More DT Crapola - Gambling hypocrisy

[patorick2010]

Ugh.

Yeah this is a bit much.

 

[globaleagle]

Storm players to invest in online bookmaker owned by chairman

The NRL is set to allow a controversial proposal allowing Storm players to invest in an online betting agency owned by their chairman Matt Tripp and News Corp.

www.smh.com.au

This is even better than nick's free cars.

The players' dividends from the investment in their chairman's company (and newscorp's) are likely to be huge don't you reckon? Nice top-up outside the salary cap. Nothing to see here.

If manly got pinged by greenburg and his jackboots for saying 'we'll do our best regarding third party deals' - I have no idea how this can possibly be considered as 'at arm's length' by the nrl.

4 legs good, 2 legs better.

 

[Shoe1]

"At arm's length" has no place in an official policy. The Storm chairman might have very short arms.

 

[Leader of the Flock]

If manly got pinged by greenburg and his jackboots for saying 'we'll do our best regarding third party deals' - I have no idea how this can possibly be considered as 'at arm's length' by the nrl.

4 legs good, 2 legs better.

H’mmmm, seems like there’s a new version of Uncle Nick’s, alleged, golf game in town.

 

[StuBoot]

Um, how can the NRL stop players buying shares in any company if they are to be publicly listed?

 

[SeaEagleRock8]

Um, how can the NRL stop players buying shares in any company if they are to be publicly listed?

Doesn't the story say the Storm boss's company is not publicly listed ?
I thought shares in a publicly listed company can be bought and sold through the stock exchange and the market determines the price?
Whereas for a private company, the parties who are buying or selling the shares can privately decide a price?
Could be wrong. Maybe @MadMarcus or someone in finance can clarify.

 

[Shoe1]

Doesn't the story say the Storm boss's company is not publicly listed ?
I thought shares in a publicly listed company can be bought and sold through the stock exchange and the market determines the price?
Whereas for a private company, the parties who are buying or selling the shares can privately decide a price?
Could be wrong. Maybe @MadMarcus or someone in finance can clarify.

I think that is right. Publicly listed shares are different.

Imagine Mr Penn offering players ground floor investments in a start-up offshoot of weight watchers. I would imagine the nrl would have a pink fit.

 

[Ranga]

This is dodgy…. Not just that the subscription price can be arbitrarily set, but that it is likely that only Storm players will have access to the investment. If it was a Storm fan/member who only wanted to bring in Storm players into their investment vehicle, then perhaps I could get my head around it after some mental gymnastics, but the Chairman who negotiates player contracts? “Yeah, nah”.

Anyway, if I was wanting to rort the cap, I think payments from wealthy supporters in bitcoin or some other crypto currency would be the way to go.

 

[Shoe1]

Imagine if a property developer board member of a club offered cheap apartments to players the club wanted to recruit.

Imagine if a club contracted a players wife to do haircuts and waxing for players.

 

[MadMarcus]

Doesn't the story say the Storm boss's company is not publicly listed ?
I thought shares in a publicly listed company can be bought and sold through the stock exchange and the market determines the price?
Whereas for a private company, the parties who are buying or selling the shares can privately decide a price?
Could be wrong. Maybe @MadMarcus or someone in finance can clarify.

Yep, it’s a startup so it can’t be listed day 1. They can set the share price for the subscription of shares at whatever price they want - although I should say that, unless they are being really funky, the price per share paid by News, Tripp and the players should be the same.

It might get listed one day, in which case those lucky enough to be asked to be the seed investors (because they play for the Storm) will make a lot of money. While listing is an aspirational goal for many startups, with News and Tripp backing this one it has a much better than average chance of getting there if that’s where they want to end up. I suspect that behind closed doors it would be described as a “sure thing”.

 

[SeaEagleRock8]

I suspect that behind closed doors it would be described as a “sure thing”.

Makes sense. A lot of heavy punters become destitute but I haven't heard of many gambling companies failing!!

 

[ManEagle]

If this gets the go ahead it is yet another new low for the NRL administration.
There are so many alarm bells ringing it is deafening, specially from a club with a history of elaborate cheating.

 

[47MVEagle]

If this gets the go ahead it is yet another new low for the NRL administration.
There are so many alarm bells ringing it is deafening, specially from a club with a history of elaborate cheating.

It appears the Storm have found a "legitimate" way of cheating the cap.

How devious.

 

[ManEagle]

It appears the Storm have found a "legitimate" way of cheating the cap.

How devious.

It's one thing for a club to find ways of cheating the cap legitimately or not , a totally different matter for the governing body to be complicit.

And what if Vlandys becomes a director as mentioned, not much of a conflict at all is it.