Article re Penn saying we will be here in 2021

[Terry Zarsoff]

Dee Mountable.

Very popular young lady in her day.

 

[Terry Zarsoff]

Just needed to get out of the house after over a week inside so went for a walk around Lottoland. Oh for the better days a head View attachment 14062View attachment 14063View attachment 14064View attachment 14065View attachment 14062View attachment 14063

Ageing, but not a shambles. Last time I checked, there wasn’t a Hyperbole Stand at Brookvale.

 

[ellakasmar]

Penn was on Ch10 news last night apparently - anyone have a link to it?

 

[The Bagman]

A Great Historic Manly video for All Passionate Manly fans to see

Enjoy our Proud History
and be one of the Great ones that Create our Great Future
by contributing through club membership

Just what I needed this week! Thanks BOZO!

 

[BOZO]

Just what I needed this week! Thanks BOZO!

You are welcome feathered friend I am glad you enjoyed the blast from the past highlights .
The Real Bozo , the Incomparable Immortal and greatest ever player would have been at his peak in the 70s.

EACH ONE OF US MANLY FANS HAS A FAVOURITE PLAYER THAT OUR GREAT CLUB HAS PRODUCED

PASSIONATE FANS CAN HELP KEEP OUR GREAT MANLY SEA EAGLES PRODUCTION LINE GOING WITH OUR GREAT CONTRIBUTION THROUGH CLUB MEMBERSHIP

PASSION ALWAYS PREVAILS

 

[Technical Coach]

Don't listen to a word any idiot on TV or uneducated league commentators say about Manly being under threat.

It is all complete hysterical rubbish. Buzz tried to bring it up on 360 on Monday and Ikin shut him down immediately and said that in a private ownership model if Penn Health didn't want to continue to own manly due to incurring too many losses then there were many other consortiums that would buy in. We know URM would buy the club in a flash.

Even Greenberg said Manly and Gold Coast were safer options for survival at the moment due to their lean cost structures and private models.

The other consideration that Buzz and Kent don't understand is that the losses incurred each year by Manly are most probably a tax deduction for the whole Penn Group so as much as Penn talks about how he funds manly via his family - the reality is that it offsets tax against his other profitable businesses.

The Manly brand is also a marketing engine for Penn and his other businesses as well hence why he doesn't want to sell. Its an integral part of his whole of business strategy.

I love how people always reply with the "nah just right off all your losses as a tax deduction" like it cancels all the losses lol.

Manly could really be a good investment as we tend to get good results with less resources with a much tighter budget----if the whole cost base comes down Manly really are ahead of the curve in relation to tight budgets and cost cutting and might turn a profit much easier.

 

[manly al]

It will be interesting what the operational arrangements and cost structures of N R L clubs will consist of when some type of normality will return again . The previous 12 months or so was the first time for the increased 13 mil allocation to the clubs to cover basic salary cap requirements and some other club operational activities .and that is unlikely to be available at least in the short term . Also with the 20 mil or so figure that seemed to be the norm for an average and overall club 's yearly outlay . Salary cap reductions probably inevitable in the short term but not that much of a risk that some elite N R L players will be lured to other codes as there would be relative reduced income flows virtually universally . Might be a bit different with some wealthy and privately owned overseas based Rugby clubs but even they would be feeling the pinch . . A streamlined N R L will help matters , much will no doubt be determined with the next round of broadcast deals . Probably is going to require the same level of responsibility and cooperation from all of the stakeholders of the game including the more well off clubs and some semblance of a level playing field to ensure the survival of all of the present N R L clubs .

 

[Clint]

Manly could really be a good investment as we tend to get good results with less resources with a much tighter budget----if the whole cost base comes down Manly really are ahead of the curve in relation to tight budgets and cost cutting and might turn a profit much easier.

Was thinking about exactly this last night TC. I agree 100%.

 

[JenEagle]

I love how people always reply with the "nah just right off all your losses as a tax deduction" like it cancels all the losses lol.

Manly could really be a good investment as we tend to get good results with less resources with a much tighter budget----if the whole cost base comes down Manly really are ahead of the curve in relation to tight budgets and cost cutting and might turn a profit much easier.

I am not suggesting that making losses is a good outcome for any business unit. My point is that Rothfield and Kent's constant hysterical rants on TV and in their columns that Manly makes a small loss each year hence Scott Penn must be ready to pull out of the business shows that they have no understanding of the complete picture.

It's not unusual in corporate structures for some entities to make a loss and to be funded by other parts of the business and the tax effects of this are reflected in whole structures position.

 

[Technical Coach]

I am not suggesting that making losses is a good outcome for any business unit. My point is that Rothfield and Kent's constant hysterical rants on TV and in their columns that Manly makes a small loss each year hence Scott Penn must be ready to pull out of the business shows that they have no understanding of the complete picture.

It's not unusual in corporate structures for some entities to make a loss and to be funded by other parts of the business and the tax effects of this are reflected in whole structures position.

Yes that is the case but financially no matter how you view it, word it, or manipulate/massage figures for the best tax minimizing structure possible Penn would be far better off financially if he wasn't coughing up millions each year to the Manly cause.(at present)

 

[Peter C]

I am not suggesting that making losses is a good outcome for any business unit. My point is that Rothfield and Kent's constant hysterical rants on TV and in their columns that Manly makes a small loss each year hence Scott Penn must be ready to pull out of the business shows that they have no understanding of the complete picture.

It's not unusual in corporate structures for some entities to make a loss and to be funded by other parts of the business and the tax effects of this are reflected in whole structures position.

I hate it how Rothfield always brings up the topic that Cronulla own their ground, so farking what!, how is that going to save them if they go broke, they can't sell it, and they also run at a big loss in maintaining the ground as opposed to paying a weekly rent somewhere else.

 

[The Who]

I hate it how Rothfield always brings up the topic that Cronulla own their ground, so farking what!, how is that going to save them if they go broke, they can't sell it, and they also run at a big loss in maintaining the ground as opposed to paying a weekly rent somewhere else.

The land on which Endeavour Oval and the Leagues Club were built was gifted to the Cronulla RL by the local Council. If the Sharks go broke then I'd imagine the local resident-ratepayers would be entitled to demand that the facilities revert back to the Council.

 

[Peter C]

The land on which Endeavour Oval and the Leagues Club were built was gifted to the Cronulla RL by the local Council. If the Sharks go broke then I'd imagine the local resident-ratepayers would be entitled to demand that the facilities revert back to the Council.

Cronulla RLFC was gifted three parcels of land by Sutherland Council, on the proviso that they only be used as sporting fields, one for Shark Park, or whatever it was called then, and the other two for junior rugby league.
The council objected all the way with this current development, however they were overruled by the State Planning Commission.
I imagine all titles are now in Cronulla's name so unlikely they would revert to the council, and I doubt that they would be allowed to develop a third ground so close to the two other developments

 

[JenEagle]

Rothfield is a first class hack. Do not listen to a word of the garbage that spews from his mouth. Its all agenda driven reactionary headline grabbing rubbish.

 

[Mitch]

Reading an article on DCE’s key role in recent player negotiations, Daly was quoted as saying he had been in regular conversations with Scott Penn and Stephen Humphries about the clubs long term survival and mentioned that Penn’s heart lies with Manly and he won’t let us fall by the wayside.

 

[mickqld]

I believe if Penn's heart wasn't in Manly then they would've turned tail and run years back. I have no doubt we'll survive this and may even come out stronger. However other leagues club dependant clubs won't be so lucky.