Penn ensures clubs future

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G

Guest

Guest
It's better than nothing though Tooks and it's a start.

Yes something is always better than nothing. What i was trying to say was that our grant from the leagues club must be one of the smallest in the NRL other than probably souths seniors.

The concern is what will be the clubs future trading perfomance be in view of its run down state and will the grant ever increase beyond $1m pa (or will they be able to keep this up in the future)?
 

Ryan

Journey Man
I can help. I would have LOVED for for The Diggers, and the Leagues Club to merge, with the current Leagues Club developed into units ALA Dee Why / Collaroy owned by the club as FURTHER investment.

Both clubs memberships would bloom, and when opposition supporters come here, we WOULD look like Silvertails right on the beach !!!!
 

mcatt

Reserve Grader
the amount penn put in is believed to be 1.5 to 2 million for his 40% share.
seems a bit cheap to me, with that figure they saying the club is worth less the 5 million, aren't crowe and homes offering 10 million for 51% for souths ????

The offer for Souths is supposed to be $3mill for 75%
 
G

Guest

Guest
I can help. I would have LOVED for for The Diggers, and the Leagues Club to merge, with the current Leagues Club developed into units ALA Dee Why / Collaroy owned by the club as FURTHER investment.

Both clubs memberships would bloom, and when opposition supporters come here, we WOULD look like Silvertails right on the beach !!!!

Unfortunately that will not happen now as the diggers have merged with the mounties are have received $13m cash to renovate/upgrade the premises.

The club should have built residential or commercial units on the current car park (they could have sold enough to clear the debt and kept the rest for income) with an underground car park for the members and leased the site of the current car park to buckles as a car yard. The car dealerships pay a fortune to rent their properties in brookvale and it would have provided the club with great ongoing income each year.

if only they could wind back the clock and superleague never happened then we wouldn't need to talk about this.
 
G

Guest

Guest
[quote author=DUFFMAN]
the amount penn put in is believed to be 1.5 to 2 million for his 40% share.
seems a bit cheap to me, with that figure they saying the club is worth less the 5 million, aren't crowe and homes offering 10 million for 51% for souths ????

The offer for Souths is supposed to be $3mill for 75%
[/quote]


I don't think anyone would put money into a football club and see it as a great investment opportunity. Not many clubs make money and return a dividend to their shareholders so the sale prices to buy into clubs would/should be quite cheap.

If they wanted to make money on their investment they would be better of putting their funds into the sharemarket or property.
 

PJ

Bencher
I can help. I would have LOVED for for The Diggers, and the Leagues Club to merge, with the current Leagues Club developed into units ALA Dee Why / Collaroy owned by the club as FURTHER investment.

Both clubs memberships would bloom, and when opposition supporters come here, we WOULD look like Silvertails right on the beach !!!!

agree 100% Ryan the Diggers would be perfect!
....not a bad lawn bowls side either ;)
 

kiwigirl

Reserve Grader
I'd miss the stroll to and from the club on game day! The Travelodge probably wouldn't be too happy with it either.
 

byso

First Grader
[quote author=Ryan]
I can help. I would have LOVED for for The Diggers, and the Leagues Club to merge, with the current Leagues Club developed into units ALA Dee Why / Collaroy owned by the club as FURTHER investment.

Both clubs memberships would bloom, and when opposition supporters come here, we WOULD look like Silvertails right on the beach !!!!

Unfortunately that will not happen now as the diggers have merged with the mounties are have received $13m cash to renovate/upgrade the premises.

The club should have built residential or commercial units on the current car park (they could have sold enough to clear the debt and kept the rest for income) with an underground car park for the members and leased the site of the current car park to buckles as a car yard. The car dealerships pay a fortune to rent their properties in brookvale and it would have provided the club with great ongoing income each year.

if only they could wind back the clock and superleague never happened then we wouldn't need to talk about this.
[/quote]

If Arko didn't use Manlys money to help other clubs. We would be well ahead.

To be honest I'm surprised Arko doesn't receive more criticism for that. He also spear headed the joint venture.
 

ManlyBacker

Winging it
I don't understand why the offer and acceptance details haven't been disclosed by the club. As a football club member I am trying to understand the fluctuating percentages we have supposedly bought back. The accounts released by the Football Club in December and sent to my home show the monies collected from us were applied to a buyback of shares from Max and then deleted from the accounts as having zero value. How is this possible?

I would just like to understand what has been done and how much was involved, exactly what Penn has bought and what it means, and what is the process and conditions on football club members purchasing back control from these individuals.

I am not complaining about the fact that we have benefactors - just the silence in telling us what is going on.
 

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