Bunnies' year gets better and better

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Chip and Chase

True Supporter
Staff member
Administrator
Premium Member
Tipping Member
Bunnies' year gets better and better

I know that they are privately owned now and it won't affect the direct financial situation of the football club. But this sort of thing has to have an effect on the fans.

Administrators called to Souths
June 30, 2006

SOUTH Sydney Leagues Club has gone into voluntary administration.

The leagues club has suffered a massive drop in trade since South Sydney Football Club left Redfern Oval as its home ground and is struggling to pay its debts.

The club's acting chairman Bernie O'Neill said the football club's move this year to Telstra Stadium at Homebush, 15km from the club's heartland in Redfern, has cost the leagues club $250,000 in trade.

"The board of South Sydney Leagues Club have taken this action as a direct result of plummeting trade caused by the Football Club's decision not to hold any after match or official functions at the Leagues Club," O'Neill said.

"This deliberate denial of our traditional source of income is killing the club.

"All the money that has been spent on functions at Telstra Stadium, fashionable pubs and restaurants could have been spent at the Redfern leagues club as it always has in the past.

"Additionally, fans don't want to make the trek from Homebush to Redfern after the game and the result is $250,000 in lost trade this season alone."

O'Neill had a dig at actor Russell Crowe and businessman Peter Holmes a Court, the high-profile pair that recently bought the football club for $3 million.

"We can no longer rely on the privately owned Football Club bringing business to the Leagues Club," O'Neill said.

"We therefore must do what is best for the members of the club and ensure it remains in their ownership for their benefit for many years to come."

John Lord and Atle Crowe-Maxwell of PKF Chartered Accountants were appointed administrators of South Sydney Leagues Club Ltd today.

Lord said in a statement that the club is asset rich but cash poor and the board of directors has acted appropriately in the circumstances.

He also said the club would continue to trade from its current premises and creditors would receive 100 cents in the dollar.

O'Neill chaired the board meeting as regular chairman George Piggins stood down and abstained from voting on the resolution because he is the major creditor of the leagues club.


:violin: :violin: :violin: :violin:
 

PEPSI

Bencher
Bunnies' year gets better and better

exactly, more violins,

who give a rats, bad luck i say,

if the 50000 half wits who marched to save them bothered to turn up to matches they would be in the black and more than likely have a competetive team,

now they are simply a blemish on the back side of our great game

AND if they didnt exist Parra would get the spoon! more reason to kick them out!
 

PEPSI

Bencher
Bunnies' year gets better and better

Maybe they should lease out the unused floor then?

in that area of Redfern ? would struggle to get $2.50 per square meter, i can see why Rusty and Holmesy are not keen to hang out there.
 

Matabele

Journey Man
Bunnies' year gets better and better

Well maybe they shouldn't have pokies "in that area of Redfern".

You can't have your cake and eat it too huh?
 

byso

First Grader
Bunnies' year gets better and better

Is Piggins still on that board?

Everything he touches turns to ****.
 

Matabele

Journey Man
Bunnies' year gets better and better

They need to find a new chairman.

Joe Williams would do it well.
 

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