HappilyManly said:Frogz said:But Mark...None of the above come from The Football Club,....Its all From The Sea Eagles entity...isn't it??
No, all Footy Club achievements listed.
It was their vote that extended 2V and Perry, both against the Penn votes.
It is their fund raising that is clawing back the ownership from the SE Entity.
It is their votes that are ensuring the 10 games at Brookie.
The 2 Corporate Shareholders are each trying to get majority or 4/7 votes on the SE Board, it is the Footy Club that is keeping the Supporters in the game.
The strategy of paying out most, but not all of the Leagues Club debt by buying the building and car park was all for that 1 extra vote for the Penns.
Correct which is why I listed them!!
The Footy club board gets a bad wrap in the press ( ever wonder why??? ) but in reality do a great job!!
Chip and Chase said:@Frogz
The following may help explain the set up and how all the parties are inter-related. Can't vouch for accuracy of current board members though.
The Manly-Warringah Sea Eagles "Family" at the senior level is made up of three (3) separate legal entities, each with their own Constitution and Board of Directors.
Manly-Warringah Sea Eagles Limited
Privatised company that holds the NRL Licence and participates in the National Rugby League (NRL) competition.
Contracts players, coaches and administration staff, conducts Game Days at Brookvale Oval, provides Corporate Hospitality and Sponsorship opportunities, markets and sells merchandise and membership, and operates the websites http://www.manlyseagles.com.au/ and http://membership.manlyseaeagles.com.au/.
Public Company Limited by Shares.
Four shareholders - Penn Sport, Surfside Manly Football (controlled by Quantum), Manly Warringah Rugby League Football Club, and Manly -Warringah League Club.
Manly-Warringah Rugby League Football Club Limited
Public Company Limited by Guarantee (ie no shareholders).
Membership based company to which the Life Members and Members belong.
Owns 12.36% 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. The preference share guarantees no less than 10 home games at Brookvale Oval.
Manly Warringah Rugby League Club Limited
Registered Club operating licensed premises at 563 Pittwater Road, Brookvale.
Provides entertainment and facilities to League Club members and guests.
Facilities include Brasserie 563, Lyon's Den Sports Bar, bars, function rooms & poker machines.
Long time Major Supporter of the Manly-Warringah Sea Eagles.
Owns 1 ordinary share of the Manly-Warringah Sea Eagles Limited
Current Shareholders of Manly Warringah Sea Eagles Limited as at 1 February 2012
Penn Sport Pty Ltd - 9,315,884 shares = 50.07%
Surfside Manly Football Club Pty Ltd (Quantum) - 6,990,710 shares = 37.57%
Manly-Warringah Rugby League Football Club Ltd - 2,300,000 shares = 12.36%
Manly-Warringah Rugby League Club Ltd - 1 share = 0.00%
Total - 18,606,595 shares = 100.00%
Directors of the Manly Warringah Sea Eagles Limited as at 29 June 2012
Scott Penn (Chairman and co-owner)
Bob Reilly (Football Club appointee)
Darrell Williams (Football Club appointee)
Phillip Sidney (Surfside appointee)
John Walstab (Surfside appointee)
Kerry Chrysiliou (Penn Sport appointee)
Peter Peters (Penn Sport appointee)
from http://www.seaeagles.com.au/family
And NOT hard to see what a replacement of the two Football Club board members more sympathetic will do to the Sea Eagles.
Do the words " Total Control" mean anything to you ???