I doubt that Watto. Paying off their debt to the NRL would be enough. Otherwise they set the price for a billion and never have to sell. The NRL would have that in the agreement.
The only way that could happen is if the NRL sued Balmain for the debt and they were forced to declare bankruptcy.
Do you really think the NRL will go down that path?
The only card the NRL will play is canceling the license… That leaves both parties with zero equity!
Depends on the agreement and I’m not pretending to know what’s in it. But if Balmain can’t repay the loan by March I think they relinquish their share. I don’t think it’s a case of them selling but them being bought out. The NRL want their money back and want to get out of the club. I can’t see them not having all bases covered in their favour.
Packer paid $7.5mil for 37% of the bunnies
Like it or not, we are not valued anywhere near to the Souths brand. So uncle Harry could pull off a bargain.
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Maybe. Maybe not. He won’t be the only interested party? Koukash and consortiums from perth Queensland and nz would all be interested in an NRL license. How many people would have been interested in 37% of a license?
Interesting that many on this forum who complain about accepting mediocrity and having a losing culture, mismanagement, no funds to buy marquee players and upgrade facilities, the inequity of the competition due to the cashed up clubs, the failure of the joint venture over a period of years etc - are approached by a multi billionaire who loves the game and wants this club to succeed as a united team- and suddenly what we are is worth persisting with. Go figure . I wonder when the next multi -billionare will come along who wants to buy Wests Tigers - never.
Martin Koukash will be interested. But i suspect some here only want to sell to Harry for some reason thats not related to balmain.
Half the reason the Balmain side of the venture is a basket case is because we got into bed with Benny, I would be looking for traps if Benny is advising the club to run with it. Great footballer but ,
He’ll be sniffing around harry that’s for sure.
I think balmain need to put their hands up for the good of the club and respectively withdraw from the joint venture. They won’t come up with the money by March so just put us all out of our misery. Then at least we can get the ownership sorted out before next season.