Sponsors band together in Manly bid

[Brissie Kid]

Sponsors band together in Manly bid
Date
August 13, 2013


The bitter battle for control of Manly could finally be over after a consortium of sponsors banded together to buy out the Penn faction.

The Penn family flagged their intention to sell their share of the club, which currently stands at 49.5 per cent, at a recent board meeting. The transfer could happen by the end of the season should a reasonable offer be tabled.

A consortium of current and potential sponsors, including United Resource Management (URM), Hall Chadwick and Mentor1 Financial, are in discussions about putting together an offer to buy out the Penns.

Major sponsor Kaspersky Lab is across the negotiations. It is understood the Penns want about $5 million, while the initial offer is likely to be closer to $4 million. It is hoped that the parties, at loggerheads on just about every issue, will come to terms in coming months.

The balance of power currently resides in the alliance between the other stakeholders, Quantum Energy (37.5 per cent) and the Manly District Football Club (13 per cent).

The Penn-aligned faction of directors - which comprises chairman Scott Penn, his father Rick and former media manager Peter Peters - is currently outvoted 4-3 in the boardroom.

The factions have been at loggerheads for years and their dispute reached a new low when director Darrell Williams, a former Kiwi international, claimed he was racially abused by Rick Penn at a board meeting on April 4. Penn denies any offence was intended to Williams.

The matter is still to be resolved. A subsequent board meeting was abandoned due to the fallout from the incident.

The potential new investors believe the Sea Eagles could be a sound investment. While almost all NRL clubs operate at a loss, the 2011 premiers are projecting they soon will be in the black. The club posted a loss of about $970,000 in its last financial report but officials are confident they can break even this year or perhaps even turn a small profit if they win another premiership. Should there be an ownership transfer, it is likely there will be an expanded board to give each stakeholder their say.

Former co-owner Max Delmege, who tipped in more than $10 million to save the club from financial ruin, said the fans' interests had to be taken into account.

''Obviously, you need business nous when you come into something like this but it's more than just a business, and you need to think of the hundreds and thousands of supporters who follow it,'' he said. ''From day dot, I've always put the players and supporters first.''

URM managing director Anthony Johnston first flagged his interest in becoming a part-owner in an interview with Fairfax Media in October 2011. ''As a supporter and sponsor, we are disappointed that self-interest and agendas have taken focus away from the fantastic efforts of the men in our team that delivered the club another premiership,'' he said at the time.

http://www.canberratimes.com.au/rugby-league/league-news/sponsors-band-together-in-manly-bid-20130812-2rshs.html

 

[globaleagle]

Interesting......

Not the article, just that someone from Brisbane can read!


Ah lolololol. I'm just kidding.

I don't know all the different political threads but it sounds like this could be a good move? No guarantees a new ownership structure would work better than the current one.....but couldn't be much worse surely?

 

[HappilyManly]

Hopefully AAA Shuttles will come up with the last million to buy out the Penns, Vidmar :idea:

 

[lismore_fan]

There goes the mysterious press from 'who gave him the info?'

With no Penns, there goes Zorba.

 

[lsz]

Board trouble...smells like another premiership to me

 

[Oneyeagle]

I never had an issue with the Penn's but if there is a queue of investors willing to throw money into the club to secure it's survival then we are in a good space regarding the future of the club.

To break even though the Eagles would have to win a Grand final. Private Enterprise demands results and a return on investment. Not a bad philosophy if we remain successful and keep winning GF's. If that's the case you won't hear me complaining.

 

[vidmar]

Hopefully AAA Shuttles will come up with the last million to buy out the Penns, Vidmar :idea:

Hmmmm.....Great idea - but now that Silvertails get a commission for every booking that may be the go?

All we need now is for anyone who is travelling in the next 3 - 6 months to book at www.aaashuttles.com.au to help raise a $ Mil for this site and away we go!

Plus, as the shuttles are cheaper than taxis and more convenient than public transport if everyone could refer friends, family and work mates (especially if you work in a company on the beaches that has people who travel to the airport on a regular basis) and get them to select the Silvertails site from the drop down menu after they have booked and paid then we'll be able to do it so much sooner - Wouldn't that be something lol !!!!

 

[Brissie Kid]

To break even though the Eagles would have to win a Grand final.*

* Note: Subject to the Bulldogs club whiteanting the grand final winning club's October celebrations and opportunity to maximise income, sponsors and membership.

 

[The Who]

This sounds positive. I am surprised at how little ownership of the club is valued at -$4m or $5m for 50%. This really is small change for such a marquee club.

 

[Frank]

News like this always makes me nervous.

If our board ever becomes harmonious then I fear for our ability to compete on the field.

 

[mickqld]

To break even though the Eagles would have to win a Grand final.*

* Note: Subject to the Bulldogs club whiteanting the grand final winning club's October celebrations and opportunity to maximise income, sponsors and membership.

You know when you sit back and think about it for a minute you realise what a despicable low act it is for another club in a competition to come in the day after a team wins the premiership and try to destabilse, spoil and dismantle a premiership win and the players,sponsors and fans celebrations after a year of hard work and sacrifice. It makes me sick everytime I think of what that filthy scummy club did to us and it makes me smile extremely happy when I see things like last nights game happen to them. They are the epitome of filth in every sense of the word. They are the scum that lies at the bottom of a cesspoole of sewerage.

 

[Peter C]

Owning a football club is like owning a racehorse or a yacht, you don't get into it to make money, it's exactly the opposite, they all burn money, you do it for the pleasure, it's just that you have to minimize your losses.
The only clubs that could possibly make a profit, are Brisbane, and Souths at the moment, as they are having a golden run and membership has gone through the roof, but give them time, this resurgence in support will diminish with poor results.

 

[globaleagle]

Hopefully AAA Shuttles will come up with the last million to buy out the Penns, Vidmar :idea:

Hmmmm.....Great idea - but now that Silvertails get a commission for every booking that may be the go?

Rule #1 on the internet: don't use white text with a black background.


Ah but what do I know? Nothing! *shultz style

Hope business is going great for you! Nice to have my travel sorted when I visit Sydney

There's some space under the AAA radiator sponsors for you guys!!

 

[Brissie Kid]

To break even though the Eagles would have to win a Grand final.*

* Note: Subject to the Bulldogs club whiteanting the grand final winning club's October celebrations and opportunity to maximise income, sponsors and membership.

You know when you sit back and think about it for a minute you realise what a despicable low act it is for another club in a competition to come in the day after a team wins the premiership and try to destabilse, spoil and dismantle a premiership win and the players,sponsors and fans celebrations after a year of hard work and sacrifice. It makes me sick everytime I think of what that filthy scummy club did to us and it makes me smile extremely happy when I see things like last nights game happen to them. They are the epitome of filth in every sense of the word. They are the scum that lies at the bottom of a cesspoole of sewerage.

Sadly mate not too many have picked up on that. The Manly club has bitten its tongue over this asepct of it, plus the media weren't interested.

The Dogs official who orchestrated the attack on Manly openly said he did what he had to do for the benefit of his own club. Nothing else concerned them. That is fair enough, but there is also the issue of timing & respect for how you would have others treat you.

Yet that same club formed a group with other southern Sydney NRL clubs to collectively work together to grow their opportunities and income.

Look the fact is every NRL club knows you're almost certain to lose money every year & when you finally win one, it pays for the others & if you're lucky it leaves you a bit more $ on top. You have to cash in big on a grand final win. Every NRL club knows that.

Knowing all of that, for one NRL club to then be so selfish it is disgraceful.

Even if they had waited until early 2012 before doing it that would have been something.

Manly lost out on post grand final merchandise sales, new sponsors & increased members numbers when all the air was sucked out of the party balloon by the Dogs in Oct Nov 2011.

Never forgive them or forget.

 

[Frank]

Owning a football club is like owning a racehorse or a yacht, you don't get into it to make money, it's exactly the opposite, they all burn money, you do it for the pleasure, it's just that you have to minimize your losses.
The only clubs that could possibly make a profit, are Brisbane, and Souths at the moment, as they are having a golden run and membership has gone through the roof, but give them time, this resurgence in support will diminish with poor results.

Being at the whim of someone else's pleasure is what makes me nervous whenever these discussions come up.

 

[HappilyManly]

There is a shortage of venues on the Northern Beaches for the young - Manly Leagues Club has been decimated and looks and feels like a mausoleum.

Instead of the new Venture paying 600k pa for a cement container - no windows FFS, they need to actively source another venue to bring in some non-football related monies.:idea:

DY Hotel, DY RSL and Newport Arms will be even more strained with Customers as the Harbord Diggers start their much vaunted rebuild.

 

[Daddycool08]

To break even though the Eagles would have to win a Grand final.*

* Note: Subject to the Bulldogs club whiteanting the grand final winning club's October celebrations and opportunity to maximise income, sponsors and membership.

You know when you sit back and think about it for a minute you realise what a despicable low act it is for another club in a competition to come in the day after a team wins the premiership and try to destabilse, spoil and dismantle a premiership win and the players,sponsors and fans celebrations after a year of hard work and sacrifice. It makes me sick everytime I think of what that filthy scummy club did to us and it makes me smile extremely happy when I see things like last nights game happen to them. They are the epitome of filth in every sense of the word. They are the scum that lies at the bottom of a cesspoole of sewerage.

Gee mate you are really being derogatory to "filth," "scum" and "the bottom of cesspools" if you compare the dogs to such things.

In my humble opinion they are even lower than these things but Todd is now the CEO of the NRL in waiting so watch everything go the dog's way.

 

[The Who]

Owning a football club is like owning a racehorse or a yacht, you don't get into it to make money, it's exactly the opposite, they all burn money, you do it for the pleasure, it's just that you have to minimize your losses.

What about Manchester United, Liverpool, Real Madrid, the New York Yankees . . .

 

[SeaEagle21]

Owning a football club is like owning a racehorse or a yacht, you don't get into it to make money, it's exactly the opposite, they all burn money, you do it for the pleasure, it's just that you have to minimize your losses.

What about Manchester United, Liverpool, Real Madrid, the New York Yankees . . .

These Clubs don't make a profit and if they do it all goes to pay off their wealthy owners debts down to buy the club (or controlling stakes) in the first place. For Real Madrid (owned by shareholders) it's all about the unchallenged & unfair system by which the clubs can negotiate their own tv deals...Which means Barca and Real Madrid have their pick of multi(hundred)million TV deals etc whilst the lower teams fight for the scraps left over. Go down to clubs at a lower level than these marketing machines and see how much profit they turn over...very big 000's at the end with a big fat '-' at the front.

To add to this comparing Rugby league to these sorts of High end sports clubs around the world isn't being realistic in the first place because of the tiny sports market Rugby League has... Not to mention the saturated Sydney region for Rugby League investors.

 

[Moops]

Owning a football club is like owning a racehorse or a yacht, you don't get into it to make money, it's exactly the opposite, they all burn money, you do it for the pleasure, it's just that you have to minimize your losses.

What about Manchester United, Liverpool, Real Madrid, the New York Yankees . . .

I read an article a few years ago that Manchester United, Real Madrid and Liverpool all have massive debt. They just have owners that can afford to keep piling up the debt. It can't last forever...