Ownership model and a way to get a stadium built

[Matabele]

State Rep. Phyllis Kahn (DFL-Minneapolis) this morning unveiled a new/old idea to solve the Vikings stadium issue by having the Vikings sell ownership shares to the public.

Under her idea, the Wilf family could sell up to 70 percent of the shares of the team and still retain a controlling interest to run the team without interference from the community owners on all matters other than the idea of moving the Vikings to another state. (That should be no big problem, says Kahn, since Zygi Wilf keeps saying that he doesn’t want to move the team.)

The funds raised by the sale of shares would apparently replace the state contribution money that Wilf claims to need to complete a deal for the construction of a new stadium.

The Green Bay Packers are owned by shareholders in the community (and, come to think of it, you never hear much talk of the Packers moving to another city). The NFL has a rule that bars any team other than the Packers from being owned by more than 30 people. The bill would require the state and the Vikings to work with the NFL to permit community ownership of the Vikings.

 

[Jatz Crackers]

Ive got my piggy bank ready.

 

[Matabele]

It remains to be seen if it will work in Minnesota of course. But the model of community ownership but the people who bankroll the decisions allowed to manage the club as they see fit seems far healthier than what we are led to believe is the current situation at Manly.

 

[DSM5]

The basic problem is that Brookvale Park is currently owned by the Council. I can't see those idiots selling the structure and land to a private owner given the politics of it all. The way forward is to get the state govt to take it on as a Trust, similar to the SCG. (I think the Green Bay Packers have had a capacity crowd at their home ground for the last 280 games. To become a member and thus get a seat, one waits for about forty years, and they can't move because of their club status. They are not privately owned, unlike most other sporting teams in the US).

 

[Fluffy]

There is also a big difference in membership base.

I would imagine both the packers and vickings have more than 10K members.

Like the idea though.

 

[Crusher_Cleal]

Packers have one of the smaller stadiums in the NFL I believe, although their out of state poularity is huge.

 

[Masked Eagle]

Want to get a stadium built? Become a marginal electorate.

 

[Matabele]

With hindsight this would not work for Manly. The Vikings have a whole State behind them. Many would not come up with the money because they are a Sydney club and few people are going to galvanise behind a Brookvale redevelopment - pointing to other options in the city. There simply isn't critical mass behind keeping them on the Northern Beaches.

I do however like the model where the bankrollers have free reign and the fan base (not a faceless FC) essentially have the preference share.

 

[DSM5]

Matas, I have friends who are cheeseheads, fanatical, loyal and poor. I would dread our owners having more control than they do now. In a perfect financial world there would be no team playing out of Brookvale as it stands. Who in their right mind would turn up their noses at a guaranteed $100K, after costs, to play out of either the SFS or ANZ? The FC having more power than their financial clout is a good thing. The only option, if Brookvale isn't redeveloped as a stadium, as I see it, is playing maybe 6 games at Brookvale on a Sunday afternoon, and the rest around the place. Some at the SFS, Central coast, Port Moresby and Perth maybe. The peninsula will never be a marginal electorate and the Liberals aren't into Rugby League. A Trust maybe? That would mean State involvement, but O'Farrell is so lazy, and besides, he's a Tigers fan I believe. It's a very tricky problem which will need diplomatic skills to overcome.

 

[bob dylan]

At the end of the day it's OFarrells fault Des is leaving.

 

[manlyfan76]

1st home game next year everyone fall over at the ground and get hurt. Sue the council because of the poor condition of the ground and put the money into a new stadium ( with disabled acess)!

 

[Chip and Chase]

I thought the charter of the FC was to buy back shares in MWSE on behalf of the membership base. What ever happened to that idea ?? Actually, what do they do with the membership revenue they generate ?

 

[Canteen Worker]

The football club will put out a yearly report which will state what exactly has happened to any funds made this year. I have a few questions to ask of the FC board members (what they can share) and will get to ask one when I have some time at a time I can phone.

 

[Matabele]

I would dread our owners having more control than they do now.

I think I've worked you out. You must be a Union boss, possibly for the TWU. This is the logic QANTAS faces. 'The rights of the workers must be protected until we have so trashed the parent company that there are no rights left to protect'.

 

[SeaEagleRock8]

You on the other hand must fall squarely into the Chris Corrigan/Alan Joyce camp.