ROZELLE VILLAGE DELAYS TIGERS DEVELOPMENT

[Go_Moltzen]

Media release Leichhardt Council

http://www.leichhardt.nsw.gov.au/News-and-Events/Media-Releases/2016/Rozelle-Village-Delays-Tigers-Development-Again

_Rozelle Village continues to play games with Tigers fans, with their latest ploy causing delays and confusion to everyone involved in the Tigers Club saga.\
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Less than three weeks before the fate of the Balmain Leagues Club site is set to be determined, the company is again trying to change plans for the development by including a pedestrian bridge which they had previously removed from their plans.\
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Mayor of Leichhardt Councillor Darcy Byrne said that this move was just the latest in an endless series of delaying tactics.\
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"Developer Rozelle Village pretends that Council is delaying approval of their proposal, but yet again they have changed their plans, deliberately slowing the process.\
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“They know it will result in a delay in the matter being finalised by the land and environment court.\
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“Since 2009 they have now submitted a multitude of different applications to the State Government, most of them over 20 storeys.\
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'Given that this is a $177 m proposal, it is extraordinary that they still haven't managed to submit their final plans.\
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“The community, the club and fans deserve better.\
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“It’s time the Developer got its act together and settled on a sensible proposal so that development can proceed.”\
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Latest Facts\
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**10 March 2016**: Council was informed that the applicant was changing its plans again.
**16 March 2016**: The Land and Environment Court will determine whether new plans will be accepted.
**30 March - 1 April**: Land and Environment Court hearing on the application for the former Balmain Leagues Club site._

**END OF MEDIA RELEASE**
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The involvement of the Balmain Tigers Rugby League Football Club in the Wests Tigers NRL franchise is dependent upon the ability to meet a $5 million repayment of funds to the NRL by **31 March 2016**. WILL THIS DEBT BE REPAID? IF NOT, WHO WILL TAKE OVER THE BALMAIN TIGERS SHARE OF WESTS TIGERS?

 

[Yossarian]

I'd say neither Rozelle Village or LMC are in much of a position to take the high ground.

 

[GNR4LIFE]

What became of the extension request that was going to continue this circus for another 12 months?

 

[Snake]

And now the end is near one thinks.

 

[Go_Moltzen]

The Wests Tigers partnership interested parties know what will be announced.
March 31, 2016 at the latest we will too.

 

[Go_Moltzen]

<big>B**almain Tigers in emergency talks with NRL to save their share of the Wests Tigers joint venture.**</big>
March 15, 2016 5:44pm
PHIL ROTHFIELDThe Daily Telegraph

BALMAIN are in emergency talks with the NRL to save their share of the Wests Tigers joint venture and 108 years of proud rugby league history.

The foundation club has just two weeks to find the $5.4 million they borrowed from the NRL in 2014 or risk handing over the full NRL license to Western Suburbs.

In a last ditch bid to save their logo and identity, the Tigers have called in local legend and former Olympic champion Dawn Fraser to try to persuade billionaire developer Harry Triguboff to buy their half-share in the Wests Tigers and pay the money back to the NRL.

The Western Suburbs side of the merger was the de facto guarantor when Balmain borrowed the money from the NRL two years ago.

Under the lending agreement, the thriving Wests Ashfield club would take full control of the joint venture if the Tigers can’t raise the money by March 31 or sell their share within six months.

“We’re very understanding and sympathetic to their problems,” said Wests Ashfield CEO Simon Cook, “We were once kicked out of the competition ourselves so we know what it’s like.

Other options are:

# Balmain come up with the money (highly unlikely) and get their own directors back on the joint venture board.

# A new shareholder (possibly Triguboff) comes in and will decide with Wests on the new board.

# Wests take control of the joint venture and determine the composition of the board.

Whatever happens, the days appear numbered for Go and all three independent directors who were appointed as part of former NRL CEO Dave Smith’s rescue plan.

Both Balmain and Wests are determined solve the problems peacefully to ensure the players are not affected after kicking off the season so positively with two outstanding victories over the Warriors and Sea Eagles.

Unless Triguboff steps in, there is little or no hope of Balmain coming up with the money. The club is already in $11 million debt from their closed Leagues Club on Victoria Road at Rozelle.

http://www.dailytelegraph.com.au/sport/nrl/teams/tigers/balmain-tigers-in-emergency-talks-with-nrl-to-save-their-share-of-the-wests-tigers-joint-venture/news-story/9ad0cc4d29a3b307381acd38591e9894#load-story-comments

 

[Byron_Bay_Fan]

In the case of Souths there was a mass movement to save the Club, whereas with the Balmain Tigers it appears only a handful are concerned.

 

[happy_tiger]

I didn't realize that Go and the other independent directors are gone if Balmain can't meet their obligations

Would you keep them on until seasons end for stability ??

 

[innsaneink]

I didn't realize that Go and the other independent directors are gone if Balmain can't meet their obligations

Would you keep them on until seasons end for stability ??

Yeh me too
Doesn't make sense… Unless it's just the telegraph pre empting what Wests may do?

 

[hammertime]

I didn't realize that Go and the other independent directors are gone if Balmain can't meet their obligations

Would you keep them on until seasons end for stability ??

Yeh me too
Doesn't make sense… Unless it's just the telegraph pre empting what Wests may do?

I think they are referring to the fact that the 'independent' board is selected by a nominations committee comprising of Balmain, Wests & the NRL. If Wests control balmain, they may take that vote too.

I'm actually scared of us becoming controlled by a single leagues club again. The current guys seem quite good, but a structure where there are no checks and and balances in something like this is always fraught with problems.

 

[Cultured_Bogan]

I didn't realize that Go and the other independent directors are gone if Balmain can't meet their obligations

Would you keep them on until seasons end for stability ??

Yeh me too
Doesn't make sense… Unless it's just the telegraph pre empting what Wests may do?

I think they are referring to the fact that the 'independent' board is selected by a nominations committee comprising of Balmain, Wests & the NRL. If Wests control balmain, they may take that vote too.

I'm actually scared of us becoming controlled by a single leagues club again. The current guys seem quite good, but a structure where there are no checks and and balances in something like this is always fraught with problems.

Because it's been going swimmingly with Balmain and Wests there?

 

[Geo]

I didn't realize that Go and the other independent directors are gone if Balmain can't meet their obligations

Would you keep them on until seasons end for stability ??

Buzz has a deep seated hatred for Go….

In order to change the Board structure...the NRL deed and Wests Tigers constitution need to be changed it has to be agreed upon by all parties so regardless of what happens the NRL want independents at all clubs so can't see them agreeing to a change to constitution...Governance and shareholding are 2 different beasts....

You can believe Buzz tho..

 

[rex2ce]

Could be wrong here, but don't Balmain have 6 months to sell their share , that will provide defacto stability for the remainder of this season

 

[hammertime]

I didn't realize that Go and the other independent directors are gone if Balmain can't meet their obligations

Would you keep them on until seasons end for stability ??

Yeh me too
Doesn't make sense… Unless it's just the telegraph pre empting what Wests may do?

I think they are referring to the fact that the 'independent' board is selected by a nominations committee comprising of Balmain, Wests & the NRL. If Wests control balmain, they may take that vote too.

I'm actually scared of us becoming controlled by a single leagues club again. The current guys seem quite good, but a structure where there are no checks and and balances in something like this is always fraught with problems.

Because it's been going swimmingly with Balmain and Wests there?

With the independent board members? yes it has. They've had 1 year of cleaning up the mess, absorbing media/fan pressure to perform and put us on a steady path. We need more business people like that.

If you don't think we are far better now than Wests or Balmain standing alone pre-merge, you are kidding yourself.

 

[Cultured_Bogan]

Yeh me too
Doesn't make sense… Unless it's just the telegraph pre empting what Wests may do?

I think they are referring to the fact that the 'independent' board is selected by a nominations committee comprising of Balmain, Wests & the NRL. If Wests control balmain, they may take that vote too.

I'm actually scared of us becoming controlled by a single leagues club again. The current guys seem quite good, but a structure where there are no checks and and balances in something like this is always fraught with problems.

Because it's been going swimmingly with Balmain and Wests there?

With the independent board members? yes it has. They've had 1 year of cleaning up the mess, absorbing media/fan pressure to perform and put us on a steady path. We need more business people like that.

If you don't think we are far better now than Wests or Balmain standing alone pre-merge, you are kidding yourself.

I wasn't talking about the independents. I agree things have improved under them. Prior to that, where was everything headed?

 

[TrueTiger]

I do have to agree with CB,when it was Wests and Balmain on the board,there was to much hatred toward each other " Wests,we have the money,Balmain we have the player pool" etc,etc..the only way it CAN work is if that old mindset is totally disposed of and they form the board as one directive and that is the future of the Wests Tigers…no more of the we have they haven't type garbage that has almost completely ruined this club..Personally I would love to see the board equally represented by both foundation clubs,working hard TOGETHER to take this JV club successfully into the future...if it does happen that way I will be extatic ,if it doesn't I hope we still have a WESTS TIGERS to support and buy membership for...

 

[Doc_Tiger]

Its such a shame the bloke with the cash isn't prepared to (it seems) inject the cash required to save Balmain. Such a shame. I mean, you can't take it with you right? I hope things work themselves out. Carn Dawn…..

 

[hammertime]

I think they are referring to the fact that the 'independent' board is selected by a nominations committee comprising of Balmain, Wests & the NRL. If Wests control balmain, they may take that vote too.

I'm actually scared of us becoming controlled by a single leagues club again. The current guys seem quite good, but a structure where there are no checks and and balances in something like this is always fraught with problems.

Because it's been going swimmingly with Balmain and Wests there?

With the independent board members? yes it has. They've had 1 year of cleaning up the mess, absorbing media/fan pressure to perform and put us on a steady path. We need more business people like that.

If you don't think we are far better now than Wests or Balmain standing alone pre-merge, you are kidding yourself.

I wasn't talking about the independents. I agree things have improved under them. Prior to that, where was everything headed?

I completely agree mate. There were really no checks and balances there either. A 50/50 split which was largely factional. Just internal squabbling of people with little to no business nous. I don't want it to go back to that either.

A private investor will be perfect for Balmains share to take this club forward.

 

[balmain boy]

Without the independents the club will likely implode again. They need to stay. Both the Wests and Balmain board members have shown they are incapable of running a successful team in the past. We're actually moving forwards for the first time in 15 years.

And i'd rather Harry come on board with TPA's than as a joint owner.

I wonder if people realise that even if Harry 'bails' out Balmain we's still have lost their part in the joint venture too… Harry isn't just going to write a blank cheque and let those nobodies squander it all away through their usual mismanagement. He'll take control and have ownership of their half. Balmain will have nothing, but their replacement will be a sympathiser for their cause.

 

[Doc_Tiger]

Without the independents the club will likely implode again. They need to stay. Both the Wests and Balmain board members have shown they are incapable of running a successful team in the past. We're actually moving forwards for the first time in 15 years.

And i'd rather Harry come on board with TPA's than as a joint owner.

I wonder if people realise that even if Harry 'bails' out Balmain we's still have lost their part in the joint venture too… Harry isn't just going to write a blank cheque and let those nobodies squander it all away through their usual mismanagement. He'll take control and have ownership of their half. Balmain will have nothing, but their replacement will be a sympathiser for their cause.

And if that was to be the case, I'd be happy as Im sure most would given his track record for success in business.