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Leagues Club annual report

G

Guest

Guest
I received my leagues club annual report the other day and it makes for sad reading.

No wonder the club reduced its grant this year as both turnover and profit have dropped in the past 12 months. They still have $8m worth of debt and no hope of reducing it without selling off its remaining assets.

Past financial mismanagement of the leagues club has finally caught up with them.

I have heard that they are sorting through 3 tenders at present to build a new leagues club. From what i have heard it sounds like the main developer wants to acquire the car park for nothing.

The longer they wait the worse their bargaining position will be. Interesting to see that their current bankers are the bank of New Zealand. If they have to take over the club then maybe we can become a feeder club for the Warriors?
 

The Wheel

https://membership.seaeagles.com.au/
Premium Member
Joined
Jul 15, 2004
Messages
15,630
Great they have directors like Zorba on the board to help them get out of the gutter
 

Ryan

Well-Known Member
Joined
Jul 16, 2004
Messages
18,867
I received my leagues club annual report the other day and it makes for sad reading.

No wonder the club reduced its grant this year as both turnover and profit have dropped in the past 12 months. They still have $8m worth of debt and no hope of reducing it without selling off its remaining assets.

Past financial mismanagement of the leagues club has finally caught up with them.

I have heard that they are sorting through 3 tenders at present to build a new leagues club. From what i have heard it sounds like the main developer wants to acquire the car park for nothing.

The longer they wait the worse their bargaining position will be. Interesting to see that their current bankers are the bank of New Zealand. If they have to take over the club then maybe we can become a feeder club for the Warriors?
The Bank of New Zealand is owned by Nab, hence it is an Australian Bank (sounds weird I know).
 

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