Dean Ritchie blog

[lsz]

Thanks Jonsey

I still find it a bit weird that you were not informed but such is life

What is even more worrying is Melinda Gainsford coming out and stating she had no idea about the des situation

 

[robbiea]

I think your messiah Penn has a bit more to do with it ,more than you want to let on !!
Everything I hear is that he is a rich prized f**wit..

 

[Matabele]

Jonsey is that the board you are on (not having a go just confused)

I am on the Football Club Board, FYI the Structure of the MWSE ltd (The Sea Eagles) is as follows:

Structure of the Board of the Manly-Warringah Sea Eagles Limited

1 Chairman (appointed on a 75% board approval)
2 Directors appointed by Manly-Warringah Rugby League Football Club Limited
2 Directors appointed by Surfside
2 Directors appointed by Penn Sport Pty Ltd
1 Director appointed by Manly-Warringah Rugby League Club Limited*

Are these people paid? If so, by whom? If they are volunteers then surely their motivation is a love of the club and football team. I may be naive but that's been my experience with volunteers, yet I keep reading about them having 'agendas'. What would these agendas be?

PReventing the power of the FC and LC from being watered down, despite the inability of either to cover the share of operational losses their shareholding would indicate they are responsible for.

Delmege had the same problem apparently.

 

[Northern Rhino]

something tell me we might never know

 

[BOZO]

I think your messiah Penn has a bit more to do with it ,more than you want to let on !!
Everything I hear is that he is a rich prized f**wit..

What do you hear and from who???

 

[The Who]

Jonsey is that the board you are on (not having a go just confused)

I am on the Football Club Board, FYI the Structure of the MWSE ltd (The Sea Eagles) is as follows:

Structure of the Board of the Manly-Warringah Sea Eagles Limited

1 Chairman (appointed on a 75% board approval)
2 Directors appointed by Manly-Warringah Rugby League Football Club Limited
2 Directors appointed by Surfside
2 Directors appointed by Penn Sport Pty Ltd
1 Director appointed by Manly-Warringah Rugby League Club Limited*

Are these people paid? If so, by whom? If they are volunteers then surely their motivation is a love of the club and football team. I may be naive but that's been my experience with volunteers, yet I keep reading about them having 'agendas'. What would these agendas be?

PReventing the power of the FC and LC from being watered down, despite the inability of either to cover the share of operational losses their shareholding would indicate they are responsible for.

Delmege had the same problem apparently.

Thanks for the explanation. Again I have what may be a naive question. If the Leagues Club doesn't contribute financially to the running of the Football Club, why do they get a say?

 

[WAMF]

How healthy is it to hand Zorba the keys to the FC? Would Zorba have the best interest of the club itself at heart, while his nephew owns half the joint?

How much of his own money has all talk no action Reilly put in the club.

Reilly was elected, you know, when people vote for who's best for the role, to both the FC and Leagues club boards. He wasn't elected for his financial contributions, that was never a prerequisite. I believe Reilly has been voted in by members in the best interests of the member base.

Zorbas nephew put his hard earned cash where his heart is and that is the Manly club . To say that a man that pours his own money into the club he loves dosent have the club it self at heart is as ridiculous.

Why is it ridiculous for me to believe that Penn eventually wants a return on his investment? I am grateful to the Penn family for their ongoing commitment. Of course, when he negotiated the original deal to buy part of the Sea Eagles, he knew exactly how structure would work before he agreed, eg: Penn 2 seats, Delmege 2 seats, FC 2 seats and LC 1 seat.

Reilly dosent have the skill, respect, support and the numbers to remain on the board . Watch this space!!! 😎😎😎

Speaking of skills which you claim to be acutely aware of, please outline the skill sets of whoever you are proposing replace Reilly.

 

[tookey]

I think your messiah Penn has a bit more to do with it ,more than you want to let on !!
Everything I hear is that he is a rich prized f**wit..

But would we still have a team without him? Are the other shareholders in a position to keep putting money in to cover losses each year? I doubt it. I am sure that penn would be more than happy to sell you his 42% share for a few million.

Maybe the club should be a public company and we can all buy shares in it and vote of our own board members and how the company is run?

 

[Chip and Chase]

No wonder Kaspersky bought into the club, it has all the hallmarks of the Kremlin's power plays. Des as Stalin, the power mad despot, the Board as the People's Comissariate, bravely attempting to curb that power, Zorba as Rasputin, lurking around in the halls of power. All we need is Trotsky and we'll have vodka served on the hill thanks very much.

It's the wielder of the ice pick that you have to be wary of.

 

[tookey]

Jonsey is that the board you are on (not having a go just confused)

I am on the Football Club Board, FYI the Structure of the MWSE ltd (The Sea Eagles) is as follows:

Structure of the Board of the Manly-Warringah Sea Eagles Limited

1 Chairman (appointed on a 75% board approval)
2 Directors appointed by Manly-Warringah Rugby League Football Club Limited
2 Directors appointed by Surfside
2 Directors appointed by Penn Sport Pty Ltd
1 Director appointed by Manly-Warringah Rugby League Club Limited*

Are these people paid? If so, by whom? If they are volunteers then surely their motivation is a love of the club and football team. I may be naive but that's been my experience with volunteers, yet I keep reading about them having 'agendas'. What would these agendas be?

PReventing the power of the FC and LC from being watered down, despite the inability of either to cover the share of operational losses their shareholding would indicate they are responsible for.

Delmege had the same problem apparently.

Thanks for the explanation. Again I have what may be a naive question. If the Leagues Club doesn't contribute financially to the running of the Football Club, why do they get a say?

Haven't they contributed $6m since 2004?

 

[BOZO]

How healthy is it to hand Zorba the keys to the FC? Would Zorba have the best interest of the club itself at heart, while his nephew owns half the joint?

How much of his own money has all talk no action Reilly put in the club.

Reilly was elected, you know, when people vote for who's best for the role, to both the FC and Leagues club boards. He wasn't elected for his financial contributions, that was never a prerequisite. I believe Reilly has been voted in by members in the best interests of the member base.

Zorbas nephew put his hard earned cash where his heart is and that is the Manly club . To say that a man that pours his own money into the club he loves dosent have the club it self at heart is as ridiculous.

Why is it ridiculous for me to believe that Penn eventually wants a return on his investment? I am grateful to the Penn family for their ongoing commitment. Of course, when he negotiated the original deal to buy part of the Sea Eagles, he knew exactly how structure would work before he agreed, eg: Penn 2 seats, Delmege 2 seats, FC 2 seats and LC 1 seat.

Reilly dosent have the skill, respect, support and the numbers to remain on the board . Watch this space!!! 😎😎😎

Speaking of skills which you claim to be acutely aware of, please outline the skill sets of whoever you are proposing replace Reilly.

Reilly was voted in but he has proven that he is not the best man for the job as he has divided our club and our members will judge him on this when they throw him out on the next board election. end of story.

 

[Matabele]

I'd be fascinated to know how much the FC and LC have tipped into football operations over the past 24 months. I was once promised the information (one wonders why it is a state secret for a member of both entities) though it has not been forthcoming. Perhaps we could be enlightened as to recent FC and LC largesse and stand corrected.

 

[westbec]

I'd be fascinated to know how much the FC and LC have tipped into football operations over the past 24 months. I was once promised the information (one wonders why it is a state secret for a member of both entities) though it has not been forthcoming. Perhaps we could be enlightened as to recent FC and LC largesse and stand corrected.

Excluding sponsorship:

Leagues Club - $620k in equity and $100k in propagation = $720k

Football Club -$18.75k in equity

Penn - $580k in equity

Quantum/Delmege - $335k in equity

ASIC records don't disclose sponsorship specifically, but
based on previously reported sponsorship amounts, the Quantum/Delmege figure including sponsorship would go to at least $1.2million. Penn and the Leagues Club probably could add about $300k each in sponsorship, bringing Penn to around $900 k and the Leagues Club about $1 million.

 

[Matabele]

Fantastic, so the FC has contributed $18.75k in the space of two years. So we have a member of the FC Board in another thread suggesting:

"each owner will of course want to have a say to protect their equity and to have their input in the running of the business thay have an ownership of".

With 2 out of 7 votes one wonders how the FC is going to protect their equity in the long term or justify what is emerging about the substance of "their input into the running of the business they (supposedly) have an ownership of".

 

[WAMF]

I think that it would be common knowledge that Ritchie has spoken to Des a number of times in recent weeks.

If it's such common knowledge, where are the quotes from Des?

Not sure. Guess you will have to ask Ritchie that.

Nice deflection away from your moronic statement. If it's common knowledge, back it up with an ounce of fact....or shut up.

 

[jjai]

I think your messiah Penn has a bit more to do with it ,more than you want to let on !!
Everything I hear is that he is a rich prized f**wit..

heyaaaaaaaaaaaa..
BINGO!!!!!!!!!!!!!!!..
:argue:

 

[The Wheel]

Fantastic, so the FC has contributed $18.75k in the space of two years. So we have a member of the FC Board in another thread suggesting:

"each owner will of course want to have a say to protect their equity and to have their input in the running of the business thay have an ownership of".

With 2 out of 7 votes one wonders how the FC is going to protect their equity in the long term or justify what is emerging about the substance of "their input into the running of the business they (supposedly) have an ownership of".

I think here in lies the problem, the FC board want to run the show but cant contribute a red cent (sorry $18K).

Dont forget Penn also bailed the Leagues Club (under reilly) out by buying the land/premises. Without this the Leagues Club would be struggled to stay open, the Bankers were knocking on the door.

Dont bite the hand that feeds you Bob!

 

[Matabele]

So I'm getting the impression, Wheel, that the Leagues club hasn't fared so well in recent times under current management? Did Penn really have to step in and keep it liquid?

 

[WAMF]

Fantastic, so the FC has contributed $18.75k in the space of two years. So we have a member of the FC Board in another thread suggesting:

"each owner will of course want to have a say to protect their equity and to have their input in the running of the business thay have an ownership of".

With 2 out of 7 votes one wonders how the FC is going to protect their equity in the long term or justify what is emerging about the substance of "their input into the running of the business they (supposedly) have an ownership of".

I think here in lies the problem, the FC board want to run the show but cant contribute a red cent (sorry $18K).

Dont forget Penn also bailed the Leagues Club (under reilly) out by buying the land/premises. Without this the Leagues Club would be struggled to stay open, the Bankers were knocking on the door.

Dont bite the hand that feeds you Bob!

Then don't cry like a baby when that same 'hand' doesn't want to pay Hasler's asking price.

 

[Matabele]

Well you wouldn't get much of Hasler for $9.375k per year would you?