What we need
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dazza65
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I'll buy them
What are they worth?
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What are they worth?
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AmericanHistoryX
Well-known member
half a teaspoon of concrete, teaspoon of water.
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@dazza65 said:
Could you even actually do it? The way its set up, I don't thing you could. Say you had 20 million, maybe?? (That's waaay more than the club is actually worth, as it barely turns a profit.)
You would first have to pay out balmains 10 mil debt, then the board members would want something to convince them to dissolve, say another 3 mil. So that's a total of 13 mil for the balmain side.
Obviously wests wouldnt sell up for less than you gave an almost defunct club so they would want say 15 mil to convince them, after that you then have to get the NRL on board as they have a say in it now too. However I think they would come on board pretty quickly as they would want it to be run independently. So lets just pay them 2 mil.
So now you have paid 20 million dollars for a club that doesn't own anything, (Im sure you wouldnt get wests or balmains assets) has an earning potential that is only just positive and also needs about another 20 million dollars investment into facilities, players, coaches ans sports science. Its not like Crowe and souths who essentially just had to pay out 1 club. essentially you have to pay double or triple! Much better way to do it would be to throw 5 million into a franchise bid and start from scratch and do it properly not paying for others mistakes.
P.s.Not sure why we don't look at an established Rugby ex aussie coach to run the team, and then employee a fitler / payton / any other coach to teach the plays or other finesse of the NRL. at this level a coach is not really a coach, he is more a manager, and Rugby coaches don't get paid much.
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