What does Penn get out of Manly?

John Nicholson said:
Penn is only getting negative publicity from his part-ownership - no (or minimal) visibility of the Company Name is seen in the physical sense.

So apart from possible tax write offs, why is he bothering with his toy football team.

OK they are big in the US for marijuana based medicines, but you wouldn't know that as it is only sold I think in the ACT. So far, all of the "bad" publicity, this time, stemming from the Pride Jersey ( which he allegedly had nothing to do with), and the current disarray over the football staff, what's in it for him?

He has committed the Sea Eagles to wear the Pride jersey next year (and I have no problem with that), but it creates one more reason for certain players not to want to play here next year.

If he wants to run the football team, get him back here from US, 7 days a week, put a clipboard in his hand and see if he can improve the value of Penn Health.

I feel sorry for URM, who's name is on the jersey, but then again there may be another story in that!
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Penn gets airtime for starters. This club gives him celebrity which feeds his ego.

Secondly, I've posted the figures on the leagues club sales. He's made HUGE profits.

Third, he EITHER gets a profit, or a loss (tax offsets) for an extremely strong health industry business.

Fourth, the club is a hobby / toy / plaything for him.

Honestly , I've no idea why he just won't sell. The only reason I can think of is he's making some solid cash off us. We need owners who can invest, and keep investing. Who won't make us look like an embarrassment in the media every few months.

He's made his millions from us. Why can't he just knick off. My thoughts are that he's profiteered so much and sold, if the actual numbers were released, it would shame his family.

Profits from real estate sales + NRL grants + merchandise + memberships + corporate sponsorships + gate-takings - money given back = an embarrassing number for him for acting like a martyr.
 
Ryan said:
Penn gets airtime for starters. This club gives him celebrity which feeds his ego.
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Yep - I've said this before: without the Manly Sea Eagles, nobody, but nobody would know who the **** Scott Penn is. So what does he get out of Manly? An identity he otherwise just wouldn't have.

He also gets to torture powerless fans like us with his smug face and incompetent decisions, and maybe he's into that kinda thing.
 
No idea what the reasons would be for the Penns [ and it is just not Scott ] to have a long term interest in Manly . Also majority shareholder [ think that it is currently still 67 % ] is not quite the same as having full ownership . Being chairman does naturally have some considerable more status but in regard to the present mini drama over coaching matters , sure that it would not only be Scott Penn agitating for some or a different approach or coaching set up . Would have to assume also the majority of the board and other influential sections of the club in general have a similar view or position . Mentioned previously that he [ Scottt Penn ] seemed to be quite constructive in trying to resolve that previous coaching uncertainty saga in replacing Barrett and really can not see what is so objectionable in trying to get some better results team performance wise now . , If that means Des not having full control over proceedings , so be it . Again with the present structure of the franchise arrangements , would say that they have been the only ones kicking in with required funds in any shortfall season which would have to assume would be most seasons in Manly "s case . Maybe some tax concessions for some operating losses with a sporting franchise and similar to a general company set up but would hardly think on the extensive side . Rainbow gate was not handled well by the club [ understatement of course ] and Scott [ Penn ] should have been a bit more supportive when Des was vocal on that ref controversy , ,. if the club is supposedly valued at 20 mil or so [ and that might be an overstatement ] , not sure what the Penn"s cut would be but apparently not of any interest right now or previously and again for whatever reason . .
 
Ryan said:
Penn gets airtime for starters. This club gives him celebrity which feeds his ego.

Secondly, I've posted the figures on the leagues club sales. He's made HUGE profits.

Third, he EITHER gets a profit, or a loss (tax offsets) for an extremely strong health industry business.

Fourth, the club is a hobby / toy / plaything for him.

Honestly , I've no idea why he just won't sell. The only reason I can think of is he's making some solid cash off us. We need owners who can invest, and keep investing. Who won't make us look like an embarrassment in the media every few months.

He's made his millions from us. Why can't he just knick off. My thoughts are that he's profiteered so much and sold, if the actual numbers were released, it would shame his family.

Profits from real estate sales + NRL grants + merchandise + memberships + corporate sponsorships + gate-takings - money given back = an embarrassing number for him for acting like a martyr.
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I wish I could give a triple winner
 
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