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The new Firepower

Discussion in 'Rugby League Forum' started by ManlyBacker, Dec 6, 2009.

  1. ManlyBacker

    ManlyBacker Winging it Staff Member

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    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.''
     
  2. Guest

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    I will be lining up at the bank tomorrow to take out a loan to invest in the bears as it should be a great investment.
     
  3. Berkeley_Eagle

    Berkeley_Eagle Current Status: 24/7 Manly Fan 2016 Tipping Competitor

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  4. Canteen Worker

    Canteen Worker Well-Known Member 2016 Tipping Competitor

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    Not sure that I would buy shares in a product that didn't exist!!!
     
  5. ManlyBacker

    ManlyBacker Winging it Staff Member

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    And the News not yet in:
     
  6. Matabele

    Matabele Well-Known Member

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    Is a fellow called Rorque Poisson their CEO by any chance?
     
  7. The Wheel

    The Wheel Well-Known Member

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    I assume if they dont get a start in an expanded NRL you will be able to get your cash back (plus interest)?
     
  8. SeaEagleRock8

    SeaEagleRock8 Sea Eagle Lach Staff Member Premium Member 2016 Tipping Competitor

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    Could it be better to own a share of nothing than to have what we have, that is the ability to be a 'member' who is really just a customer of a club which is really not a club but a private business...!?!?
     
  9. Guest

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    Could it be better to own a share of nothing than to have what we have, that is the ability to be a 'member' who is really just a customer of a club which is really not a club but a private business...!?!?
    [/quote]

    The problem with being a shareholder in a football club is who would want to own shares and be asked to buy more every year to prop up yearly losses.

    They might be better turning the football club into a charity and then we can make tax deductable donations to it.  We could be the football arm of the church of scientology.  

    Sea Eagle scientologists?
     
  10. Matabele

    Matabele Well-Known Member

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    We've all seen how the club membership of the Sea Eagles FC has lead to the club just rolling in cash.
     
  11. The Wheel

    The Wheel Well-Known Member

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    Awaiting retort from Vidmar
     
  12. Matabele

    Matabele Well-Known Member

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    Insert "lengthy"
     
  13. ManlyBacker

    ManlyBacker Winging it Staff Member

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    Dream on Wheel. The pot will be depleted by "expenses" for the bid and salaries. They will hit investors for further funds to keep the bid alive. Even if they get the franchise a break-even position or dividends would be at least a decade away. It is a shame they don't do share certificates any more because that hanging in the pool room is about the only thing that might have had some form of dubious value to those donating to this cause.
     
  14. Jatz Crackers

    Jatz Crackers Moderator Staff Member

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  15. Jatz Crackers

    Jatz Crackers Moderator Staff Member

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    Give them a period of time for promotion & then it would be interesting to hear how many of these private investors have come on board.

    Would be a sad look of course if in say 12 months they have just a small handful. All with the last name Florimo, Farliegh or Singo of course  8)
     
  16. Matabele

    Matabele Well-Known Member

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    Ryan and Tookey will probably make donations.
     
  17. vidmar

    vidmar Well-Known Member

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    "Lengthy Vidmar"
    Hmmm...Who have you been talking to?
     
  18. Matabele

    Matabele Well-Known Member

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    "Lengthy Vidmar"
    Hmmm...Who have you been talking to?
    [/quote]  Tiger Woods
     
  19. Canteen Worker

    Canteen Worker Well-Known Member 2016 Tipping Competitor

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    Is a football club as long as a golf club????
     

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