News: Manly hit as sponsor follows captain out the door

[ManlyBacker]

<p>ONLY days after losing its captain to England, Manly is battling to replace one of its major sponsors and staring at a $500,000 hole in its budget.</p>


<a href="http://www.silvertails.net/news/4402-manly-hit-as-sponsor-follows-captain-out-the-door.html">Read the full article</a>

 

[Cameron]

more sensationalism from those ****s at news ltd.

As for the 500k cash injection
i have a feeling it could be a 3 way injection
with penn, delmege and the leagues club all chipping in.

The way bob reilly explained this too me is, that when there is a short fall at the end of the season and they inject money in to the business they actually buy more equity in the club. We all know thru his open letter on this site that the leagues club has suggested they will look at buying more shares in the club.

As for mack trucks we all know this has been coming for awhile.

Maybe we might see Delmege commerical back on our jersey now max seems to be doing it better finanically.

 

[ManlyBacker]

Agree Cambo, it is a bit of a beat-up. Bob Reilly from the Leagues Club said that the contribution would be 200k as a minimum. They have been giving more than 500k in recent past years and I am sure it will be higher, probably dependant on his equity request being granted by the Penns and Delmeges. Still, someone needs to actively push for major sponsors as there isn't a river of money around for the club at the moment.

 

[The Wheel]

My understanding is that there is another sleeve sponsor waiting in the wings

 

[Guest]

I wonder how long the owners will keep putting money into the club.  It sounds like they will need to put in another couple of hundred thousand dollars each again this year.  

They must surely be getting sick of doing it every year?

 

[Cameron]

I wonder how long the owners will keep putting money into the club.  It sounds like they will need to put in another couple of hundred thousand dollars each again this year. 

They must surely be getting sick of doing it every year?

two words
TAX DEDUCTION

 

[Ryan]

Bob Reilly told me personally on the phone they already had a replacement for the sleeve sponsor. I don't know if I'm supposed to say that publicly - but whatever. I personally believe they are waiting for the new CEO to be announced, and will try and pass off that whoever it is has personally brought on this sponsor (ALA Graham Lowe).

At least we know the crux of it.

I'm also betting Lowe will take the glory for the re-signings of Robertson and Williams (and maybe Foran), when they have probably been already done.

 

[ManlyBacker]

two words
TAX DEDUCTION

No chance of that. Either it could be treated as a loan to the Sea Eagles Limited entity (and they hope top recoup it later) OR they have managed to wrangle themselves on to the ATO approved Gift Register (such as a charity) - and I don't think so!!!

 

[rodders8]

You would think that a pre-requisite for the new CEO is he/she needs to bring in $500k per year sponsorship from day one. Therefore if this basic requirement is satisfied, the frunds from the sleve spponsor will be be replaced on the announcement of the CEO. The $500k sponsorship from the new CEO is important but again just a basic requirement.

 

[ManlyBacker]

rodders and Ryan, I don't understand how someone does that.

Was there a section in the application where , along with their CV, they could list this magical sponsor?

I can hear the conversations in the boardrooms of Australia:

"Hi <insert business name here>, I have applied for the position of CEO at Manly and even though I have no idea whether I will get the job I want you to commit to <insert huge amount here> so that I can announce my fantastic effort to the faithful, should I get the job"

???

 

[Matabele]

Bob Reilly told me personally on the phone they already had a replacement for the sleeve sponsor.

  What.  Was he making his next sandwich order ?