HBG, Independent Directors Sacked

[cdinoz007]

Sydney Roosters.

Statement on Page 4 of the Financial Statements of the Easts Group

The Easts Group of Clubs reported a post-tax profit of over $4.7 million in 2024, contributing to a combined profit of more than $53 million across the Easts Group and Sydney Roosters over the past six years. The Football Club has not required financial assistance from the Leagues Club during this time.

It appears that the Roosters are a self sustaining football club. Obviously gate revenues, corporate entertainments and sponsorship plus NRL Grants are sufficient to manage the football operations.

The Leagues club do not seem to consolidate income from the football club operations into their financial report. There is no income line for ticket sales, corporate sponsorship and NRL Grants

Several years ago, Simon Cook, ex CEO of Ashfield stated his wish was to see Wests Tigers be financially viable to operate indpendantly without the financial support of the Leagues club, to allow the leagues club to fund other local community organisations instead.

 

[wstigers11]

Sydney Roosters.

Statement on Page 4 of the Financial Statements of the Easts Group

The Easts Group of Clubs reported a post-tax profit of over $4.7 million in 2024, contributing to a combined profit of more than $53 million across the Easts Group and Sydney Roosters over the past six years. The Football Club has not required financial assistance from the Leagues Club during this time.

It appears that the Roosters are a self sustaining football club. Obviously gate revenues, corporate entertainments and sponsorship plus NRL Grants are sufficient to manage the football operations.

The Leagues club do not seem to consolidate income from the football club operations into their financial report. There is no income line for ticket sales, corporate sponsorship and NRL Grants

Several years ago, Simon Cook, ex CEO of Ashfield stated his wish was to see Wests Tigers be financially viable to operate indpendantly without the financial support of the Leagues club, to allow the leagues club to fund other local community organisations instead.

Richo tried to generate income, and did, and they rissoled him 🤦‍♂️

 

[cdinoz007]

Any idea why we get a grant of $19.6 and the dogs get $18.2?

From what I know, (and what I know is apparently up for debate😎) - the NRL issues the grant taking into consideration the junior development programs, and the size of the geographic nursery of each club.

Canterbury has it would seem a smaller number of juniors in its catchment.

I am sure its more complex than that, but that is one reason it was explained to me many years ago.

 

[cdinoz007]

Richo tried to generate income, and did, and they rissoled him 🤦‍♂️

What revenue was Richo trying to generate that we dont know? Can you provide evidence? or is this just heresay?

 

[gallagher]

Sydney Roosters.

Statement on Page 4 of the Financial Statements of the Easts Group

The Easts Group of Clubs reported a post-tax profit of over $4.7 million in 2024, contributing to a combined profit of more than $53 million across the Easts Group and Sydney Roosters over the past six years. The Football Club has not required financial assistance from the Leagues Club during this time.

It appears that the Roosters are a self sustaining football club. Obviously gate revenues, corporate entertainments and sponsorship plus NRL Grants are sufficient to manage the football operations.

The Leagues club do not seem to consolidate income from the football club operations into their financial report. There is no income line for ticket sales, corporate sponsorship and NRL Grants

Several years ago, Simon Cook, ex CEO of Ashfield stated his wish was to see Wests Tigers be financially viable to operate indpendantly without the financial support of the Leagues club, to allow the leagues club to fund other local community organisations instead.

Chooks are a smart club. We are not. Bottom line for me is the clubs that play at the major stadia will always generate more money than us. We choose to do little about that.

Anyway ,I think you have blown apart this theory that our owners underfund the football club compared to all the other clubs.

 

[wstigers11]

What revenue was Richo trying to generate that we dont know? Can you provide evidence? or is this just heresay?

Corporates, membership, merchandise and crowds were all up. We didn’t make a profit by accident?

 

[cdinoz007]

Corporates, membership, merchandise and crowds were all up. We didn’t make a profit by accident?

See my comment above.

In FY25 the football club was granted a bonus $1.2 million from the NRL as a result of the Federal Govt funding the PNG Franchise.

Ironically in that same year, we announced we had made a profit.

Thing is, we will never know the root cause becuase the football club being a 90% owned entity publish a consolidated P&L under the Holman Barnes Group.

All Richo and anyone from HGB should say is "we have had a record year when it comes to corporate revenue, ticket sales and sponsorship" The profit thing is a silly thing to try to say, from anyones mouth.

We dont know FY25 figures yet as HBG publish those around late Feb early March normally. But here is the last 4 years numbers which have been extracted from the HBG annual reports:

​

Sponsorsip dipped a couple of hundred '000 between 23 and 24, but ticketing has grown nicely as does the corporate hospitality.

Anecdotely, we know that playing games at both Leichhardt and Campbletown offers us a lower income potential than playing at Commbank.

The irony of course is most fans hate us playing at Commbank, but financially its much better.

 

[hank37w]

Chooks are a smart club. We are not. Bottom line for me is the clubs that play at the major stadia will always generate more money than us. We choose to do little about that.

Anyway ,I think you have blown apart this theory that our owners underfund the football club compared to all the other clubs.

Hasn't Nick Politis been investing money in properties over the years to generate income for the Roosters so that they are financially independent and remain so well into the future when he is no longer around?

We could of had Arthur Laundy an old Tigers man from way back, you are correct, we are not a smart club.

 

[gallagher]

Hasn't Nick Politis been investing money in properties over the years to generate income for the Roosters so that they are financially independent and remain so well into the future when he is no longer around?

We could of had Arthur Laundy an old Tigers man from way back, you are correct, we are not a smart club.

Nick wasnt using his money, but.he got the club in the right direction of investing though. They are light years ahead of us.

 

[cdinoz007]

How could he be any worse than what HBG has now, with the pathetic decisions made to destroy the Tigers board that was making the difference, so unprofessional, that just made no sense at all surely you can't be happy with them running the place.

How could he be worse?

He either was directly responsible for the bullying and harrasment and deliquency at Opal Care, or he oversaw a business which was bullying, harrased residents and didnt provide the duty of care, which he was end of the day responsible for.

You want that kind of a person involved? The protesting group keep banging on about the governance of the HBG. You dont think his Governance and oversight at Opal was worse?

 

[cdinoz007]

of course they are not and i would be amazed if cronulla are putting anything up at all and yet they are constantly in the 8.

See my previous post for a breakdown from the Sharkies income statements:

C

Post in thread 'HBG, Independent Directors Sacked'

Saturday at 3:39 PM

Cheers Ink. I missed that.

So $1.8 million isn't a small amount, less than some clubs but probably more than others.

If a club can't make a go of it when they get close to $20mill in grants from its owners and governing body the maybe the board / management arnt up to scratch. I'd be suggesting that to PVL when asked why the board was removed.

Now this isn't me backing HBG's group actions but it's another angle to look at things.

You also asked about other clubs.

Lets examine the Sharks books:

Game Day Ticketing - $2,680,624
Sponsorship and Corporate Hospitality - $7,174,136...

• cdinoz007

No line entry for the amount of monies that the Sharks leagues club subsidise into the football club. At least HB offer a level of transparency on where their monies go.

Wests Tigers generate similar sponsorship and corporate revenue than the Sharks, but WTs generate about 20% more in ticketing than the Sharks.

 

[Telltails]

How could he be worse?

He either was directly responsible for the bullying and harrasment and deliquency at Opal Care, or he oversaw a business which was bullying, harrased residents and didnt provide the duty of care, which he was end of the day responsible for.

You want that kind of a person involved? The protesting group keep banging on about the governance of the HBG. You dont think his Governance and oversight at Opal was worse?

What people do you want involved?
He is one person. Instead of focussing on him tell us which people who have been eligible to make decisions on behalf of this club deserve to be retained under the governance that is currently in place?

 

[innsaneink]

Hasn't Nick Politis been investing money in properties over the years to generate income for the Roosters so that they are financially independent and remain so well into the future when he is no longer around?

We could of had Arthur Laundy an old Tigers man from way back, you are correct, we are not a smart club.

I think.i read once the entire block.of retail where easts leagues sits in Bondi Jn is owned by their club

 

[cdinoz007]

Hasn't Nick Politis been investing money in properties over the years to generate income for the Roosters so that they are financially independent and remain so well into the future when he is no longer around?

We could of had Arthur Laundy an old Tigers man from way back, you are correct, we are not a smart club.

No "Nick Politis" hasnt been investing money in propeties to generate income for the Roosters.

The Easts Leagues club has been investing money in property to ensure Easts Leagues Club remains financially viable.

The statement on the Easts Leagues Club makes it plain. Roosters are self sufficient. This suggests Corporate Hospitality, Ticketing Sales and Sponsorships adequately cover the costs of running the football club.

Roosters as an football club entity from what can be seen from the Easts financial statements dont own property.

Dont forget, the legal entity that is the Roosters owns Easts Leagues Club.

 

[cdinoz007]

What people do you want involved?
He is one person. Instead of focussing on him tell us which people who have been eligible to make decisions on behalf of this club deserve to be retained under the governance that is currently in place?

Honestly? There is nothing wrong with the current board members at HBG that I can see makes cause for anyone to demand they resign.

Lets ignore the "Dennis" story for a moment:

Francesco Primerano - Lawyer and Businessman
Stephen Montgomery - Lawyer and Barrister
Vince Tropiana - ex Ford Motor Company (I know plenty from the industry who know and worked with Vince and he apparently was well respected in the motor industry)
Mick Liubinskas - Ex Magpies enforcer, Businessman (IT industry). Havent met a more honest and direct bloke as Mick. Have known Mick about 20 years.
Rick Yabsley - Chartered Accountant. Honest hard working guy from what I have been told about him
Peter Di Michiel - Wests Magpies club doctor. Medic and General Practictioner

Now, lets go back to Denis. Yes, I read the nonsense about looking at young ladies on Instagram. I have known Dennis some 20 years or so. He is a music guy and that is who he is. Does he like the ladies? Yeah he does. He is off that generation of old rockers who arent scared to tell a pretty girl she is pretty (and apparently that offends some people). And he has always been a passionate Magpies supporter. Yes, in his perfect world, I think he would like to see the Maggies back in the NRL, but he also knows that that is also pipe dream.

I dont see any of these blokes being poor for the leagues club. Would it be good to see a female somewhere on the board? Yeah, of course. But I also dont wanna see a woman appointed just becuase she is a she for DEI reasons.

I have no issue supporting these guys to get the leagues club functioning. Certainly I know at least one of them was very proactive in trying to stop the culture of bullying at the leagues club... which was very much covered up and that cover up was facilitated by TA and RW.

 

[Rock Hopper Steve]

How could he be worse?

He either was directly responsible for the bullying and harrasment and deliquency at Opal Care, or he oversaw a business which was bullying, harrased residents and didnt provide the duty of care, which he was end of the day responsible for.

You want that kind of a person involved? The protesting group keep banging on about the governance of the HBG. You dont think his Governance and oversight at Opal was worse?

Isn't he nominated as interim, what's your worry, my only hope is the debenture system gets the arse, a board put together by that dinosaur system has resulted in shit decisions for years by people who just aren't suited to such important football club matters.

 

[area52]

Richo tried to generate income, and did, and they rissoled him 🤦‍♂️

Yeh its hard to consolidate they way ashfield treated a WT board of that calibre.

 

[area52]

Honestly? There is nothing wrong with the current board members at HBG that I can see makes cause for anyone to demand they resign.

Lets ignore the "Dennis" story for a moment:

Francesco Primerano - Lawyer and Businessman
Stephen Montgomery - Lawyer and Barrister
Vince Tropiana - ex Ford Motor Company (I know plenty from the industry who know and worked with Vince and he apparently was well respected in the motor industry)
Mick Liubinskas - Ex Magpies enforcer, Businessman (IT industry). Havent met a more honest and direct bloke as Mick. Have known Mick about 20 years.
Rick Yabsley - Chartered Accountant. Honest hard working guy from what I have been told about him
Peter Di Michiel - Wests Magpies club doctor. Medic and General Practictioner

Now, lets go back to Denis. Yes, I read the nonsense about looking at young ladies on Instagram. I have known Dennis some 20 years or so. He is a music guy and that is who he is. Does he like the ladies? Yeah he does. He is off that generation of old rockers who arent scared to tell a pretty girl she is pretty (and apparently that offends some people). And he has always been a passionate Magpies supporter. Yes, in his perfect world, I think he would like to see the Maggies back in the NRL, but he also knows that that is also pipe dream.

I dont see any of these blokes being poor for the leagues club. Would it be good to see a female somewhere on the board? Yeah, of course. But I also dont wanna see a woman appointed just becuase she is a she for DEI reasons.

I have no issue supporting these guys to get the leagues club functioning. Certainly I know at least one of them was very proactive in trying to stop the culture of bullying at the leagues club... which was very much covered up and that cover up was facilitated by TA and RW.

I like ladies too

 

[cdinoz007]

Isn't he nominated as interim, what's your worry, my only hope is the debenture system gets the arse, a board put together by that dinosaur system has resulted in shit decisions for years by people who just aren't suited to such important football club matters.

....becuase a Balmain board voted in by its members did such a stellar job keeping the doors open.

How about stop buying into the nonsense that it was the Debenture System which was causing all these issues. Is a total red herring.

its ironic that the 2x board members who caused most of the damage were voted from the floor and were NOT debenture holders.

Remember Parramatta and their boardroom issues? Voted in by the members.

 

[Rock Hopper Steve]

....becuase a Balmain board voted in by its members did such a stellar job keeping the doors open.

How about stop buying into the nonsense that it was the Debenture System which was causing all these issues. Is a total red herring.

its ironic that the 2x board members who caused most of the damage were voted from the floor and were NOT debenture holders.

Remember Parramatta and their boardroom issues? Voted in by the members.

2 members hardly forms a majority, no one here has any interest with your deflecting to the past what happened before Christmas is what we are concerned about and don't want to happen again.

You don't see how stupid those decisions were, hello take off your rose-coloured glasses.