Broke club bail-out Rugby League 9 Dec 11 @ 04:06pm by Jon Geddes THE Sea Eagles have undergone a big shake-up with Penn Sport taking over shareholding in the Manly Leagues Club, giving them another seat on the board. The development is part of a deal in which Penn Sport has come to the aid of financially struggling licensed club. The change came about after Manly stalwart Peter Peters seriously considered resigning from his position as deputy chairman of the leagues club yesterday. But in light of the Penn bailout, he decided to stay. â€œWe have just helped out the (licensed) club financially,â€ Penn Sport chairman Scott Penn told The Manly Daily. â€œWith the refurbishments they have done it takes a bit of time to get the uplift in trading. Things have been a little bit tight so we came to a financial arrangement today â€œ That means Penn Sport will take over the leagues club seat on the Sea Eagles board with the final details now being worked out. That will give them three spots on the seven-man board. â€œI think it is a positive outcome for everyone,â€ Penn said. â€œItâ€™s really important that we have a strong and viable leagues club. They have undertaken a significant renovation and we are wanting to work with them to make sure they maximise the return on that.â€ But Penn said the Sea Eagles board still had some work to in regards how they moved forward as a group. â€œWe will do that next week so we can enter the new year with a fresh start,â€ he said. â€œThe most important thing is that we all just get on the same page. â€œWe all have got the best interests of the joint at heart.â€ Peters says he can now see some light at the end of the tunnel and is delighted by the outcome.