I think this was all fully expected. Best thing for the Balmain Football Club is to let the Leagues Club die and take its debt with it. Maybe give the developer and the Council a few black eyes in the process.
I know people are talking about Harry buying out the Balmain Club etc etc. and offering some financial stability in the short term, well my preferred outcome would be for Wests Ashfield to buy Balmain out. The purchase price would simply be the debt Balmain owes to the NRL.
Change their name from Wests Ashfield to Wests Tigers (i.e. Wests Tigers owning the Wests Tigers), rebrand the Leagues Club at Ashfield, and form one identity going forward. This coupled with the move to a single home ground, single reserve grade and Toyota cup sides, and hey presto, we have something that actually resembles a united Footy Club!
Not counting on it to happen, but hey we can all dream.