HUMPHREYS UNDER THE PUMP

[LaT]

Still a chance cronulla may go under financially by end of year..

_Posted using RoarFEED 2013_

I don't see how though. The development deal passed ($300m), they got an injection of $10m cash immediately to reduce their debt to a serviceable $3m and are now pretty secure financially.

There are definitely challenges for them short term but to go under would be near impossible IMO.

Do you read this in Bourbon Becs article today?

I posted last night before article was released. Sharks were only brought in to break up dominance of st.george in 50s/60s… Completely moved on from those days.

Apart from upsetting fans, there is no strategic benefit in bailing out sharks... The NRL did not save balmain, Wests, Norths, St.George, Steelers or the original Gold Coast so why should they ensure Cronulla live on?

Survival of the fittest... Re-locate to Perth or drop to nsw cup and allow another team to enter NRL

_Posted using RoarFEED 2013_

I'm not saying anything about their location or purpose. I'm talking about your comments about their financials.

Why are they a chance to go under this year financially? $300m development is approved, and their debt just went from $13m to $3m with a $10m cash advance. I agree they have issues, but I can't see anything that would force them under given their assets.

 

[tig_prmz]

agree with T-rex there.

obviously the board is the problem. re-signing, dumping then crying foul.

also the fact that we have 5 mags and 5 balmain. stupidity at its finest. said this a few months ago when sheens was sacked. it should be 10 WT board members.

 

[wtfl1981]

agree with T-rex there.

obviously the board is the problem. re-signing, dumping then crying foul.

also the fact that we have 5 mags and 5 balmain. stupidity at its finest. said this a few months ago when sheens was sacked. it should be 10 WT board members.

How do u make sure the 10 WT board members are independent to Balmain and Wests Group? Especially if Wests Ashfield are buying out balmain's debt.

_Posted using RoarFEED 2013_

 

[Tiger_Watto]

agree with T-rex there.

obviously the board is the problem. re-signing, dumping then crying foul.

also the fact that we have 5 mags and 5 balmain. stupidity at its finest. said this a few months ago when sheens was sacked. it should be 10 WT board members.

How do u make sure the 10 WT board members are independent to Balmain and Wests Group? Especially if Wests Ashfield are buying out balmain's debt.

_Posted using RoarFEED 2013_

Ashfield isnt buying out Balmains Debt… They are providing a Loan is my understanding?

 

[Gary_Bakerloo]

agree with T-rex there.

obviously the board is the problem. re-signing, dumping then crying foul.

also the fact that we have 5 mags and 5 balmain. stupidity at its finest. said this a few months ago when sheens was sacked. it should be 10 WT board members.

How do u make sure the 10 WT board members are independent to Balmain and Wests Group? Especially if Wests Ashfield are buying out balmain's debt.

_Posted using RoarFEED 2013_

Ashfield isnt buying out Balmains Debt… They are providing a Loan is my understanding?

Wests are going guarantor.

I don't think you will get 10 independent Wests Tigers directors. The equity holders will not approve. However a simple measure would be that the rotation of Board Chairman between the equity holders cease and is replaced by 1 independent director. That way, the independent director has the casting vote if required.

 

[tig_prmz]

agree with T-rex there.

obviously the board is the problem. re-signing, dumping then crying foul.

also the fact that we have 5 mags and 5 balmain. stupidity at its finest. said this a few months ago when sheens was sacked. it should be 10 WT board members.

How do u make sure the 10 WT board members are independent to Balmain and Wests Group? Especially if Wests Ashfield are buying out balmain's debt.

_Posted using RoarFEED 2013_

just name them 10 WT board members. LOL

at the end of the day.. right from the board to the coaching staff to WT 1st grade to Wt state cup to WT U20's. how did we make sure the State Cup side is 17 WT players?

it's a no brainer that the current board is ridiculously stupid

 

[wtfl1981]

Its the mandatory rotating chairman thats seen as 'the issue' not so much the board make up

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