Harry interested in buying Wests Tigers

[Abraham]

Alot of people taking about the financial prowess of Wests Ashfield has pricked my interest, and I did abit of a comparison between Ashfield and other Western Sydney Leagues Clubs.

Now Ashfield took in revenue of $41m for 2014 financial year, of which $36m was from poker machine takings.

Comparing this to the other clubs in Western Sydney:

Parramatta $78m revenue, $51m from pokies
Canterbury $105m revenue, $71m from pokies
Penrith $118m revenue, $63m from pokies

It seems that we are small fry compared the the money that other clubs make, and by a long way too. This honestly surprised me as I thought Ashfield was up there with the big boys in terms of finances.

Now this is not knocking Ashfield, because we can all agree that the Wests Tigers only exists nowadays because of them. And they are by no means struggling financially, as they make a lot of money and can hopefully funnel alot more of that into the WT in coming years.

I think it just points out our financial standing compared to others, who seemingly have an open cheque book they can call upon from their leagues clubs. And even though our leagues club backer is successful, it's still a long way off the financial strength of our main competitors in the western Sydney market.

Food for thought anyways.

_Posted using RoarFEED 4.2.0_

Just because a club has bigger revenue than another club doesn't mean they have bigger profits. Wests Campbelltown needs to be considered aswell.

That's true about profits, but comparing revenue is the only way you can compare apples to apples. Once you take into account expenses, well that's where non cash expenditure and 'creative' accounting can paint any picture the club wants.

And no, we don't consider Wests Campbelltown. They exited the Joint Venture, and are under no obligation to pay a single cent to the Wests Tigers. Their concern (as I understand it) is to basically finance the magpies and that's it.

Don't be concerned, as taking in $41m in a single year is nothing to be sneezed at. The point was to show that we are up against some absolute money making giants, and that no stone should be left unturned in pursuit of financial security.

 

[sideline_eye]

Private ownership is OK as long as you know that the owner will stay for the long term. In this case, Harry is 80+ and who knows how long he will want to stay around. When Harry goes, and nobody lives forever, the directors of Meriton (or whoever is in charge at that time) may want to dump the Wests Tigers and get some cash. The danger is that the club may then be on sold to someone like Tinkler and that could be a disaster. I prefer the ownership to be in the hands of a diverse group of people, ie the leagues club members from Wests and hopefully, Balmain.

Remember, when Tinkler took ownership of Newcastle, there was no hint of what was to come. Anyhow, as I've said before, you can't buy what isn't for sale and as far as I know, Wests Tigers is not for sale.

 

[Abraham]

Private ownership is OK as long as you know that the owner will stay for the long term. In this case, Harry is 80+ and who knows how long he will want to stay around. When Harry goes, and nobody lives forever, the directors of Meriton (or whoever is in charge at that time) may want to dump the Wests Tigers and get some cash. The danger is that the club may then be on sold to someone like Tinkler and that could be a disaster. I prefer the ownership to be in the hands of a diverse group of people, ie the leagues club members from Wests and hopefully, Balmain.

Remember, when Tinkler took ownership of Newcastle, there was no hint of what was to come. Anyhow, as I've said before, you can't buy what isn't for sale and as far as I know, Wests Tigers is not for sale.

Meriton would not buy the Wests Tigers, it would be a personal purchase by Harry.

And yes, a succession plan (i.e. the club returned to the existing JV partners) would need to be an important part of any potential purchase negotiations.

 

[gallagher]

Alot of people taking about the financial prowess of Wests Ashfield has pricked my interest, and I did abit of a comparison between Ashfield and other Western Sydney Leagues Clubs.

Now Ashfield took in revenue of $41m for 2014 financial year, of which $36m was from poker machine takings.

Comparing this to the other clubs in Western Sydney:

Parramatta $78m revenue, $51m from pokies
Canterbury $105m revenue, $71m from pokies
Penrith $118m revenue, $63m from pokies

It seems that we are small fry compared the the money that other clubs make, and by a long way too. This honestly surprised me as I thought Ashfield was up there with the big boys in terms of finances.

Now this is not knocking Ashfield, because we can all agree that the Wests Tigers only exists nowadays because of them. And they are by no means struggling financially, as they make a lot of money and can hopefully funnel alot more of that into the WT in coming years.

I think it just points out our financial standing compared to others, who seemingly have an open cheque book they can call upon from their leagues clubs. And even though our leagues club backer is successful, it's still a long way off the financial strength of our main competitors in the western Sydney market.

Food for thought anyways.

_Posted using RoarFEED 4.2.0_

Just because a club has bigger revenue than another club doesn't mean they have bigger profits. Wests Campbelltown needs to be considered aswell.

That's true about profits, but comparing revenue is the only way you can compare apples to apples. Once you take into account expenses, well that's where non cash expenditure and 'creative' accounting can paint any picture the club wants.

And no, we don't consider Wests Campbelltown. They exited the Joint Venture, and are under no obligation to pay a single cent to the Wests Tigers. Their concern (as I understand it) is to basically finance the magpies and that's it.

Don't be concerned, as taking in $41m in a single year is nothing to be sneezed at. The point was to show that we are up against some absolute money making giants, and that no stone should be left unturned in pursuit of financial security.

Wests Cambo is owned by Wests Group though arnt they? Any profits they make are wests group profits? Or are they totally seperate?

 

[TrueTiger]

Gallagher,I have been under that impression myself,that is one of the reasons I joined WESTS Leagues at Campbelltown..My family and I organise functions there and patronise the club thinking that some of the money goes into WTs through the WESTS group..
If they don't help financially and stay seperate from the WESTS group,then I will join the Catholic Club in Campbelltown…...and just to let some of you know...I used to be an Alter boy..... 😛ray:
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I will be disappointed if the Wests Leagues doesn't inject some money into the WTs,directly or indirectly..... :angry:

 

[Cultured_Bogan]

I always though Wests Campbelltown were separate? Didn't they pull out of the funding and voting group for the Wests faction?

 

[hammertime]

The original article is here.

http://www.dailytelegraph.com.au/newslocal/macarthur/wests-leagues-campbelltown-pull-out-of-tigers-joint-venture/story-fngr8h70-1226665530205

Looks like they stopped direct funding to WT, but must commit money somehow via sponsorship. It's not exactly clear though.

 

[gallagher]

I always though Wests Campbelltown were separate? Didn't they pull out of the funding and voting group for the Wests faction?

Yeah they pulled out of Wests Tigers and gave up their board spot. I think they did that when Balmain went down the NRL route. I think it was to make the future ownership more simple. But i think they still belong to the wests group. No doubt someone here will know for certain.

 

[TrueTiger]

The original article is here.

http://www.dailytelegraph.com.au/newslocal/macarthur/wests-leagues-campbelltown-pull-out-of-tigers-joint-venture/story-fngr8h70-1226665530205

Looks like they stopped direct funding to WT, but must commit money somehow via sponsorship. It's not exactly clear though.

Thanks hammertime,it appears that WESTS Campo has separated themselves from the WESTS group but still provide sponsorship to the WTs…

The plot thickens,although the WTs still go to the leagues club for prematch preparations,and after game functions so I'm told.....

 

[gallagher]

The original article is here.

http://www.dailytelegraph.com.au/newslocal/macarthur/wests-leagues-campbelltown-pull-out-of-tigers-joint-venture/story-fngr8h70-1226665530205

Looks like they stopped direct funding to WT, but must commit money somehow via sponsorship. It's not exactly clear though.

Thanks hammertime,it appears that WESTS Campo has separated themselves from the WESTS group but still provide sponsorship to the WTs…

The plot thickens,although the WTs still go to the leagues club for prematch preparations,and after game functions so I'm told.....

Doesn't that just say that Cambo has left wests tigers, not wests group?

 

[Cultured_Bogan]

I always though Wests Campbelltown were separate? Didn't they pull out of the funding and voting group for the Wests faction?

Yeah they pulled out of Wests Tigers and gave up their board spot. I think they did that when Balmain went down the NRL route. I think it was to make the future ownership more simple. But i think they still belong to the wests group. No doubt someone here will know for certain.

Ah OK. Wasn't sure how they all fit together.

Cheers.

 

[goldcoast_tiger]

Gallagher,I have been under that impression myself,that is one of the reasons I joined WESTS Leagues at Campbelltown..My family and I organise functions there and patronise the club thinking that some of the money goes into WTs through the WESTS group..
If they don't help financially and stay seperate from the WESTS group,then I will join the Catholic Club in Campbelltown…...and just to let some of you know...I used to be an Alter boy..... 😛ray:
\
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I will be disappointed if the Wests Leagues doesn't inject some money into the WTs,directly or indirectly..... :angry:

And it shows TT, I noticed you seemed very saintly LOL!

 

[TrueTiger]

Gallagher,I have been under that impression myself,that is one of the reasons I joined WESTS Leagues at Campbelltown..My family and I organise functions there and patronise the club thinking that some of the money goes into WTs through the WESTS group..
If they don't help financially and stay seperate from the WESTS group,then I will join the Catholic Club in Campbelltown…...and just to let some of you know...I used to be an Alter boy..... 😛ray:
\
\
I will be disappointed if the Wests Leagues doesn't inject some money into the WTs,directly or indirectly..... :angry:

And it shows TT, I noticed you seemed very saintly LOL!

And can be devilish at times as well….. :laughing:

 

[TrueTiger]

Gallagher,it seems to me they seperated from WESTS group,but still give about 200,000k in sponsorship to WTs….not real sure but maybe GEO can find out more if he reads this post..

Or anyone else who may shed some light on the matter at hand....

 

[goldcoast_tiger]

Gallagher,I have been under that impression myself,that is one of the reasons I joined WESTS Leagues at Campbelltown..My family and I organise functions there and patronise the club thinking that some of the money goes into WTs through the WESTS group..
If they don't help financially and stay seperate from the WESTS group,then I will join the Catholic Club in Campbelltown…...and just to let some of you know...I used to be an Alter boy..... 😛ray:
\
\
I will be disappointed if the Wests Leagues doesn't inject some money into the WTs,directly or indirectly..... :angry:

And it shows TT, I noticed you seemed very saintly LOL!

And can be devilish at times as well….. :laughing:

Obviously you haven't got crook knees then.

 

[Abraham]

Guys, Campbelltown don't contribute to the Joint Venture.

_Wests Campbelltown Leagues has withdrawn from the Wests Tigers joint venture, sending a serious signal to the NRL that one of the sport's wealthiest backers in a region rich in playing talent will no longer financially support the amalgamated Magpies-Balmain club.\
\
While the Wests Campbelltown licensed club will continue its $200,000 a year support of the Campbelltown junior league, it will not contribute any funds to the NRL club. The message to the joint venture was communicated on Friday in a letter by lawyers acting for Wests Campbelltown. Wests Campbelltown held one of Wests' five votes on the NRL club board and, until this year, had often voted with Balmain, giving the Tigers a 6-4 victory in meetings.\
\
While the Wests Campbelltown vote will now flow to the Wests side of the joint venture, ensuring the Magpies camp can't be beaten in the boardroom, it will involve Wests Ashfield Leagues having to meet the share of cash traditionally contributed by Campbelltown_

http://www.smh.com.au/rugby-league/league-news/disjointed-venture-campbelltown-withdraws-funding-for-tigers-20130612-2o4gj.html

 

[TrueTiger]

No mate their fine haven't had to get on them,only thing I was crook from was when I knocked off a bottle of alter wine and drank it after Mass one night with my mate…..terrible stuff.....just remember mate "the Lord works in mysterious ways"maybe the wine was off.. :smiley:

 

[hammertime]

Gallagher,it seems to me they seperated from WESTS group,but still give about 200,000k in sponsorship to WTs….not real sure but maybe GEO can find out more if he reads this post..

Or anyone else who may shed some light on the matter at hand....

The 200k mentioned is for Wests juniors mate, doesn't say about the sponsorship.

Regarding Wests group, yeah not sure. They mention selling out to Wests Ashfield so if Wests Group own the 50% of Wests tigers, it would suggest they sold their stake in Wests group.

 

[Geo]

Wests Cambo do not contribute financially to the Wests Tigers as part of the Wests Group they gave up there vote at the time of restructure…They fund Wests Magpies Juniors and Group 6 in the CRL...

Wests Ashfield fund the Wests Tigers....

Here is an interesting timeline...

October 22, 1999 — Wests Tigers Rugby League Football Pty Limited (ACN: 090 076 403) registered under Corporations Law of New South Wales.

Incorporated as a proprietary company limited by Shares.
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· October 22, 1999 — 50/50 Ownership between Balmain and Wests established as follows:

100 Shares issued to Balmain Tigers Rugby League Football Club Limited (ACN: 000 190 161)
100 Shares issued to Western Suburbs Rugby League Football Group Pty Limited (ACN: 089 921 166) – Name changed to Wests Magpies Pty Limited
Board Structure – Five Balmain Directors, five Wests Directors with rotating Chair

· September 17, 2014 — New Shareholders Agreement, NRL Deed and Wests Tigers Constitution executed. New seven person Board structure — three Independents, twoBalmain Nominees, two Wests Nominees.

Independent Directors agreed upon by Nomination Committee consisting of:

NRL CEO
Two Balmain Directors
Two Wests Directors

· September 25, 2014 — Balmain moved into Funding Default and became Unfinancial Shareholder as unable to meet Funding Amount included in Shareholders Agreement. NRL Loan provided to Balmain to cover this funding shortfall.

Nominee Directors of Balmain removed immediately from Wests Tigers Board due to Funding Default.
Wests Tigers Board becomes five person Board until Funding Default resolved — three independents, two Wests Nominees.
Tony Andreacchio (Wests)
Simon Cook (Wests)
Lucio Di Bartololeo (Independent)
Marina Go (Chair - Independent)
Rosemary Sinclair (Independent)

· March 31, 2016 — Next Funding Amount due. If Balmain remain Unfinancial Shareholder beyond this date, their shares are defaulted and placed up for sale.

http://www.weststigers.com.au/about/shareholder_summary_.html

 

[gallagher]

Sorry if I'm being frustratingly stupid. So are wests Cambo part of Wests group, ie owned by Wests group? I know they aren't part off west tigers.