A Good News story from our Board

[lismore_fan]

Finally, A good news story in a relatively unbiased news rag, regarding our 'dysfunctional' Board.

http://www.smh.com.au/rugby-league/manly-sea-eagles/talk-of-manly-boardroom-war-merely-the-stuff-of-envy-says-feisty-sidney-20131216-2zh8y.html

It is really good that we can hear a story 'straight from the horse's mouth'.

 

[lovefooty]

Finally, A good news story in a relatively unbiased news rag, regarding our 'dysfunctional' Board.

http://www.smh.com.au/rugby-league/manly-sea-eagles/talk-of-manly-boardroom-war-merely-the-stuff-of-envy-says-feisty-sidney-20131216-2zh8y.html

It is really good that we can hear a story 'straight from the horse's mouth'.

Other clubs would love to have our results. This is what I have been saying for ages.
All boards have disagreements on issues butt the big one has been Perry. One group doesn't want him.
The others think he has the right stuff to run the club. The results now back that up.

Well done the truth is out there .

 

[HappilyManly]

'..'We are one of the only clubs that don't get any special benefit from the NRL or a leagues club, yet we have managed to turn a profit this year. I believe that's the first time that's happened in 35 years and we're budgeting for a profit again next year.

''I fail to see how this board hasn't operated really well with the assistance of the district football club and its team. In fact, the district club has taken a lead in projects such as securing grants to help secure the future of Brookvale Oval....''

---

Its like in politics - without a strong opposition there is no accountability by the ruling party

I still don't understand why the NRL are continuing to grant the Scum $5m a year - they are also a privately owned Franchise

Opened my email today to a note from Igor , keeping it along with the one from Cliffy
Hoping that Mal Cochrane emails me too, to get the trifecta of all time favourite Players of mine :idea:

Life is good in Manly Land

I will be interested to read how the DT covers the Eels, Dogs and Tigers AGMs - word count on dysfunctional maybe low in these articles though :dodgy:

---

http://www.dailytelegraph.com.au/sport/nrl/prime-minister-tony-abbott-manly-sea-eagles-likely-number-one-ticket-holder/story-fni3fbgz-1226784401358

Prime Minister Tony Abbott Manly Sea Eagles likely number one ticket holder
JOSH MASSOUD THE DAILY TELEGRAPH DECEMBER 16, 2013 10:00PM

MANLY is no stranger to politics, but even the club's warring boardroom could learn a thing or two from their likely new No. 1 season ticket holder.

The Daily Telegraph can reveal Prime Minister Tony Abbott is set to accept the honour of becoming Manly's most feted fan in 2014, after club officials approached his office six weeks ago.

Fittingly, the development comes amid a fierce election campaign for control of the Manly football club, the result of which will determine which faction holds the balance of power over the NRL business.

The Abbott approach is a feel-good reprieve from intense sniping in the lead-up to Thursday night's poll, which has obscured one of the club's proud off-field feats - the first operating profit in 35 years.

It also gives Sea Eagles fans renewed hope that a $15 million funding shortfall for a new 5000 seat grandstand at Brookvale Oval can be erased.

The outdated venue sits in the heart of Abbott's Warringah electorate, and, thanks to a pre-election pledge from the previous Labor Government, the Prime Minister is committed to stumping-up $10 million.

Sea Eagles CEO David Perry revealed that he made contact with Abbott's office last month.

"We've been talking to the Prime Minister's office about Tony Abbott becoming our No. 1 season ticket holder for 2014 - he's a loyal Manly fan and has been supportive of our cause for many years," Perry said.

"The indications are promising that he will accept the invitation early next year."

Perry believes $30 million is required to bring Brookvale up to scratch, but the present combination of Federal and State Government funding is barely half that figure.

Despite the fact their home ground boasts the worst corporate facilities in the NRL, Manly has just posted its first profit since 1978 after recording a $1 million balance sheet turn-around from 2012.

Manly's 2011 grand final win translated to a $1.5 million loss, thanks largely to the fact the club didn't have a major sponsor for most of that season.

They were almost $1 million in the red last year, and, despite being on the wrong end of this season's decider, have recorded a $37,000 surplus for 2013.

The positive result makes Manly one of the few Sydney-based club to record an operating profit in recent years.

Perry is already forecasting a $200,000 profit for next season, pointing to the fact that membership takings are $200,000 ahead on last Christmas for his optimism.

The Sea Eagles also made a conscious decision to spread their wings beyond the Northern Beaches, hosting business forum in the CBD and Liverpool this year to attract more diverse investment.

But the biggest venture could be sealed this week, with Perry expecting an answer as soon as tomorrow on investment options for a trailblazing game against Canberra in the Chinese city of Shenzen in late April.

"The NRL has set us a target of 14,000 members by 2017, and we're already looking at 12,000," Perry said.

"If we can get the improvements for Brookvale Oval, I believe we can get to 18,000."

 

[MissKate]

it was nice that these articles were 'matter of fact' style statements, as opposed to the bitch-fest we have been enduring in the media of late

 

[Mybludog]

No mention of this years famous No1

Guess he's just been wiped like a dirty arse..............lol

 

[SeaEagleRock8]

Relax, you're still the spiritual No 1, courting whatshisname is merely political expediency. It's a dirty game Russ

 

[marga]

No mention of this years famous No1

Guess he's just been wiped like a dirty arse..............lol

You'll always be famous. Love ya.

 

[globaleagle]

No mention of this years famous No1

Guess he's just been wiped like a dirty arse..............lol

Put it this way....the #1 ticket holder has never had a bigger drop in value from last year to the next!

Thanks for stumping up the $$$$ to hold the coveted spot for a year.

Methinks there's a better chance of you having fulfilled your financial commitment than the proposed next #1 ticket holder.

 

[Ryan]

I've gotta get off my lazy ass and renew my membership. Just so tired these days - get home, play with kids, eat dinner, sleep.....rinse / repeat.

 

[Eagles Nest 08]

This probably summarises well …
__________________
Quantum poised if Penn quits Manly

AFR: PUBLISHED: 16 Dec 2013 04:54:29 | UPDATED: 16 Dec 2013
John Stensholt

NRL club Manly’s board structure and private ownership model could be set for change depending on the results of director elections for the Manly District Rugby League Football Club.

The district club contributes two board directors to the NRL club, Bob Reilly and Darrell Williams, who have often voted with directors representing the owners of Australian Stock Exchange-listed hot water system company Quantum Energy, Phil Sidney and John Walstab.
Those votes have often been against the Penn family, led by entrepreneur Scott Penn, despite the Penns being majority owners of the NRL club.

The family owns close to 50 per cent of Manly, with the remainder held by the Manly District Football Club (about 13 per cent) and Quantum Energy.

If a group led by Mr Reilly and Mr Williams are successful in again winning board roles at the district club and then stay on the Manly NRL club board, a change of ownership could be triggered should the Penn family then sell their stake.

Such a move then could see Quantum, which has market capitalisation of about $10 million, emerge as majority owner of the NRL club, which has won two premierships in the past six years.
Another group, which could be more sympathetic to the Penn camp, is standing against Reilly and Williams’ group for board roles at the district club. The challengers include former Manly players Ray Brown and Max Krilich.

 

[Mark from Brisbane]

Yep could come down to this, you'd have to say it could be a " last roll of the dice" for the Penns

 

[jbb/james]

This probably summarises well …
__________________
Quantum poised if Penn quits Manly

AFR: PUBLISHED: 16 Dec 2013 04:54:29 | UPDATED: 16 Dec 2013
John Stensholt

NRL club Manly’s board structure and private ownership model could be set for change depending on the results of director elections for the Manly District Rugby League Football Club.

The district club contributes two board directors to the NRL club, Bob Reilly and Darrell Williams, who have often voted with directors representing the owners of Australian Stock Exchange-listed hot water system company Quantum Energy, Phil Sidney and John Walstab.
Those votes have often been against the Penn family, led by entrepreneur Scott Penn, despite the Penns being majority owners of the NRL club.

The family owns close to 50 per cent of Manly, with the remainder held by the Manly District Football Club (about 13 per cent) and Quantum Energy.

If a group led by Mr Reilly and Mr Williams are successful in again winning board roles at the district club and then stay on the Manly NRL club board, a change of ownership could be triggered should the Penn family then sell their stake.

Such a move then could see Quantum, which has market capitalisation of about $10 million, emerge as majority owner of the NRL club, which has won two premierships in the past six years.
Another group, which could be more sympathetic to the Penn camp, is standing against Reilly and Williams’ group for board roles at the district club. The challengers include former Manly players Ray Brown and Max Krilich.

If this article has any truth to it, it muddies the water even more. If the ownership is at stake, and if another shareholder is looking to buy the other out, its fair to say that both camps have agendas other than the day to day running of the footy club.

It may be a tactic, it sure makes you think about what and why thinks have happened.

This is a real concern if true. Its easy to believe the penns/zorba have been villans through all of this but , its also easy to see how a plan like this could have been hatched to take control of the club

Its been reported that qantum and others have wanted to obtain the penns shares , but couldnt agree on price. If the penns believe they are on a hiding, it would probably affect the price. Everyone gets to a point when it just isnt worth the hassle

Just my thoughts

Is it possible we have all been hoodwinked

 

[HappilyManly]

Come to the meeting and you can pose your questions in person.:idea:

My viewpoint is simply that the Leagues Club has no assets of their own left and no desired venue to raise required revenue to enable the Club to operate the pokies.

So they are staging a takeover of the Football Club Board to force the sale of its shares and gift the proceeds to the insolvent LC. :dodgy:

This would enable the LC to continue to pay unsustainable rent to a part Owner of the Franchise, whilst enabling the 4 people, on the Your Club Ticket of 6, to remain in their Aristocrat Leisure jobs :s

So there will be the two entities with zero assets, and no representation on the Franchise Board

 

[MissKate]

I thought there were talks a while ago that URM wanted to buy into the club rather than just sponsoring us.

I think tonight's result will just be the start of a few changes around the place

 

[lsz]

So if the Penns are bought out by Quantum then we have one owner is this not the same doom and gloom scenario that some of the fear mongers like to pedal now?

You know one owner could move the club etc?

 

[HappilyManly]

So if the Penns are bought out by Quantum then we have one owner is this not the same doom and gloom scenario that some of the fear mongers like to pedal now?

You know one owner could move the club etc?

There are 3 Owners now - not 2. More importantly, as an FC Club Member, we are part owners - the best $25 you can spend :idea:.

Manly-Warringah Rugby League Football Club Limited - "FOOTBALL CLUB"

Public Company Limited by Guarantee (ie no shareholders).

Membership based company to which the Life Members and Members belong.

Owns 13.247% of the ordinary shares in the Manly-Warringah Sea Eagles Limited.

Holds one Preference Share in the Manly-Warringah Sea Eagles Limited giving the members of the Football Club ownership of the Name and Colours and the right to appoint 2 Directors to the Board of the Sea Eagles. The preference share also guarantees no less than 10 home games at Brookvale Oval.

This will clarify the structure:
http://manlyfootballclub.com.au/index.php/mwse-family

Controlling the FC is the name of the game tonight - then it is all out of the FC Members hands and straight into the Franchise Shareholder hands - whoever they are in the future

 

[Jethro]

So if the Penns are bought out by Quantum then we have one owner is this not the same doom and gloom scenario that some of the fear mongers like to pedal now?

You know one owner could move the club etc?

I was thinking the same thing yesterday when I read the "Quantum poised if Penn quits Manly" article that Eagles Nest 08 posted earlier in this thread too.

@HappilyManly

I'm pretty sure that lsz was thinking like me in that when he said "one owner" he meant one private owner other than the football club.

 

[HappilyManly]

The preference share is owned by we Members, as you can see it covers what we call Manly - logo, colours and Brookie.

So having one or many co-owners is irrelevant so long as the FC Board votes independently and in the best interest of its Members , and not in the interest of the Leagues Club Members.

The Your Club Ticket is majority Leagues Club people.
Having them also serve Football Club interest is a conflict of interest, therefore no longer independent.
They are desperate for funds to pay out the ever growing LC debt.

I would rather have a Team, than a Clubhouse

Others would rather keep the LC doors open.
Its a hort term solution as the LC will continue to run at a loss due to the changed demographics here.
In 6 years, at most, the funds realised by getting the proceeds from the 13% equity held by the FC will be spent and LC will close anyway

But 600 of us all have one vote and I have no idea what will unfold tonight.

May the result favour our magnificent Team for many more decades

 

[vidmar]

The publicly stated and supported goals of the Football Club should help clear up any confusion regarding our position regarding private ownership - and to be clear this was decided upon by the members - not the board.

http://www.manlyfootballclub.com.au/index.php/goals

"Football Club supports the MWSE always having at least two (2), but preferably three (3) or more, Private Shareholders."

 

[Mybludog]

No mention of this years famous No1

Guess he's just been wiped like a dirty arse..............lol

Put it this way....the #1 ticket holder has never had a bigger drop in value from last year to the next!

Thanks for stumping up the $$$$ to hold the coveted spot for a year.

Methinks there's a better chance of you having fulfilled your financial commitment than the proposed next #1 ticket holder.

Haha. Hopefully we get 10+ mill from the new bloke