@Balmain Bug said:
Can you provide detail please Bug? Not being a smartarse, I would like to see the financials… Wouldn't know where to look...
Can you give me a link?
TOUGH TIMES
- Thread starter Ed_Reschs
- Start date
Can you provide detail please Bug? Not being a smartarse, I would like to see the financials… Wouldn't know where to look...
Can you give me a link?
Balmain_Bug
New member
Wests Campbelltown - Total Assets $65 Million dollars. ($9 Million dollar profit in 2011)
Wests Ashfield - Total Assets $51 Million dollars. ($3 Million dollar profit in 2011)
Balmain - Total Assets $4 Million dollars. (Total Liabilty is over $10 Million dollars)
They are in absolute dire straights.
The problem is its a 50/50 Joint venture.
What happens now ?
Wests Ashfield - Total Assets $51 Million dollars. ($3 Million dollar profit in 2011)
Balmain - Total Assets $4 Million dollars. (Total Liabilty is over $10 Million dollars)
They are in absolute dire straights.
The problem is its a 50/50 Joint venture.
What happens now ?
simonthetiger
New member
NOthing about the Wests Tigers there BUg…..as usual.
Montague_Street
New member
@Balmain Bug said:
And that's because the Fonz doesn't have four props on the interchange bench? Or because the Fib played for Balmain?
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Balmain_Bug
New member
@Cultured Bogan said:
http://www.sportsnewsfirst.com.au/articles/2011/10/13/we-are-not-the-problem-say-nrl-clubs/
Balmain_Bug
New member
@simonthetiger said:
simonthetiger
THE WESTS TIGERS HAVE NEVER RETURNED A PROFIT !!!!!!!!!!!!!!!!!!!!!!!!! :unamused:
Campbelltown is the richest of the 3 leagues clubs now ?
The 3 Leagues clubs over the years only put enough in to balance the books of the Wests Tigers.
Leagues club funding will not he required in the future with increased funding by the ARLC from the new TV deal.
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The 3 Leagues clubs over the years only put enough in to balance the books of the Wests Tigers.
Leagues club funding will not he required in the future with increased funding by the ARLC from the new TV deal.
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Balmain_Bug
New member
@Staks said:
You should be right STAKS. The clubs should be save by the new TV rights and this is what they are all waiting for.
But we dont know how they will divvy up the cash and it all depends on if the salary cap goes up and by how much etc.
Balmain_Bug
New member
Only clubs to ever post a profit is Souths and Brisbane.
Balmain_Bug
New member
@Cultured Bogan said:
http://www.smh.com.au/rugby-league/league-news/nrl-and-clubs-at-impasse-over-funds-20111020-1mafi.html
Balmain_Bug
New member
@simonthetiger said:
please see the two previously attached links.
Balmain_Bug
New member
@spearby said:
There was talk of possible compensation to Balmain in 2010\. But it appears that there has not been an acknowledgement by the government of the damage they had caused. I am only guessing a change of government from Labor to Liberal has also caused major problems in seeking compensation.
The main issue for those that dont know was the Balmain Leagues Club closed after been given notice to vacate the site to make way for Sydney Metro. The metro project was then cancelled a matter of weeks after irreversible decisions had been made regarding the closing of the club.
The club premises has sat derelict and idle for a long time now and the Balmain directors state that it is doing so in circumstances where if the provision of proper notice had been given to them, it didn’t need to be that way.
Its a huge mess and I would say and irreversable mess.
I would guess to say Balmain will never be able to financially recover from this problem.
Hopefully as Staks has said, the new TV deal will prop up the Wests Tigers and they will be self sufficient.
Gary_Bakerloo
New member
@smeghead said:
I thought he was on the money with the story about the state cup teams and Wests Ashfield.
Gary_Bakerloo
New member
@Balmain Bug said:
Bug,
In one sentence you have explained the current business plans for Manly and Cronulla. They are holding on for as long as possible under the irrational notion the new tv deal will save all the clubs.
In reality, it is wrong. Whatever the grant that is provided to clubs through the new tv deal will just flow through to player wages. If the grant is $6m, the salary cap will end up being $5.5m - from the players' perspective, that was the whole point of Super League! The Players Association is already rattling the cage after seeing estimated club grant amounts thrown around in the press. After a transition period of a year or two, the salary cap will be around the 95% of the club grants.
The end result will be that the financial circumstances for all clubs will remain the same. Clubs will still have to cover all off field expenses with their own revenue sources.
The reality is that the finances of the game is too much for what it can bring in. Super League inflated salaries to a barely unsustainable level. Leagues clubs are not as critical as past years but still very important to most nrl and nsw cup clubs.
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