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[Resurrected] Penn selling the club??

Chip and Chase

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Does anyone know if the North Sydney Bears consortium offer is still on the table ??
 

Chip and Chase

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The latest from Danny the Worm's column today

Eagles flying high at $20m-plus
It seems likely the Penn family will remain owners of the Sea Eagles. They had a huge offer on the table but, after several meetings, the offer was rejected. It seems the Penns are pricing their asset well above the $20 million mark, way out of reach of the prospective buyers.


I was always told something is only worth what someone is willing to pay for it. They can value it at whatever they want, but it's only going to be worth what they can actually sell it for.
 

Johnno74

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Yes tend to agree Manly tragic,the Penns know the club in and out they will sell when they seem fit plus new owners could mean new ideas not always for best
 

Woodsie

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Pathetic really ... there are McDonalds outlets worth more .....
 

globaleagle

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Friggen Danny the worm.

All year:

Worm: Manly is up for sale!
Penns: Manly is NOT up for sale.

eventually after not getting anywhere and needing something to print...

Worm: Err, like right, ok - Manly are not being sold because... ummm Penns wouldn't accept 20mill (even though a couple of months ago I said it was worth 5 mill). Yeah so ok. Off to have a drink with Phil.

 

Peter C

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Pathetic really ... there are McDonalds outlets worth more .....
Yes, however those Maccas outlets actually make a good profit.
You only buy a rugby league team if you have money to burn, or one which has a very large fan base
 

Ranga

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Weidler says a group associated with the NFL are interested in buying Manly. Also details info about the $20m offer apparently made to the Penn’s last year and discussed in this thread.

 

Luke_m

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The man behind the $20 million bid to buy Manly
By Danny Weidler
July 4, 2020 — 11.59pm

Some refer to him as ‘‘The Jeweller’’. And in pre-COVID times, he worked for the love of it at Manly as a gear steward. But the softly spoken, kind-hearted boss of Affinity Diamonds, Sam Rahme, has emerged as the unlikely mastermind behind a $20 million offer to buy the Sea Eagles from the Penn family.

There are also stories swirling that a group with links to America’s NFL is looking at buying into the Manly club. It sounds remarkably similar to the offer Rahme had in place when he made a play for the Sea Eagles.
The offer was rejected by the Penns last year – and it’s unlikely to return to the table. But it was a play that could have made the Sea Eagles the ‘‘Silvertails’’ again.

Rahme wasn’t putting up all the money; he had brought people together to finance the deal. He is a passionate Sea Eagles man and a close friend of coach Des Hasler. The shy Hasler will rarely appear at social gatherings unless Rahme asks him to attend. It is believed Hasler knew Rahme was the man behind the deal to buy into the Sea Eagles.

Rahme had used his considerable contacts to get the owners of the Philadelphia Eagles NFL franchise on board for the bid. He also had a prominent Sydney philanthropist willing to invest, as well as a South Pacific government, which was ready to provide money and a pathway for players.

It was all in place and lawyers acting for Rahme had the funds ready to go. The investors, combined with the overseas input, would have had the potential and connections to make Manly a genuine powerhouse again. But the Penn family knocked back the offer, without giving it much consideration. Today is the first time they will know the full details of the bid.
Star forward Marty Taupau is close to Sam Rahme, the man behind the bid to buy the Sea Eagles.

Rahme is close to Manly players Daly Cherry-Evans and Marty Taupau. It is thought they were deliberately kept out of the loop. It will be interesting to see if Scott Penn entertains this new approach from the NFL arena – if it’s true – because it would be hard for anyone to match the pre-COVID offer made by Rahme’s group.
The current NFL interest is understood to be from Florida. Penn spends much of his time in New York, where he is happy and has started a new family. Most of the dealings Rahme had were with Scott’s father, Rick Penn.
Rahme was contacted but did not want to comment on this story.
 

manlyfan76

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Does money talk?
I reckon you could pick up the broncos pretty cheap ATM.
 

manly al

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Probably can only be a powerhouse with an abundance of third party deals . Maybe some well connected and successful business type interests could provide this and if they are prepared to buy into even some equity into the Sea Eagles franchise . Never seem to hear much about those two businessmen [ identities ] who have that 15 % stake in the club and their general input . .
 

The Who

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If there is any truth in the Weidler rumour then we must ask ourselves one question: why wouldn't the Penns sell?
I've come up with two logical answers:
1. The offer never stacked up financially and was too vague to consider, or
2. The Penns have a deep love of the club and genuinely believe they are the right owners to continue Manly's ascendancy to becoming a powerhouse.
 

Ranga

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If there is any truth in the Weidler rumour then we must ask ourselves one question: why wouldn't the Penns sell?
I've come up with two logical answers:
1. The offer never stacked up financially and was too vague to consider, or
2. The Penns have a deep love of the club and genuinely believe they are the right owners to continue Manly's ascendancy to becoming a powerhouse.
It’s probably a mix of both, @The Who.
 

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