S
system
Guest
Until one half of the JV is called upon and fails to meet a funding request as per the agreement it is a non issue
Last days of the Mighty Magpies
- Thread starter Andyvee
- Start date
Tiger_Watto
New member
@wtfl1981 said:
If WT went to its stakeholders and asked for capital, the stakeholders would conduct a vote on the amount of capital which it is prepared to inject.. With a 50/50 partnership, it only requires 50% to decline the request, which would most likely happen if Balmain didnt have the excess capital.
As a result, Balmain's struggles from a financial aspect are irrelevant as they have invested enough into the WT's. From thier position, they no longer need to inject capital into the Wests Tigers, because WT's can meet its own debts either through income or servicable loans…
People/Companies dont buy into new businesses to keep injecting funds... In most cases [well mine anyway], they make their injection/investment, and then sit back and enjoy the dividends?!
Gary_Bakerloo
New member
@Tiger Watto said:
I hope you are right. Any insights on the shortlist?
Gary_Bakerloo
New member
@Tiger Watto said:
Umm….if the business is unable to service its expenses, it requires capital from somewhere, be it debt or equity. It is certainly not the objective to continually have to inject capital, but for a rugby league club, that is the beauty of Wests Tigers ownership. The leagues clubs are contributed too by the community and hence there is a connection to the man on the street. The private ownership model (Manly and Souths) require wealthy individuals to continually wish to stump of cash.
So what if a consortium of individuals or companys buy out the Balmain share ?? it could be turned into a money making venture ! as I have posted previously the Sleeping giant across most of the Sydney basin now that would be interesting , and I see no reason why this can't happen everything is possible money talks as the Magpie connection has stated.
Tiger_Watto
New member
Its not possible for 1 party to takeover the other without a majority vote, so stop trying to stretch your drama beyond what is actually happening… Do you actually think Balmain is going to accept a offer from the Wests Group? If you do, its obvious you have banged your head against one to many brick walls over the years after all the Magpies losses.
As for your question, Balmain's debt should have NO impact on the Wests Tigers if managed correctly, considering WT's has been trading for 12 years, and can meet its debts through revenue generation or serviceable loans.
I highly doubt the constitution has anything written that makes it 'compulsory' for Balmain to contribute capital!!!
As for your question, Balmain's debt should have NO impact on the Wests Tigers if managed correctly, considering WT's has been trading for 12 years, and can meet its debts through revenue generation or serviceable loans.
I highly doubt the constitution has anything written that makes it 'compulsory' for Balmain to contribute capital!!!
This video seems to link various WT identities to the rozelle development:
http://www.youtube.com/watch?v=_de_uwl4__4&sns=em
I also have a letter from Paul Sironen pleading for all to support the development for the sake of Junior league clubs and Benny Elias handing out brochures at the Campbelltown game asking WT to support the development at rozelle (when Benny was questioned on why he was handing out balmain related material at a Campbelltown game he said a developed leagues club would help WT buy good players)
- no matter how you word it. It DOES affect WT!!
\
\
_Posted using RoarFEED 2012_
http://www.youtube.com/watch?v=_de_uwl4__4&sns=em
I also have a letter from Paul Sironen pleading for all to support the development for the sake of Junior league clubs and Benny Elias handing out brochures at the Campbelltown game asking WT to support the development at rozelle (when Benny was questioned on why he was handing out balmain related material at a Campbelltown game he said a developed leagues club would help WT buy good players)
- no matter how you word it. It DOES affect WT!!
\
\
_Posted using RoarFEED 2012_
There's a difference between something having an affect and one club being forced out of the JV. Obviously if Balmain can't put as much money into juniors it has an overall detrimental impact on the players coming into WT. But that still won't lead to the Balmain directors voting themselves out of existence at the WT board level.
weststigers4life
Active member
@galahs said:
Where can i get a copy or how can i read the constitution? I've seen certain points from the constitution mentioned on this forum in the last year & I would like to read it in whole. The two points that impressed me the most from reading the article by Josh Massoud were, the last paragraph of the story where Humphreys said " We also need to respect where we've come from, but it shouldn't constrain everyone from reaching their full potential" & also in another paragraph quoting Humphreys " Similarly, we would see the NRL team & state cup team having a significant presence in Cambletown"
\
\
_Posted using RoarFEED 2012_
Gary_Bakerloo
New member
Wests, Balmain boards to meet, decision looms on feeder teams
June 14, 2012
WESTERN SUBURBS and Balmain members have been assured that no decision on the futures of the two foundation clubs will be made at a historic meeting tonight of all Wests Tigers stakeholders.
The meeting, which will be attended by the boards of Western Suburbs football club, Balmain football club, Wests Ashfield Leagues Club, Wests Campbelltown Leagues Club and Balmain Leagues Club, will be the first time the partners in the joint venture have come together since the formation of Wests Tigers in 1999.
They will hear a proposal from Wests Tigers chief executive Stephen Humphreys for the joint-venture club to take over the running of the Western Suburbs and Balmain district football clubs - a move that would lead to a combined team playing in next season's NSW Cup competition. However, Western Suburbs DRLFC director Daniel Watson-Hayes told the Herald that the gathering was purely an information meeting and no vote would be taken.
The five boards would separately consider the proposal outlined by Humphreys at a later date but members of the Wests and Balmain football clubs will make the final decision when they vote at special meetings. Watson-Hayes said a meeting of Western Suburbs football club members had already been scheduled for June 30.
''Under the terms of the joint-venture agreement, Wests Magpies and Balmain will continue to field separate teams at every level outside the NRL,'' Watson-Hayes said. ''That can only change if the members of both clubs agree.''
The only exception to that is the under-20s National Youth Competition as it was not in existence when Wests and Balmain formed the joint venture 13 years ago and is run by the NRL.
However, the Balmain Ryde Eastwood team is effectively Wests Tigers' feeder side in the NSW Cup as all of the NRL contracted players not required by Tim Sheens each week are sent to play there - including Magpies juniors, who have to play against their own club.
The Magpies have previously considered proposals to take Canberra's surplus players, who now play for Cabramatta, or form a joint venture with the Dragons, which did not have a NSW Cup team until the formation of the Illawarra Cutters this season.
Uncertainty about the Magpies' future, compounded by the fact they no longer get any players not required by the Tigers each week, has led to the club fielding a weakened team that has regularly been on the wrong end of big scorelines this season.
Wests Ashfield Leagues Club, which effectively bankrolls Wests Tigers as Balmain Leagues Club has been closed for more than two years, agreed to fund the Magpies' NSW Cup team after supporters organised a protest rally in February to save the club.
However, Wests Ashfield directors announced that the licensed club supported a combined Wests Tigers team in next year's NSW Cup, as the Magpies continue to field junior representative teams. The Balmain NSW Cup team is funded by Ryde Eastwood.
Among the proposed changes, Humphreys is expected to outline if Wests Tigers take control of the two football clubs is a plan for the under-20s team to be based at Campbelltown.
Some officials expected the issue to be put to a vote at tonight's meeting but a statement issued by Western Suburbs football club directors sought to allay fears of members.
Meanwhile, Wests Tigers have lost talented young five-eighth Curtis Sironen to injury for Sunday's match against the Sydney Roosters at Leichhardt Oval.
The 18-year-old is to undergo minor knee surgery this week and is expected to miss the next two matches for the Tigers.
Read more: http://www.smh.com.au/rugby-league/league-news/wests-balmain-boards-to-meet-decision-looms-on-feeder-teams-20120613-20ak0.html#ixzz1xiW8iEIg
June 14, 2012
WESTERN SUBURBS and Balmain members have been assured that no decision on the futures of the two foundation clubs will be made at a historic meeting tonight of all Wests Tigers stakeholders.
The meeting, which will be attended by the boards of Western Suburbs football club, Balmain football club, Wests Ashfield Leagues Club, Wests Campbelltown Leagues Club and Balmain Leagues Club, will be the first time the partners in the joint venture have come together since the formation of Wests Tigers in 1999.
They will hear a proposal from Wests Tigers chief executive Stephen Humphreys for the joint-venture club to take over the running of the Western Suburbs and Balmain district football clubs - a move that would lead to a combined team playing in next season's NSW Cup competition. However, Western Suburbs DRLFC director Daniel Watson-Hayes told the Herald that the gathering was purely an information meeting and no vote would be taken.
The five boards would separately consider the proposal outlined by Humphreys at a later date but members of the Wests and Balmain football clubs will make the final decision when they vote at special meetings. Watson-Hayes said a meeting of Western Suburbs football club members had already been scheduled for June 30.
''Under the terms of the joint-venture agreement, Wests Magpies and Balmain will continue to field separate teams at every level outside the NRL,'' Watson-Hayes said. ''That can only change if the members of both clubs agree.''
The only exception to that is the under-20s National Youth Competition as it was not in existence when Wests and Balmain formed the joint venture 13 years ago and is run by the NRL.
However, the Balmain Ryde Eastwood team is effectively Wests Tigers' feeder side in the NSW Cup as all of the NRL contracted players not required by Tim Sheens each week are sent to play there - including Magpies juniors, who have to play against their own club.
The Magpies have previously considered proposals to take Canberra's surplus players, who now play for Cabramatta, or form a joint venture with the Dragons, which did not have a NSW Cup team until the formation of the Illawarra Cutters this season.
Uncertainty about the Magpies' future, compounded by the fact they no longer get any players not required by the Tigers each week, has led to the club fielding a weakened team that has regularly been on the wrong end of big scorelines this season.
Wests Ashfield Leagues Club, which effectively bankrolls Wests Tigers as Balmain Leagues Club has been closed for more than two years, agreed to fund the Magpies' NSW Cup team after supporters organised a protest rally in February to save the club.
However, Wests Ashfield directors announced that the licensed club supported a combined Wests Tigers team in next year's NSW Cup, as the Magpies continue to field junior representative teams. The Balmain NSW Cup team is funded by Ryde Eastwood.
Among the proposed changes, Humphreys is expected to outline if Wests Tigers take control of the two football clubs is a plan for the under-20s team to be based at Campbelltown.
Some officials expected the issue to be put to a vote at tonight's meeting but a statement issued by Western Suburbs football club directors sought to allay fears of members.
Meanwhile, Wests Tigers have lost talented young five-eighth Curtis Sironen to injury for Sunday's match against the Sydney Roosters at Leichhardt Oval.
The 18-year-old is to undergo minor knee surgery this week and is expected to miss the next two matches for the Tigers.
Read more: http://www.smh.com.au/rugby-league/league-news/wests-balmain-boards-to-meet-decision-looms-on-feeder-teams-20120613-20ak0.html#ixzz1xiW8iEIg
Gary_Bakerloo
New member
@Gary Bakerloo said:
I agree with Staks. It is crazy to think this is first time the stakeholders have met since 1999.
@Gary Bakerloo said:
Is this correct? Does not sound it to me - surely Balmain has been meeting its obligations?
Alf_Duguid
New member
Gee only 5 boards need to vote?? Good luck with that
In all of this, I think the recommendation to base the U/20's out of Campbelltown has been forgetten. This is a sensible decision and hopefully provides more visibility to the good folk of the golden West. Humphries has been known to embellish the truth from time to time, so hopefully this is one idea that is implemented
In all of this, I think the recommendation to base the U/20's out of Campbelltown has been forgetten. This is a sensible decision and hopefully provides more visibility to the good folk of the golden West. Humphries has been known to embellish the truth from time to time, so hopefully this is one idea that is implemented
@Gary Bakerloo said:
When they say bankrolls it is a bit misleading. Very little of the money needed to fund WT comes from Wests or Balmain and that percentage is decreasing all the time.
I'd think the reason the stakeholders haven't met for so long is because they have representatives on the WT board who are able to represent their interests but you'd think an annual meet-up would be reasonable.
Gary_Bakerloo
New member
@Yossarian said:
I thought it read incorrect.
In saying that, I am surprised how many on this forum continually have a "nothing to see here" with leagues club funding of WT. Only a year or two ago, $700,000 was required to be tipped in by Wests and Balmain collectively..
Sorry, but like it or not, we will need Leagues club funding in future and it is important for the financial stability of the club.
S
system
Guest
From my understanding Gary if we get a few decent home crowds and average about 16.5k for the remaining CSS & LO matches we will need to ask for no grant at all
