HBG Directors give themselves Pay rise

It’s been dubbed ‘the most chaotic board in NSW’. But Wests Tigers’ owners are pushing for a pay rise

By Chris Barrett

March 7, 2026 — 4.21pm
Wests Tigers’ owners are bidding to give themselves a pay rise three months after a shambolic episode in which they sacked chairman Barry O’Farrell and three other directors before backflipping at the behest of the NRL.

The Holman Barnes Group, which owns 90 per cent of the Tigers and holds the licence for the NRL team, has for the past year been embroiled in turmoil that has threatened to spill over into the football club.

Now, its board members are seeking a boost which would see them collect more than their counterparts at most other Sydney clubs with ties to NRL teams.

HBG is proposing that its chairman’s annual honorarium be lifted from $51,341 to $65,000, the deputy chair’s fee to be raised from $33,371 to $50,000, and all other directors to get $32,500 instead of $25,670. All would also receive an extra $5000 if they sit on a club committee.

The effective $70,000 payment per annum for the chairman would eclipse the amounts paid to those in charge at most of Sydney’s major NRL-affiliated leagues clubs, including those with much larger membership bases.

Parramatta Leagues Club, which owns the Eels and has 65,000 members, gives its president $30,000 a year and other directors $20,000.

The 60,000-member Canterbury League Club, which is strongly linked to the Bulldogs and backs them financially, allows for a total of $229,801 to be paid to its seven directors including the chairman – an average of $32,828, although the chair and deputy chair receive a greater share.

St George Leagues Club, which owns 50 per cent of the Dragons and has 25,000 members, hands its chair $16,000 a year and ordinary directors $12,000, plus $2000 for each committee they sit on.

HBG has 27,000 members and the proposed honoraria for its board are exceeded only by those at Penrith NRL team owners Panthers Group, where total revenue was nearly $180 million in 2025 and which has a membership base of 148,000. The Panthers’ chairman receives $80,000 a year, its two deputies get $40,000 each and the remaining directors pick up $20,000 per annum.

Like those at other clubs, the HBG board members can take advantage of other perks of the position such as food and drinks. At the club’s annual general meeting on March 21 members will also be asked to approve its chairman and deputy receiving $500 per month hospitality cards.

As Holman Barnes Group’s business has expanded, the workload and governance responsibilities placed on directors have increased substantially,” said HBG vice-chairman Frank Primerano, who also sits on the Wests Tigers board.

“The proposed adjustments simply bring board honorariums into line with the scale of the organisation and the time commitment required, particularly as directors are increasingly involved in committees and strategic projects during this period of significant growth and investment.”

A source familiar with the activities of HBG, speaking on the condition of anonymity, said: “How can the most chaotic board in NSW simultaneously become one of the highest paid?

“If the stipend for the board were based on performance then quite obviously these people would be getting a pay cut, not a pay day.”

HBG, which oversees venues including Wests Ashfield, returned a net profit of $11.9 million in 2025 after raking in $52 million from poker machines and recording overall revenue of $100 million, according to its annual report.

But the organisation has been plagued by dysfunction during the past 18 months, with several board members controversially removed and former NSW premier O’Farrell and three other independent directors then sensationally axed from the Tigers last December less than a year after they were installed following a governance review.

After concerns were raised by the NRL, HBG reinstated them days later and O’Farrell was Tigers chairman. But the club was forced into a costly payout to Tigers chief executive Shane Richardson, who resigned amid the boardroom chaos 18 months into a four-year contract, and settled out of court with former HBG director Rick Wayde, a key instigator of the Tigers review, after he was banned for eight years.

HBG, which owns the NRL team via its control of Wests Magpies, has since beefed up its representation on the Tigers board, giving it an effective majority.

While the Tigers are governed separately to their owners, NRL funding for the team flows through HBG.

According to its latest financial report, HBG received $20 million from the NRL in 2025 and owes $36 million to players and head coach Benji Marshall over the next five years.

HBG is unusual in that the balance of power lies with 20 so-called debenture holders, who choose the majority of its directors under a decades-old, undemocratic system.

Only two of nine board seats are directly elected by the wider membership and there will not be a ballot for those spots at this month’s AGM after one of the three nominations withdrew.

The two remaining are well known to HBG board members: Shannon Cavanagh, a director of Wests Magpies alongside HBG chairman Dennis Burgess and Primerano, and Aldo Di Mento, a director of APIA Leichardt FC – the inner-west soccer team in which HGB bought a stake last year and on whose board Primerano and HBG chief executive Daniel Paton also sit.
 
Just read up on the debunture holder system a bit more.

It does sound like a pretty good system tbh.

The more I read into it, the more I scratch my head in trying to figure out what WT can do get out of this perpetual failure.

I hope our new CEO Shaun does a very good job at getting HBG to invest into WT and show them how this could leave to long term growth of WT investing back into the community represented by HBG.

The debt holders have nothing to gain on paper from HBG but the shrewd operators would ensure the contracts that go out to companies (maintenance, cleaning etc), there might be kickbacks from that. I doubt anything like that is audited.

Below the belt but even if Shaun can convince them that please invest $5m into WT, we will give you a kickback of $50k.

Getting desperate here, but trying to understand how their system actually works.

Further to all this, they may not be receiving any money off the profits, but from what I understand, they can still borrow against whatever they're owed if the company goes into liquidation.

Would love for someone with more knowledge to enlighten me in this.
The sole existence of a league club mate is to invest in the league community (and the broader community). For those reasons, they get a whole bunch of tax breaks (I think they basically pay zero tax) and can operate things like poker machines. They also have a bunch of rules that they need to follow as a registered club.

So there is no need to "convince" HBG. Investing in WT and pathways is their sole purpose to exist and members contribute on that basis (knowing it goes back to the community).

That's why people are so upset, mate. The "owners" are not owners, like you get in a company; they are elected representatives only. They are supposed to work for their members and the community, and it certainly can be argued that they are not doing that.

Typically, there is a way to remove directors who are wrongly governing, through voting. But this debenture system has created a mess where 20 guys are basically unaccountable. I'm not sure why Liquor & Gaming (the regulator) permits it.
 
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Mate, if it was a one-off I would let it slide, but it isn't a one-off
So there is not much chance of a ClawsOut podcast from Wests Ashfield happening anytime soon ?
Yes we know it’s not a one off, but it is the first time they have been reprimanded and given instruction from PVL.
I am not expecting any other boardroom issues anytime soon, but I must admit BOF didn’t look very connected with the others based on that recent photo which was a bit concerning.
What do you know, do you think BOF will get a fair and reasonable say on any Wests Tigers related boardroom decisions, or do you think he is just wasting his time ?
 
So there is not much chance of a ClawsOut podcast from Wests Ashfield happening anytime soon ?
Yes we know it’s not a one off, but it is the first time they have been reprimanded and given instruction from PVL.
I am not expecting any other boardroom issues anytime soon, but I must admit BOF didn’t look very connected with the others based on that recent photo which was a bit concerning.
What do you know, do you think BOF will get a fair and reasonable say on any Wests Tigers related boardroom decisions, or do you think he is just wasting his time ?
I wouldn't be surprised if at board meetings they will be puckering up to kiss his arse considering BOF has PVL on speed dial.
 
The sole existence of a league club mate is to invest in the league community (and the broader community). For those reasons, they get a whole bunch of tax breaks (I think they basically pay zero tax) and can operate things like poker machines. They also have a bunch of rules that they need to follow as a registered club.

So there is no need to "convince" HBG - to invest in WT and pathways is their sole purpose for existing and members contribute on that basis (knowing it goes back to the community).

That's why people are so upset, mate. The "owners" are not owners, like you get in a company; they are elected representatives only. They are supposed to work for their members and the community, and it certainly can be argued that they are not doing that.

Typically, there is a way to remove directors who are wrongly governing, through voting. But this debenture system has created a mess where 20 guys are basically unaccountable. I'm not sure why Liquor & Gaming (the regulator) permits it.
Everything you are saying is fair, but when was the last time you saw an NRL club get in trouble for these things? I think on paper this all should happen and may happen as per the AGM.

However, I am selfish and I only care about the interests in us winning NRL games.

The debunture system from what I've read has been there since 1956. We aren't getting rid of it.

I am exploring options as to how can we make it work for us instead of against us.

HBG is upholding its Charter and investing back into the community. They seem to have their pokies business all above board so no reason for L&G to get involved. For sure the NRL can threaten them etc re being a registered Club in the NRL but I don't think NRL will ever de-register an ownership group nor a Club.

Wests Tigers need long term cash flow to be successful. All successful clubs have that. I don't think we are getting any investers on board because they won't be getting any returns. And even if we do, they'd want an ownership stake in it which HBG will not grant.

I'm not an accountant but have read plenty of business balance reports.


From my understanding:
NRL grant is $19m.
HBG has $7m profitability (as you said income tax is only 500K) and around $87m of net assets.

There is funds there to be spent on WT.

We are getting $1.7m a year from HBG. The money doesn't need to be spent onlt on the NRL team. Spend money on S&C, sports science etc for all grades. Better coaching directors and all other personnel that are not part of the $5m football department.

I don't know how any of the WT Chairperson/ CEO haven't been able to convince HBG to invest more. I hope Shaun can, by hook or by crook.
 
The debunture system from what I've read has been there since 1956. We aren't getting rid of it.

I am exploring options as to how can we make it work for us instead of against us.

HBG is upholding its Charter and investing back into the community. They seem to have their pokies business all above board so no reason for L&G to get involved. For sure the NRL can threaten them etc re being a registered Club in the NRL but I don't think NRL will ever de-register an ownership group nor a Club.
An ex-premier is seeing the dysfunction of the debenture system firsthand. Laws can change.

... and L&G can get involved if you note that the board has been dysfunctional. They are there to act in the best interests of members. Go and type into Gemini what breaches they may have given recent scandals and you'll see what I mean.

We honestly don't need investment. That's not the problem. We generated a profit last year. It's having the right skillsets on the WT board to take us forward. HBG has the majority and have shown that they struggle with governing.

We improved last year and I largely put that down to our new governance structures. You want to win? that's how we win.
 

It’s been dubbed ‘the most chaotic board in NSW’. But Wests Tigers’ owners are pushing for a pay rise

By Chris Barrett

March 7, 2026 — 4.21pm
Wests Tigers’ owners are bidding to give themselves a pay rise three months after a shambolic episode in which they sacked chairman Barry O’Farrell and three other directors before backflipping at the behest of the NRL.

The Holman Barnes Group, which owns 90 per cent of the Tigers and holds the licence for the NRL team, has for the past year been embroiled in turmoil that has threatened to spill over into the football club.

Now, its board members are seeking a boost which would see them collect more than their counterparts at most other Sydney clubs with ties to NRL teams.

HBG is proposing that its chairman’s annual honorarium be lifted from $51,341 to $65,000, the deputy chair’s fee to be raised from $33,371 to $50,000, and all other directors to get $32,500 instead of $25,670. All would also receive an extra $5000 if they sit on a club committee.

The effective $70,000 payment per annum for the chairman would eclipse the amounts paid to those in charge at most of Sydney’s major NRL-affiliated leagues clubs, including those with much larger membership bases.

Parramatta Leagues Club, which owns the Eels and has 65,000 members, gives its president $30,000 a year and other directors $20,000.

The 60,000-member Canterbury League Club, which is strongly linked to the Bulldogs and backs them financially, allows for a total of $229,801 to be paid to its seven directors including the chairman – an average of $32,828, although the chair and deputy chair receive a greater share.

St George Leagues Club, which owns 50 per cent of the Dragons and has 25,000 members, hands its chair $16,000 a year and ordinary directors $12,000, plus $2000 for each committee they sit on.

HBG has 27,000 members and the proposed honoraria for its board are exceeded only by those at Penrith NRL team owners Panthers Group, where total revenue was nearly $180 million in 2025 and which has a membership base of 148,000. The Panthers’ chairman receives $80,000 a year, its two deputies get $40,000 each and the remaining directors pick up $20,000 per annum.

Like those at other clubs, the HBG board members can take advantage of other perks of the position such as food and drinks. At the club’s annual general meeting on March 21 members will also be asked to approve its chairman and deputy receiving $500 per month hospitality cards.

As Holman Barnes Group’s business has expanded, the workload and governance responsibilities placed on directors have increased substantially,” said HBG vice-chairman Frank Primerano, who also sits on the Wests Tigers board.

“The proposed adjustments simply bring board honorariums into line with the scale of the organisation and the time commitment required, particularly as directors are increasingly involved in committees and strategic projects during this period of significant growth and investment.”

A source familiar with the activities of HBG, speaking on the condition of anonymity, said: “How can the most chaotic board in NSW simultaneously become one of the highest paid?

“If the stipend for the board were based on performance then quite obviously these people would be getting a pay cut, not a pay day.”

HBG, which oversees venues including Wests Ashfield, returned a net profit of $11.9 million in 2025 after raking in $52 million from poker machines and recording overall revenue of $100 million, according to its annual report.

But the organisation has been plagued by dysfunction during the past 18 months, with several board members controversially removed and former NSW premier O’Farrell and three other independent directors then sensationally axed from the Tigers last December less than a year after they were installed following a governance review.

After concerns were raised by the NRL, HBG reinstated them days later and O’Farrell was Tigers chairman. But the club was forced into a costly payout to Tigers chief executive Shane Richardson, who resigned amid the boardroom chaos 18 months into a four-year contract, and settled out of court with former HBG director Rick Wayde, a key instigator of the Tigers review, after he was banned for eight years.

HBG, which owns the NRL team via its control of Wests Magpies, has since beefed up its representation on the Tigers board, giving it an effective majority.

While the Tigers are governed separately to their owners, NRL funding for the team flows through HBG.

According to its latest financial report, HBG received $20 million from the NRL in 2025 and owes $36 million to players and head coach Benji Marshall over the next five years.

HBG is unusual in that the balance of power lies with 20 so-called debenture holders, who choose the majority of its directors under a decades-old, undemocratic system.

Only two of nine board seats are directly elected by the wider membership and there will not be a ballot for those spots at this month’s AGM after one of the three nominations withdrew.

The two remaining are well known to HBG board members: Shannon Cavanagh, a director of Wests Magpies alongside HBG chairman Dennis Burgess and Primerano, and Aldo Di Mento, a director of APIA Leichardt FC – the inner-west soccer team in which HGB bought a stake last year and on whose board Primerano and HBG chief executive Daniel Paton also sit.

What better way to celebrate not winning the spoon in top grade for the first time in the last 4 seasons than fattening up your wallet?

Still won the NRLW spoon didn’t we?
Mighty Maggie’s haven’t seen finals in almost the same amount of time as the first grade squad and junior reps didn’t fair so well from memory…

Imagine the self appreciation by the owners if we were actually going good!
 

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