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Balmain facing extinction

Discussion in 'Rugby League Forum' started by HappilyManly, Mar 16, 2016.

By HappilyManly on Mar 16, 2016 at 7:04 AM
  1. HappilyManly

    HappilyManly MWTS Premium Member 2017 Tipping Competitor

    +19,030 /367

    Balmain Tigers in emergency talks with NRL to save their share of the Wests Tigers joint venture
    March 15, 2016 5:44pm
    PHIL ROTHFIELDThe Daily Telegraph
    BALMAIN are in emergency talks with the NRL to save their share of the Wests Tigers joint venture and 108 years of proud rugby league history.

    The foundation club has just two weeks to find the $5.4 million they borrowed from the NRL in 2014 or risk handing over the full NRL license to Western Suburbs.

    In a last ditch bid to save their logo and identity, the Tigers have called in local legend and former Olympic champion Dawn Fraser to try to persuade billionaire developer Harry Triguboff to buy their half-share in the Wests Tigers and pay the money back to the NRL.

    The Western Suburbs side of the merger was the de facto guarantor when Balmain borrowed the money from the NRL two years ago.

    Under the lending agreement, the thriving Wests Ashfield club would take full control of the joint venture if the Tigers can’t raise the money by March 31 or sell their share within six months.

    “We’re very understanding and sympathetic to their problems,” said Wests Ashfield CEO Simon Cook, “We were once kicked out of the competition ourselves so we know what it’s like.

    “Whatever happens, the Wests Tigers brand won’t change. We’re having constructive conversations with Balmain and the NRL right now to try to find a solution.”

    There is one suggestion from the talks that Balmain will repay a small part of the loan to the NRL to maintain a minority share of the NRL club.

    Under this arrangement the three independent directors, including chairperson Marino Go, would be replaced by Western Suburbs board members.

    Other options are:

    # Balmain come up with the money (highly unlikely) and get their own directors back on the joint venture board.

    # A new shareholder (possibly Triguboff) comes in and will decide with Wests on the new board.

    # Wests take control of the joint venture and determine the composition of the board.

    Whatever happens, the days appear numbered for Go and all three independent directors who were appointed as part of former NRL CEO Dave Smith’s rescue plan.

    Both Balmain and Wests are determined solve the problems peacefully to ensure the players are not affected after kicking off the season so positively with two outstanding victories over the Warriors and Sea Eagles.

    Unless Triguboff steps in, there is little or no hope of Balmain coming up with the money. The club is already in $11 million debt from their closed Leagues Club on Victoria Road at Rozelle.

    Sounds like the death of the NS Bears
    • Informative Informative x 1


    Discussion in 'Rugby League Forum' started by HappilyManly, Mar 16, 2016.

      1. Moondog

        Moondog What's up Darth? Premium Member 2017 Tipping Competitor

        +5,280 /51
        He made the offer to buy the club last year but he wants full control...
        "Triguboff has a strong connection to Balmain but has made it clear he will only buy in if he is capable of owning the entire NRL franchise.
        I've never been a partner with anyone and I won't be a partner with this. This I guarantee you," Triguboff said."
        • Funny Funny x 1
        • Informative Informative x 1
        • Eagles2nv

          Eagles2nv Sea you in the finals 2017 Tipping Competitor

          +2,103 /49
          Looks like the West Magpies are set to make a 2017 return ;)
        • Shoe1

          Shoe1 Well-Known Member

          +7,210 /106
          He sounds like he has the perfect personality to own an nrl club.
          • Agree Agree x 1
          • BOZO

            BOZO Well-Known Member 2017 Tipping Competitor

            +7,389 /390
            Good riddance :)
            • Agree Agree x 1
            • manlyfan76

              manlyfan76 Parra Trolls are the best. Premium Member 2017 Tipping Competitor

              +8,057 /174
              West Australian magpies sound ok
              Or West Brisbane magpies.
            • Chip and Chase

              Chip and Chase True Supporter Staff Member Administrator Premium Member 2017 Tipping Competitor

              +8,605 /80
              Fibros v Silvertails might be back on.
              • Like Like x 1
              • jbb/james

                jbb/james Well-Known Member Premium Member

                +1,493 /35
                Internally they have lost the fight. I live in leichhardt and am yet to meet a tigers fan here. My son is in year 6 on norton st and none of his friends play league. None. The school doesnt offer it as a sport. Its dead.

                I only tend to see manly fans and souffs fans walking the streets

                I love the history of the club, they were my grand fathers team. I have a soft spot for them but there is no future for league here
                • Agree Agree x 2
                • Mals

                  Mals Well-Known Member Premium Member 2017 Tipping Competitor

                  +1,652 /39
                  Goodbye pussy cats, the magpies are back, dump Taylor & appoint Masters or Tommy as coach @:D The only downside is that Parra would no longer be the club in the NRL with the most wooden spoons.
                • Baz

                  Baz Beaver's Headgear

                  +274 /2
                  I hope they can work this out - I've always loved the history of the game and keeping the foundation clubs in the game is important. I'm also going to put my neck out and say I'd like to see the Bears return on the GC so I can walk over to North Sydney Oval and watch Manly smash them every year!
                • Moondog

                  Moondog What's up Darth? Premium Member 2017 Tipping Competitor

                  +5,280 /51
                  In the meantime here's John West fighting a bear....

                  ....Oh look, an Eagle
                • PONTIAN SEA EAGLE

                  PONTIAN SEA EAGLE Well-Known Member

                  +1,521 /114
                  Yeah go & take that leichhardt oval with you.We just cannot win there.
                • HoldenV8

                  HoldenV8 Well-Known Member

                  +10,530 /173
                  I have to admit that in a way this saddens me. Balmain were my dad's team.
                • The Who

                  The Who Well-Known Member Premium Member

                  +7,252 /173
                  Well, they still continue to produce good players, and Balmain Juniors and Balmain Wanderers usually have strong teams . . . much stronger than those that play in the Manly Warringah comp.
                  • Informative Informative x 1
                  • Disco

                    Disco Well-Known Member

                    +1,778 /48
                    I live in Balmain and the vast majority of locals I know are Tigers fans

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