Two businessmen buy 22 per cent stake in Sea Eagles worth $5m

[castle eagle]

it was a long time ago, but wasn't there a lot of complaining when the pepsi jersey was first unvieled?
after a while people came to like it, who knows maybe the same will happen here(might take a premiership though).

 

[Budgie]

This has always been my suspicion as to why such an urgent rebuild.

 

[Loobs]

I'll get some gear at the end of next season when the superstore is having it's clearance...

 

[Budgie]

How much would we all have to have Coco Hoy replace the sickly green?
Too much?
Thought so.

 

[brad]

Well this brings the goosebumps out . We are now very quickly turning into the power house everyone feared. Bring on 16.

 

[brad]

The jumper might not look to flash with the green but really I couldn't care less , I'm ordering mine I'm a manly supporter. I'll bet we all love the money coco is giving us to show its logo off.

 

[Mark from Brisbane]

After over a year of having to watch the Penn v whoever battles play out in this forum I've finally come to the conclusion that the Penn's were right. There has been a lot of inconsistancies but this is the final nail in the coffin for me. After hearing some pretty influential people around here constantly down playing our sponsorship deal (as if they have some kind of inside knowledge) it has now become pretty obvious that it's all just white anting bull****, coincidentally exactly what they we're blaming the opposite side for. This thread probably isn't the place to air these opinions but yeah, stoked on the massive sponsorship deals, etc and excited for 2016.

I don't know if I have been " downplaying" or " white anting" you may think so but from what I hear the lucrative sponsorship is a significant downgrade on the Kasperky dollars.

And other than the Penns selling 22% of Pennsport for $5 million I'm just not sure why everyone's doing cartwheels.

It's nice to see some fresh faces on the board but I doubt very much that they would be independent , the Penns fought for so long to dominate so I can't see them giving it away immediately.

As I said in a recent post the " charm offensive " seems to be working nicely.

 

[Loobs]

The jumper might not look to flash with the green but really I couldn't care less , I'm ordering mine I'm a manly supporter. I'll bet we all love the money coco is giving us to show its logo off.

The jersey doesn't look flash with the green but all those sponno dollars have made the club flush with green.

 

[Budgie]

The jumper might not look to flash with the green but really I couldn't care less , I'm ordering mine I'm a manly supporter. I'll bet we all love the money coco is giving us to show its logo off.

Brad, Brad, Brad. We all know style and money are two entirely different beasts.

 

[Lord Eagleton]

Lads, off topic, but i just bought the 'Sea Eagles 70' basketball singlet and i must say, it looks very very good. Gold trim outlining the letters and numbers (no sponsorship stuff on it either). But having it sent to London i got slugged with UK VAT, holy moly it costed a bomb. But so worth it, looks sick. Recommended

 

[Jerry1]

shame it wasn't a 51% stake....

 

[Terry Zarsoff]

Surprised that Andrew didn't bring in his brother George as well.

George has a new release on display at the DY surf club changing sheds.

 

[Chip and Chase]

Here's another report on the buy in from seaeaglesblog.com

http://seaeaglesblog.com/2015/12/29/meet-the-new-owners-of-the-sea-eagles/

Meet The New Owners Of The Manly Warringah Sea Eagles

POSTED BY: SEA EAGLES BLOG DECEMBER 29, 2015

The ownership structure of the Sea Eagles has undergone another change with two businessmen buying 25% of the Penn family stake in the franchise.

The reported $5m paid for the stake ensures the Penn family recoups the $3.9m they paid for Quantum’s 37% share at the end of 2014 while maintaining their majority in the Sea Eagles board room.

The new owners are businessmen Andrew Michael and Gary Wolman.

Andrew Michael is not a new name around Manly, he was the person picked to replace Peter Peters on the board in November as an appointee of the Penn family.

Michael has 30 years’ experience in the Australian fashion industry and is currently a director of Apparel Group which has brands such as JAG, Sportscraft, Saba and Willow under its umbrella. The group has been a minor sponsor of Manly for a number of years.

Wolman is the Managing Director of plastics company Cinqplast Plastop which deals in manufacturing plastic moulds and packaging. He will take the place of Heather Penn on the Sea Eagles board.

Wolman and Michael join other Penn appointees Scott Penn, Rick Penn and Kerry Chrysiliou alongside Manly Warringah Football Club directors Bob Stevenson and Julie Sibraa on the Sea Eagles board.

It’s important to recognise this new ownership structure does not greatly affect the running of the Sea Eagles.

The two new men on the board merely bought a 12.5% share each in the company set up by the Penn family (Penn Sport) to look after their share in Manly. In essence they’ve bought a room in the “House of Penn” rather than their own little piece of Manly.

What they will bring though is some dearly needed expertise and diversity to a board which only a few months ago included four members of the same family.

 

[wombatgc]

While I love the sponsorship dollar of our jerseys, it is going to be the first time EVER that I wont be buying a jersey, jacket, training shirt or tshirts. The green is just way TOO BIG!

The polo's ok!...it didn't get attacked by big blob (little blob on right side)and he was riding on the left tricep last year I think? Funny to see most of the crowd decked out in polo's instead of jerseys! Anyone who buys a jersey should get a casback coupon for $180.

 

[PONTIAN SEA EAGLE]

We're the Chelsea of the nrl now.

 

[manlywarringah]

The polo's ok!...it didn't get attacked by big blob (little blob on right side)and he was riding on the left tricep last year I think? Funny to see most of the crowd decked out in polo's instead of jerseys! Anyone who buys a jersey should get a casback coupon for $180.

I do like the training tee, the shaded maroon with the maroon on the shoulders. If that had the smaller logo in the corner, I could've lived with that. Not the dominant green logo though.

Oh well, save some money I suppose.

 

[bones]

go to best & less, they normally sell jerseys with no sponsors on them!

The Sharks outlet store normally sells jerseys with no sponsors on them too.

 

[castle eagle]

The Sharks outlet store normally sells jerseys with no sponsors on them too.

is that next to their trophy cabinet?

 

[Fluffy]

So what happens if the two new guys vote with the FC board?

Same as last time, the leaks mouthpiece will white ant away and the herds will follow

 

[Fluffy]

The Football Club should be jumping for joy at the news - a diversified ownership model has been part of their vision for the club- would be interested in @vidmar view on this? Maybe a statement is in the wind?

As has already been stated the ownership model has not changed.

The Penns sports group still owns exactly the same amount as before.

The change is in the ownership of the Penn sports group, they have sold 25% of it.