News: Penn Sport to purchase Manly-Warringah League Club

[Dan]

This sounds pretty dangerous to me, if the Penns own the Leagues club they are slowly tightening their strangle hold on the entire club, it wouldnt surprise me if they soon bought out Delmege and then they have almost 100% control of everything.

I know they love Manly but at the same time business is business and having a club that is majority owned by 1 party is a dangerous and scary thing

 

[deadlyeagle]

i disagree Dan i think having one owner offers more stability than having 2 owners consistently bickering at each other. I would rather either Delemege or the Pens to own us outright. And as u said business is business and most successful business/companies are controlled and started by one individual owner whom has support in decision making from the board of directors.

 

[Dan]

The point of a board and the way it is set up is that one party/person can not call all the shots. Unless they make a constitution that says voting still sits with the football club then I am not 100% comfortable with a single entity majority holder......same with any company really

 

[deadlyeagle]

thats my point in the fact that even if Penn / Delmege does have 100% control, they wont technically have 100% control over every decision. I more comfortable with that situation than the situation we are in now.

 

[Dan]

thats my point in the fact that even if Penn / Delmege does have 100% control, they wont technically have 100% control over every decision. I more comfortable with that situation than the situation we are in now.

But they will.

If Delmege sells to the Penns, the Penns will have over 80% control. A majority control. Having majority control means anything they want to do gets voted through because it is a majority vote. Anything the other parties want in needs to get voted in by the majority.

This is why you rarely see more than 49% being sold, someone wants to own majority always.

The way the thing is set up now is that we have 2 major share holders but votes require agreement by at least 2 of the 3 parties, essentially.

Having 1 party with a majority is as good as signing over everything and saying "Do what you want with it" a very dangerous thing

 

[DSM5]

It worries me.  Buy the club. Build apartments, then there's $8 million reasons to relocate.  It's already happening at Souths. 

 

[ManlyBacker]

[quote author=ManlyBacker link=topic=179691.msg213555#msg213555 date=1237326661]
The reality is that the club should reconsider seriously an amalgamation with the Mounties or other clubs.

 
They did apparently and it fell through.  Keep in mind Mounties have been in this mix for several years.  They now own Harboard Diggers I think.

Interesting that you'd rather have it sold to the sponsors of the eels than a part owner of the football club.  Makes me wonder about your oft-vaunted impartiality.   
[/quote]

The Mounties do own the Diggers, there has been a full amalgamation including other facilities owned by the Diggers. The Mounties are sponsors of the Eels ( and I remember my horror on the announced buy-out) but since taking over they are sending cash towards the peninsula for Eagle events and they look like ramping it up.
I knew if I didn't join the conga line it would be only a 'mata' of time before being labelled not a 'true supporter'

 

[Matabele]

[quote author=deadlyeagle link=topic=179691.msg213681#msg213681 date=1237352887]
thats my point in the fact that even if Penn / Delmege does have 100% control, they wont technically have 100% control over every decision. I more comfortable with that situation than the situation we are in now.

But they will.

If Delmege sells to the Penns, the Penns will have over 80% control. A majority control. Having majority control means anything they want to do gets voted through because it is a majority vote. Anything the other parties want in needs to get voted in by the majority.

This is why you rarely see more than 49% being sold, someone wants to own majority always.

The way the thing is set up now is that we have 2 major share holders but votes require agreement by at least 2 of the 3 parties, essentially.

Having 1 party with a majority is as good as signing over everything and saying "Do what you want with it" a very dangerous thing
[/quote]  you're forgetting the preference share Dan (and DsM5)

 

[Dan]

[quote author=Dan link=topic=179691.msg213687#msg213687 date=1237353601]
[quote author=deadlyeagle link=topic=179691.msg213681#msg213681 date=1237352887]
thats my point in the fact that even if Penn / Delmege does have 100% control, they wont technically have 100% control over every decision. I more comfortable with that situation than the situation we are in now.

But they will.

If Delmege sells to the Penns, the Penns will have over 80% control. A majority control. Having majority control means anything they want to do gets voted through because it is a majority vote. Anything the other parties want in needs to get voted in by the majority.

This is why you rarely see more than 49% being sold, someone wants to own majority always.

The way the thing is set up now is that we have 2 major share holders but votes require agreement by at least 2 of the 3 parties, essentially.

Having 1 party with a majority is as good as signing over everything and saying "Do what you want with it" a very dangerous thing
[/quote]  you're forgetting the preference share Dan (and DsM5)
[/quote]
preference share doesnt mean **** if you have a majority share holder

 

[deadlyeagle]

they would only relocate if they were extremely desperate and in that situation i would be all for it if it meant manly was still around long term.

 

[Dan]

they would only relocate if they were extremely desperate and in that situation i would be all for it if it meant manly was still around long term.

I'm not talking about just relocation, I live in QLD what difference is it to me where their home ground is, I prefer them at Brookie obviously

I am talking about any and everything they want to do

 

[DSM5]

Deadly and Dan, why on earth would they still be called Manly if they relocated elsewhere?  They'd obviously change their name, then we'd all go to hell. 

 

[Dan]

well yeah like that true DSM, at the end of the day, same difference 1 majority owner is not a good thing going forward

 

[niccipops]

the club needs two things

a kids room so young familys can go there have a meal and mum and dad can relax or have a bet while the kids are entertained.

and secondly a nightclub opened from thursday - sunday night.

I'm all for the nightclub  - and I think pole dancers too. It will be great for our club's image lol.

 

[Matabele]

well yeah like that true DSM, at the end of the day, same difference 1 majority owner is not a good thing going forward

  You've changed your tune since 2004 then.

 

[Ryan]

Whoever owns the joint, FFS, do the dive up. I want to sit in a fresh, clean, yet nostalgic venue when visiting.

Dead set going down there at present is like stepping into Dr Who's tardis, and warping back to the early 80's R.S.L's.

Is there any wonder I put the full blame on that place for me getting my gear off when I'm drunk? The place is so boring, it's all I can do to entertain myself !

And jezuz - would it hurt to build a place that the female population would like to visit? The place looks like it was built by football players, for football players - and everyone else can ^%#$ off !

Hehehehe.
I'm done.

 

[Matabele]

Whoever owns the joint, FFS, do the dive up. I want to sit in a fresh, clean, yet nostalgic venue when visiting.

Dead set going down there at present is like stepping into Dr Who's tardis, and warping back to the early 80's R.S.L's.

Is there any wonder I put the full blame on that place for me getting my gear off when I'm drunk? The place is so boring, it's all I can do to entertain myself !

And jezuz - would it hurt to build a place that the female population would like to visit? The place looks like it was built by football players, for football players - and everyone else can ^%#$ off !

Hehehehe.
I'm done.

  What was your excuse for nuding up at Harbord Diggers and the SFS then?

 

[Canteen Worker]

I would just like to say for Manlybackers sake that I am not joining any congaline on this one and don't universally support Penn. On the stoush I have well documented views.

I don't know enough about the Leagues Club but do think that something needs to be done to get it happening, profitable and a worthy venue to attract patrons and make a profit. If we can do that, I don't care who owns the place. It needs a cash infusion and if Penn is the one to provide it, good on him. The Football Club and Leagues Club are stakeholders in this as well, and they will not release the reigns too loosely and nor should they.

 

[Dan]

[quote author=Ryan link=topic=179691.msg213787#msg213787 date=1237373491]
Whoever owns the joint, FFS, do the dive up. I want to sit in a fresh, clean, yet nostalgic venue when visiting.

Dead set going down there at present is like stepping into Dr Who's tardis, and warping back to the early 80's R.S.L's.

Is there any wonder I put the full blame on that place for me getting my gear off when I'm drunk? The place is so boring, it's all I can do to entertain myself !

And jezuz - would it hurt to build a place that the female population would like to visit? The place looks like it was built by football players, for football players - and everyone else can ^%#$ off !

Hehehehe.
I'm done.

  What was your excuse for nuding up at Harbord Diggers and the SFS then?
[/quote]
The man chicken needs no excuse really, right rhino.

 

[deadlyeagle]

[quote author=deadlyeagle link=topic=179691.msg213725#msg213725 date=1237361539]
they would only relocate if they were extremely desperate and in that situation i would be all for it if it meant manly was still around long term.

I'm not talking about just relocation, I live in QLD what difference is it to me where their home ground is, I prefer them at Brookie obviously

I am talking about any and everything they want to do
[/quote]

Well you and me both have something in common that we both live in QLD.

But whatever there plans will be to turn this club into a profitable organization, they wont be looking to change the name or relocate because both owners love Manly. The fact of the matter is if you a worried about relocation as your not, as this looks highly unlikely after this recent purchase & as it was a scare tatic from Delmege.

If they sack a player or a coach,also highly unlikely, Manly will live on.

But the benefits from a sole ownership is quick decisive decision making without the argument or disagrement between parties.

Now some might argue what happens if they make the wrong decision well now this is where the board will come in and help with the decsion making. They might not change it but offer different perspectives.

There are so many business that fail due to improper action and disagreement between parties with 50% ownership. This can be applied directly to Manly especially in the case of the purchase of the Leagues club, Grant Myer job, Des Hasler contract, Sponsorship Saga and even the Monas Saga were due to disagreements between parties. Now if one party were involved these "events" would not have happened and there would have been quick responses yes or no which would save the long negative media fest that it leaves behind.

when these parties or factions disagree it creates ineffectiveness and inefficiencies for the business which otherwise would have not been created if one has main ownership.

What the worse they could do to destroy the club?.... that they love

Anyways that's just me and it seems i will agree to disagree on the issue.