Max liquid ?

[Jatz Crackers]

This was a recent bit of reporting/gossip :

"Stand by for a huge embarrassment at one high flying NRL club with its major sponsor in financial strife. Word has it the firm could go under in a move that would spell financial disaster for the club"

My opinion is this is nothing more than a page filler, but imagine if it was accurate. I took at look at the major sponsors of the 16 clubs and decided that its inconceivable that the majority of major sponsors could currently be facing financial peril. (ie Samsung, LG, Medibank, Vodafone, Toyota, Ergon, Sanyo etc etc)

I could only come up with Manly, Souths Eels and Tigers as potentials. How is Uncle Max going ?

 

[Matabele]

He's no Dick Pratt (Carlton) that's for sure.

I wouldn't be surprised if Proton (Tigers) are in strife. I made the unfortunate purchase of three of their Savvy's as delivery vehicles and they are the most useless lumps of tin **** man has ever had the misfotune to put on wheels.

Not to mention that their post-sales "service" on a "5 year, unlimited km" warranty is non-existent.

 

[PJ]

yeah Jatz- I saw that and thought exactly the same thing. Hope it's not us!

 

[Guest]

He just sold his property for over $11 million so i'd say has a bit of cash......

 

[Jatz Crackers]

He just sold his property for over $11 million so i'd say has a bit of cash......

I would presume that is a personal transaction rather than Delmege Commercial, so would be irrelevant.

 

[Matabele]

He just sold his property for over $11 million so i'd say has a bit of cash......

Unless it was a firesale to service debts. Sydney property has not been a walk in the park in recent years.

 

[CliffyIsGod]

It's gotta be that dodgy Firepower Company that sponsors Souths -- does anyone know exactly what they do?

 

[Matabele]

I understand however that Max and sons are liquid in other ways.

 

[Jatz Crackers]

It's gotta be that dodgy Firepower Company that sponsors Souths -- does anyone know exactly what they do?

Isnt Souths major sponsor Real Insurance ?

NB : Firepower supposedly manufacture fual additive tablets (cough cough)

 

[Crushercleal]

The bottom line is we can't rely on Max forever. We need a plan for our future stability.

 

[willstyles]

It's gotta be that dodgy Firepower Company that sponsors Souths -- does anyone know exactly what they do?

That's what came to my mind when I read it in RLW. There were quite a lot of stories about how dodgy that company was during the off-season.

But even then, Souths have plenty of financial backup even without Firepower.

 

[fLIP]

The bottom line is we can't rely on Max forever. We need a plan for our future stability.

The club is meant to be buying back over the next few years. Not sure on the exact details though.

 

[ManlyBacker]

Members of the MWRL Football Club Ltd now hold 21.5% of the issued capital of Manly Warringah Sea Eagles Limited. We bought back 0.75% last year so it is a slow process.

I hope the sponsorship problem is not with Manly, but my guess would be that it is Souths and a follow on from the great investigation run by the Sydney Morning Herald.

 

[Garts]

It says if the firm goes under it would spell financial diaster for the club. If thats true I would rule out souths and think it looks more like Manly considering Max owns the club and is our major sponsor.

 

[ManlyBacker]

Don't forget the Penns jumped in with a major percentage as well so it is not all down to Max. Still, it is only gossip for now but worrying.

 

[byso]

To be honest With Manly new found success there should be NO excuses for not getting a MAJOR sponsor at the end of this year.

 

[fLIP]

The warriors are privately owned but they do have Vodafone on board.

Souths have virgin blue and dual multimillionaire owners. It won't be them.

 

[fLIP]

German auto giant Volkswagen AG has scrapped plans for a tie-up with Malaysia's ailing automaker Proton, a report said Friday.

The Straits Times, citing a senior Malaysian government official, said VW delivered the news on Thursday to Khazanah Nasional, the government's investment arm which is Proton's main shareholder.

"Clearly, they don't want to pour any resources into turning Proton around," the newspaper cited the unidentified Malaysian government official as saying.

It also quoted a Malaysian bank chief executive, who was aware of VW's decision, as calling it "a major setback."

VW's reported pullout from talks comes after the collapse earlier this month of negotiations with French car giant PSA Peugeot-Citroen.

Malaysian Prime Minister Abdullah Ahmad Badawi last week said Proton was in talks with Volkswagen AG and would turn to US auto giant General Motors if those discussions failed.
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Three Malaysian automotive firms have also expressed interest in taking a stake in the company.

The government had set a deadline of this Saturday for announcing a partner for Proton but Malaysian Deputy Prime Minister Najib Razak said Wednesday the the deadline might not be met.

 

[Matabele]

Good. They don't deserve to survive.

 

[fLIP]

Would it spell financial ruin for the tigers?

I can't imagine the cashed up NRL letting a team go under while they find a new sponsor.