The underlying issue is that in 1999 a landscape was agreed upon. This included, primarily, a 50/50 governance structure and the ongoing existence of the foundation clubs in the second tier comp.
HBG and the Magpies FC cling steadfastly on to this structure.
Obviously, Balmain has essentially disappeared and a heck of a lot of water has gone under the bridge since this deal was done. Simply, it doesn’t work any longer as WT has completely outgrown what was put in place over 25 years ago.
Eventually, natural attrition will wipe out the old and WT will become its own entity, it’s just a matter of how and when we get there.