately develop it into a state of the art training facility... he is an astute businessman, he will go through a prolonged lobbying process with councils to find a suitable venue to work in tandem with, its his bread an butter, its what he does. He also cannot click his fingers and correct the salary cap mess instantly, its contractual, and has to work within the boundaries set by the league, the same issues we fight now are still in place. Being brutally honest its a short term projection of "shuffling of the deck chairs on the Titanic".

There will be calls that he will bring in TPA's like he has any flex on the issue. If he was the super fan you think he is you would think he would already be flexing on these options at present wouldnt you? If not, why not?

Harry's real power is now he isnt a sponsor he can support our salary cap TPA crazy. A team doing well has no sponsorship problems, jersey space becomes a hot comodity, has no problems recruiting talent, filling stadiums..... making money! Harry could almost single handedly, and immediately impact on our movements in the player market, though of late we are still investing in speculators.

People need to get a grip. Tinkler gave $10M a year didnt he, no premiership in that time... Harry cannot be guaranteed immediate success either. Our squad will be our squad short term, the cap will be the cap, contracts will still be contracts, and unless Harry purchases the club then throws umteen millions into purchasing and re-developing an immediate high performance training facility to own outright, that will also be a long protracted saga (one we are already involved in mind you). So short term, he can pretty up the place, lick of paint, grease wheels maybe, but ownership doesnt preclude him from doing that at the time being either...

Talks cheap, and dreams are best saved for when you are sleeping.
 
@Tiger Watto said:
@gallagher said:
I doubt that Watto. Paying off their debt to the NRL would be enough. Otherwise they set the price for a billion and never have to sell. The NRL would have that in the agreement.

The only way that could happen is if the NRL sued Balmain for the debt and they were forced to declare bankruptcy.

Do you really think the NRL will go down that path?

The only card the NRL will play is canceling the license… That leaves both parties with zero equity!

Depends on the agreement and I'm not pretending to know what's in it. But if Balmain can't repay the loan by March I think they relinquish their share. I don't think it's a case of them selling but them being bought out. The NRL want their money back and want to get out of the club. I can't see them not having all bases covered in their favour.
 
@Tiger Watto said:
@gallagher said:
I doubt that Watto. Paying off their debt to the NRL would be enough. Otherwise they set the price for a billion and never have to sell. The NRL would have that in the agreement.

The only way that could happen is if the NRL sued Balmain for the debt and they were forced to declare bankruptcy.

Do you really think the NRL will go down that path?

The only card the NRL will play is canceling the license… That leaves both parties with zero equity!

Bit hard to do when the licence is between the Wests Tigers and the NRL….the JV partners are only liable for the operating losses from year to year of the Wests Tigers

"The name and logo of the entity has formed part of our licensing agreement with the NRL," Cook said on Wednesday. "Therefore, any changes in shareholding will have no impact on the name, colour or logos of the organisation.
"That's fact. It's a condition of our NRL licence."
\

"The NRL licence is between the NRL and the Wests Tigers and not the shareholders. The shareholders are not connected to the licence. From Wests Ashfield perspective it will have no impact on the Wests Tigers."
\

"Balmain, or Wests [Ashfield] for that matter, are not contracted to the NRL - Wests Tigers are," Cook said. "What Balmain do has no impact on the NRL licence.

http://www.smh.com.au/rugby-league/league-news/wests-ashfield-ceo-simon-cook-says-tigers-name-wont-be-replaced-by-magpies-20140319-hvkfo.html
 

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