MWDRLFC and the fans ?

[WESTIE]

With the leagues club virtually putting no money in like they used to. ..and the football club holding 2 seats on the board out of 7....is the footy club in any realistic position to buy back the shares, as I understand they were / are able to do ?
If so. ..is their only source of income to buy these shares coming from football club memberships ? Does anyone know what amount of money it would take to buy it back from the penns ? Are the value of these " shares " fixed...? Is it realistic to think we ( the fans and MWDRLFC ) could ever own our club again...esp in light of what our owners are doing

 

[Eagles2nv]

Did you intentionally place your post as a quote?

 

[Ralphie]

Sadly, no chance.

 

[qldeagle]

Owning a RL team is like owning a race horse. It's a never ending spiral of lost money.

 

[WESTIE]

Did you intentionally place your post as a quote?

....was a post in another thread before I deleted it and created a seperate thread.

 

[WESTIE]

Are there any qualified accountants amongst us ? Is the MWDRLFC a non for profit organisation and if so...if a person made a donation ...what percentage of any donation would be tax deductable ?

 

[pjayz]

Did you intentionally place your post as a quote?

He is speaking in third person....

 

[Terry Zarsoff]

Sadly there doesn't appear to be any way the District Club, in concert with the Leagues Club, could navigate their collective way back to controlling the footballing operation. The Leagues Club is looking at taking over premises at District Park, which has a poker machine licence, however that's only a small set-up.

Maybe that's where Geoff will re-enter the fray in years to come.

 

[Mark from Brisbane]

If the 60,000 Manly fans who attended the 2008 final joined and paid $25 a year for about 3 years , absolutely !!

 

[Loobs]

Are there any qualified accountants amongst us ? Is the MWDRLFC a non for profit organisation and if so...if a person made a donation ...what percentage of any donation would be tax deductable ?

Tooves is...

 

[WESTIE]

Is there an actual " pay out " figure , to get control back from the penns ?

 

[HappilyManly]

Is there an actual " pay out " figure , to get control back from the penns ?

No. Its a private Co so the valuation of the shares is subjective. The Franchise's only asset is the Preferance Share which is held by the Football Club as 12% Shareholders in the Franchise.

The more angst they get, the more the Council charges for Brookie, the more likely that they will consider selling. To quote them 'it's a performance based business'

 

[Shoe1]

....was a post in another thread before I deleted it and created a seperate thread.

I like it, adds gravity

 

[Chip and Chase]

From the Football Clubs own website

Football Club will continue to use surplus funds to acquire further equity in MWSE as required under the Football Club's Constitution, but "buying back" the Sea Eagles is not a realistic and active goal of the Football Club at this time.

 

[manlyfan76]

Someone needs to win 50 Mil on powerball and then donate the money to the F.C.