White knight could save Balmain Tigers

[mctiger]

BALMAIN LEAGUES CLUB KEEPS MUM

By ADRIAN PROSZENKO SMH - 3 May 2014

We revealed during the week that talks between Balmain Leagues Club and Rozelle Village had recommenced after a white knight offered to buy out the property developer.

After two days of negotiations the parties clammed up, citing confidentially agreements. Hopefully an amicable decision can be reached to finally develop the Victoria Road premises and ensure the future of a 108-year old club.

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[crusader]

Wright is the director , not the owner. He's just a puppet.
And I wouldn't think that it is Meriton as I don't believe he would negotiate for one second with the grubs that own it now.
Had Harry been involved from the start, this project would have been finished years ago.
Whomever brokered the original deal should be held accountable .

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It's not as simple as all that. The initial agreement was with a large multi national company who looked as solid as a rock. Pretty much the day everything was to be signed the GFC hit. A few years earlier and we could be having this discussion in the foyer of the new club.

Errrr which big multinational company was that??
It has nothing to do with the GFC.
The REAL investors ( developers) have recently been smashed at ICAC recently. That is why O'farrell couldn't approve this site. It goes through state gov not local gov. My previous point was that Balmain cut Harry out of the development to get in bed with these grubs and I can't see him negotiating any deals with them.
It wasn't the GFC that ruined this development , it was the change of state gov from labour to liberal.

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[mctiger]

It's not as simple as all that. The initial agreement was with a large multi national company who looked as solid as a rock. Pretty much the day everything was to be signed the GFC hit. A few years earlier and we could be having this discussion in the foyer of the new club.
\
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Errrr which big multinational company was that??
It has nothing to do with the GFC.
The REAL investors ( developers) have recently been smashed at ICAC recently. That is why O'farrell couldn't approve this site. It goes through state gov not local gov. My previous point was that Balmain cut Harry out of the development to get in bed with these grubs and I can't see him negotiating any deals with them.
It wasn't the GFC that ruined this development , it was the change of state gov from labour to liberal.

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This is taken from the Tigers site. You may want to read the whole history to get your facts straight.

"In 2008, the Tigers commenced a relationship with Reed Construction on the development, which was to be funded by Lehman Brothers. Prior to the final sign off, unfortunately the Global Financial Crisis (GFC) hit and for all of us everything changed. We had run out of options, at the last moment Rozelle Village offered us a lifeline"

http://tigers.org.au/index.php/venues/balmain/whats-in-it-for-me/about-balmain-leagues-club/

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[Ric_Sissons]

The directors / owners of Rozelle Village are Ian Wright and the Japanese investor who is his father in law. Sorry can't recall his name. To date they have shown no indication they will just sell and move on - of course that would be great if they did.
I would not jump to the conclusion that the white knight is Harry Triguboff - you would not really describe him as a local builder.

 

[Yossarian]

Wright is the director , not the owner. He's just a puppet.
And I wouldn't think that it is Meriton as I don't believe he would negotiate for one second with the grubs that own it now.
Had Harry been involved from the start, this project would have been finished years ago.
Whomever brokered the original deal should be held accountable .

_Posted using RoarFEED V.4_

It's not as simple as all that. The initial agreement was with a large multi national company who looked as solid as a rock. Pretty much the day everything was to be signed the GFC hit. A few years earlier and we could be having this discussion in the foyer of the new club.

Errrr which big multinational company was that??
It has nothing to do with the GFC.
The REAL investors ( developers) have recently been smashed at ICAC recently. That is why O'farrell couldn't approve this site. It goes through state gov not local gov. My previous point was that Balmain cut Harry out of the development to get in bed with these grubs and I can't see him negotiating any deals with them.
It wasn't the GFC that ruined this development , it was the change of state gov from labour to liberal.

Errr no it wasn't. For someone who seems to think they know everything you should know it's Labor not Labour for starters. Lehman Brothers was the company - they were one of the biggest global financial companies in the world. The agreement was in place then the GFC hit, Lehman Bros went bellyup, the deal fell through and the Leagues Club had to sell to Rozelle Village.

Your previous point is moot. The initial agreement was perfectly sound and in many ways it made sense not to involve Meriton. The change of governments did not have a major impact on the approval or otherwise of the development.
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[Abraham]

So no updates as to what is happening with the site?

Surely the club could give us some sort of an update, considering the importance of this very issue on the survival of Balmain.