ManlyBacker
Winging it
Investors, roll up, roll up. Plunge your dollars next year in a get rich scheme with guaranteed profits. Super returns will be possible in 2014 or maybe a long time afterwards.
Fans to be offered a slice of Bears
ADRIAN PROSZENKO smh.com.au
YOU will soon get a chance to own the Central Coast Bears.
Bears officials have revealed they will give rugby league fans an opportunity to buy a piece of the club via an unlisted share offering.
NRL boss David Gallop knocked expansion plans on the head during the week after a meeting of club chief executives, who voted unanimously against adding teams to the competition in the foreseeable future.
However, the Bears are undeterred by the setback and are pressing on with plans to become the game's 17th franchise by 2013.
To that end, officials are confident they can raise between $6 million and $8 million from investors. The money will be held in trust until the league gives the Bears the nod to re-join the competition. Should the NRL - or the game's new independent commission - ultimately reject the Bears' bid, the money will be returned to investors.
''We want the community to be part of the structure and the ownership of the Central Coast Bears,'' Bears chief executive Greg Florimo told The Sun-Herald.
''It's been said that the independent commission will give the game back to the fans - this is going one step further by allowing the fans to own a piece of the Bears.
''What we're saying to the community is that they can be a part of our journey back into the NRL.
''As a shareholder, you'll have your say, you'll be entitled to vote and you'll own a piece of your club.
''We see this as a step towards the future in terms of what sporting bodies can look like in this country.''
The investor offer, which will be launched in March, is one of the first of its kind in professional Australian sport. Manly co-owner Max Delmege first floated the idea of listing the Sea Eagles on the sharemarket in August 2008 and still hopes to fulfil his dream of ''giving the club back to the people''.
Florimo said the Bears weren't looking to become listed at this stage but he wouldn't rule out the possibility in the future.
''It's something we've discussed,'' Florimo said. ''At this stage we'll go unlisted, but down the track there is the possibility of becoming a listed entity.''
Florimo stressed that the Bears had a business model in place, which meant they weren't relying on fans' funds to make the franchise financially viable. However, the initiative allows supporters a new way of connecting to their team over and above conventional membership packages.
''This will allow us to officially go back to the NRL with a mandate from the people that the Central Coast Bears should be given a licence,'' he said.
''It will be a matter of what day they award it - not if.''
Central Queensland and Papua New Guinea are also pushing for a place in an expanded competition. Recent statements from Gallop do not appear to have helped their cause. However, North Sydney legend Florimo won't give up the fight.
''To say that expansion isn't on the agenda when every other code is able to do it successfully is ridiculous,'' Florimo said.
''It's narrow-minded for the 16 CEOs to think they are the be-all and end-all for the future of the game.
''Our goal is to replicate the success of the Gold Coast Titans, be sustainable and deliver benefits to the community.
''Expansion should no longer be termed a negative by the leaders of rugby league.''
Fans to be offered a slice of Bears
ADRIAN PROSZENKO smh.com.au
YOU will soon get a chance to own the Central Coast Bears.
Bears officials have revealed they will give rugby league fans an opportunity to buy a piece of the club via an unlisted share offering.
NRL boss David Gallop knocked expansion plans on the head during the week after a meeting of club chief executives, who voted unanimously against adding teams to the competition in the foreseeable future.
However, the Bears are undeterred by the setback and are pressing on with plans to become the game's 17th franchise by 2013.
To that end, officials are confident they can raise between $6 million and $8 million from investors. The money will be held in trust until the league gives the Bears the nod to re-join the competition. Should the NRL - or the game's new independent commission - ultimately reject the Bears' bid, the money will be returned to investors.
''We want the community to be part of the structure and the ownership of the Central Coast Bears,'' Bears chief executive Greg Florimo told The Sun-Herald.
''It's been said that the independent commission will give the game back to the fans - this is going one step further by allowing the fans to own a piece of the Bears.
''What we're saying to the community is that they can be a part of our journey back into the NRL.
''As a shareholder, you'll have your say, you'll be entitled to vote and you'll own a piece of your club.
''We see this as a step towards the future in terms of what sporting bodies can look like in this country.''
The investor offer, which will be launched in March, is one of the first of its kind in professional Australian sport. Manly co-owner Max Delmege first floated the idea of listing the Sea Eagles on the sharemarket in August 2008 and still hopes to fulfil his dream of ''giving the club back to the people''.
Florimo said the Bears weren't looking to become listed at this stage but he wouldn't rule out the possibility in the future.
''It's something we've discussed,'' Florimo said. ''At this stage we'll go unlisted, but down the track there is the possibility of becoming a listed entity.''
Florimo stressed that the Bears had a business model in place, which meant they weren't relying on fans' funds to make the franchise financially viable. However, the initiative allows supporters a new way of connecting to their team over and above conventional membership packages.
''This will allow us to officially go back to the NRL with a mandate from the people that the Central Coast Bears should be given a licence,'' he said.
''It will be a matter of what day they award it - not if.''
Central Queensland and Papua New Guinea are also pushing for a place in an expanded competition. Recent statements from Gallop do not appear to have helped their cause. However, North Sydney legend Florimo won't give up the fight.
''To say that expansion isn't on the agenda when every other code is able to do it successfully is ridiculous,'' Florimo said.
''It's narrow-minded for the 16 CEOs to think they are the be-all and end-all for the future of the game.
''Our goal is to replicate the success of the Gold Coast Titans, be sustainable and deliver benefits to the community.
''Expansion should no longer be termed a negative by the leaders of rugby league.''
