Wests Tigers agree deal for NRL bail-out

[tigermaniac]

Just wonder how Balmains 9.5m debt will be paid off?

Who the 3 so called independent directors will be?

How these extra loans received will be paid off?

And what will happen to the club when we will probably fail to meet our mounting debt obligations?
Will we then be shunted off to Perth to become the Western Tigers?

Don't worry mate, as long as Wests Ashfield have a say, Wests aren't going anywhere.

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[gallagher]

"The NRL has committed to loans during the restructure negotiations, based on the club meeting key targets."
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I'd like to know what they key targets are. Are they a secret?
I'm sceptical about the NRL appointed directors but this is way better than what we currently have…... I guess.

 

[magpiecol]

You will curse the day NRL "independents" get on the board of this club.

We should be recruiting intelligence, diversity and experience for the board. That is the path to efficient governance.

So you are saying that independent people do not have " intelligence, diversity or experience"?

Wow.

 

[liltiger]

You will curse the day NRL "independents" get on the board of this club.

We should be recruiting intelligence, diversity and experience for the board. That is the path to efficient governance.

I see your point, though after 14 years of our board it is the lesser of the two evil's

 

[Knuckles]

It might actually force the four Wests Tigers directors to work together for a change.

 

[Anthism]

Need the independents to keep the bias and agendas out of it.
No doubt they will be qualified for the job since they are representing the NRL and not members of the community with ties to either side over the years.
The board members from both sides will make sure we don't lose our cultural backgrounds completely and everyone wins.

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[innsaneink]

You will curse the day NRL "independents" get on the board of this club.

We should be recruiting intelligence, diversity and experience for the board. That is the path to efficient governance.

So you are saying that independent people do not have " intelligence, diversity or experience"?

Wow.

My concern is do independant people have passion, hunger & drive.

Or will they be like public servants, just there to fill a role and broker stalemates from time to time.

 

[Magpie_Magic]

I have zero faith in so called independent appointed by so called outside authorities.

The NRL is a business.
The clubs now are just a franchise promoting NRL business their way no different than a fast food franchise.
Our club was meant to be a new club intending to also preserve in a living way the heritage and identity of Balmain and Wests. Cant see why the independents would care too much about that.
This is a sad admission by Balmain that they ate happy with the way the WT identity represents them and feel they have no hope in contributing much financially.
And an even more sad admission by Wests that they dont want to be taken down financially by Balmains debt.
Targets…....independent.........these are offerings with strings attached.
I ask again how will these mounting debt obligations be serviced.
And if they cant be the other clubs upset that "their"money has been sqandered will push us out to Perth so at least they will not need to relocate.

 

[chopper]

Do you think, if you came to this club as an independent, the best move business wise would be to relocate to Perth?

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[Magpie_Magic]

Do you think, if you came to this club as an independent, the best move business wise would be to relocate to Perth?

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The other clubs whose money it is their lending us will force it upon us if we cant pay.
And the nrl directors will then push an agenda where they think they will most likely believe they will be repayed. And if we cant pay here it will be elsewhere.

Its a trap.

 

[sheer64]

I love my Wests Tigers

 

[LaT]

"So called independents"…."perth relocation"...."strings"...."agendas"

Why repeat things for which you have no evidence apart from your own paranoid delusions? How anyone can see this move as anything other than positive is just astounding. If the crotchedy old board members thought the same way, its no wonder nothing ever moved forward.

 

[wtfl1981]

The loan from NRL still has to be paid back and Balmain still need to clear their debts for the sake of WT and Balmain JL

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[LaT]

Why if only we had some cash injections to help the club during this tough period….......where ever might we get that from?

 

[Magpie_Magic]

You must be on happy pills if you see the addition of further debt on top of 9.5 m as positive

 

[LaT]

Where do you think that the NRL loan is going? Its to WT, not Balmain.

Balmain do not suddenly owe $9.5m + the balance of the NRL loan. Seriously, think about what the money is for, where it is going….and to WHOM it is going to.

Also ask yourself how it is being repaid, at what timeframe, and what interest rate....ie are we paying variable, is it at normal bankloan rates etc.

 

[LaT]

You must be on happy pills if you see the addition of further debt on top of 9.5 m as positive

Geeze, let me ask another question, How is this different to letting Ashfield lend us money in the shortterm?

We would still need to repay Wests wouldn't we. Only problem for you is this way its the NRL chipping in which means Wests don't get to take control….which is all you really care about it seems.

 

[Yossarian]

You must be on happy pills if you see the addition of further debt on top of 9.5 m as positive

Geeze, let me ask another question, How is this different to letting Ashfield lend us money in the shortterm?

We would still need to repay Wests wouldn't we. Only problem for you is this way its the NRL chipping in which means Wests don't get to take control….which is all you really care about it seems.

Yes I think that's pretty clear…

 

[Magpie_Magic]

No mate its not right.

The Wests offer was meant to be short term.

No one has answered how this massive debt will be repayed especially since balmain cant contribute for now at least and what happens if we camt pay.

 

[LaT]

How were we going to pay Ashfield back?