Which NRL club is selling assets due to financial strife?

[double hoops]

From the mole.

SYDNEY CLUB IN FINANCIAL STRIFE
Which club is in financial strife and needed the NRL to buy one of its assets to bail it out of danger?

It's all been kept very hush-hush for fear of spooking sponsors and stakeholders.

Here's a clue… it's one of the many Sydney clubs… and won a comp in the 2010s.

 

[Disco]

From the mole.

SYDNEY CLUB IN FINANCIAL STRIFE
Which club is in financial strife and needed the NRL to buy one of its assets to bail it out of danger?

It's all been kept very hush-hush for fear of spooking sponsors and stakeholders.

Here's a clue… it's one of the many Sydney clubs… and won a comp in the 2010s.

Saints, Manly, Roosters, Souths, Cronulla.

You can rule and Roosters and Souths I'd say.

Cronulla have that big development so should be fine?

That leaves us and Saints. As it stands under Mestrov we seem to be doing okay so I reckon it is Saints.

 

[Woodsie]

Honest question ... do/did Manly own any assets available to sell?

 

[Phobia]

Honest question ... do/did Manly own any assets available to sell?

I was going to comment on this, what would we even sell? Other clubs it's relatively obvious, and honestly, I think it's most likely to be Cronulla. They brag about being the only team to own their stadium, but from what I've heard, that arrangement has driven a loss for them. Wouldn't surprise me if they've sold those units next to Shark Park early.

What assets do the Dragons have?

 

[manly al]

Honest question ... do/did Manly own any assets available to sell?

That 's a fair point .
Saints had an injection of private equity not that long ago but apparently were having some financial issues before that .
Sharks some definite operating problems over time but should be a bit more secure these days
Plenty of public or supporters discord with the Dragon "s direction in recent seasons probably not helping at all .
So more likely them and with some operating problems

 

[jbb/james]

the NRL purchased a hotel in shark park developement about a year ago, maybe they have increaed its shareholding in some way

 

[Stuey D]

My first thought even before the clues (SYD club, Premiership) was the Sharks. The development didn't go nearly as well as all expected. They were a poorly managed club that got themselves into massive debt and thought they had this golden ticket that would save their ass. They still have that same rubbish management that got them into trouble in the first place & now the gravy train is empty!

As if we have any assets.

 

[Woodsie]

I believe there were some reports that said all clubs made financial profit last year ... if so this would indicate that any losses would have been incurred in non football endeavours ... Manly don't have any to my knowledge .

again, Cronulla says hold my beer ...

 

[Mark from Brisbane]

Honest question ... do/did Manly own any assets available to sell?

None that I’m aware of, unless the Pennster is going broke and needs to sell something to survive.

 

[Woodsie]

None that I’m aware of, unless the Pennster is going broke and needs to sell something to survive.

Possible .. but the report stated ... "Which club is in financial strife and needed the NRL to buy one of its assets to bail it out of danger?"

I know Moles reports are not necessarily accurate .. but Penn's assets are not club assets ...

 

[Darknstormy]

Honest question ... do/did Manly own any assets available to sell?

Maybe the plastic chairs left by Barrett?

 

[Frogz]

Maybe the plastic chairs left by Barrett?

I think that was on the liabilities side of the balance sheet, not an asset.

 

[Mark from Brisbane]

Possible .. but the report stated ... "Which club is in financial strife and needed the NRL to buy one of its assets to bail it out of danger?"

I know Moles reports are not necessarily accurate .. but Penn's assets are not club assets ...

No he’s just struggling to be relevant , I used to follow him on social media big withdrew as he just posts a bunch of crap.

I imagine he’s getting paid by the clicks to his story so he tends to post a bit of ****.

 

[Scorpio]

No he’s just struggling to be relevant , I used to follow him on social media big withdrew as he just posts a bunch of crap.

I imagine he’s getting paid by the clicks to his story so he tends to post a bit of ****.

I think for the most part the sport just isn't big enough and there isn't enough actual news when you consider the number of people who are paid to write/talk about NRL.

 

[Nordburg]

As stated in other posts,the club “the Mole” is referring to is Cronulla and it’s a pretty well known fact that they had to sell off assets due or because of the development hold ups of Shark Park.Not every story by the media has to be Manly related,for those on here that get paranoid

 

[Dion Johnson]

Definitely not Manly, the administration and operational structure is functioning and financially viable.

Penn hired a good man in Tony Mestrov and he has done a great job overseeing the club's operations, ensuring alignment with strategic goals and financial sustainability.

The marketing and media teams have done a good job in enhancing the club's brand, engaging with fans, maximising revenue opportunities through merchandise and ticket sales, community and fan engagement initiatives.

 

[nightster]

I was going to comment on this, what would we even sell? Other clubs it's relatively obvious, and honestly, I think it's most likely to be Cronulla. They brag about being the only team to own their stadium, but from what I've heard, that arrangement has driven a loss for them. Wouldn't surprise me if they've sold those units next to Shark Park early.

What assets do the Dragons have?

The Taj Mahal? opened in July '63 .... land values for the site would be considerably more for apartment site I would think, and its not the money spinner it was 60 years ago when it was a huge las Vegas type nightclub