Balmain Tigers Leagues Club

[Old Time Tiger]

More bad news for the Balmain half of the JV.

The Balmain Tigers Leagues Club could be placed into receivership by Tuesday night, with serious consequences for the Wests Tigers NRL club.

The leagues club has taken urgent action in the NSW Supreme Court against Rozelle Village, a property developer attempting to develop the Tigers' Victoria Road headquarters.

Rozelle Village alleges the leagues club defaulted on a series of loans, including one for $4.5 million made in 2009.

Counsel for the leagues club, Robert Newlinds, SC, said if Rozelle Village succeeds in having the leagues club placed into receivership, it could "potentially bring to an end an 108-year-old football club".

Mr Newlinds said the action "would destroy the leagues club" and "that would have knock on effects to the football club, the Wests Tigers, and the people who play in the NRL competition".

"It is highly unlikely the receiver will continue to make grants to the football club," Mr Newlinds said.

The court heard the site, on the corner of Darling Street and Victoria Road in Rozelle, has been empty for three years.

The developer bought it off the leagues club and exercised its right to evict when the state government announced plans to build a metro that would run right through the intersection.

The leagues club moved to two new premises - Five Dock Bowling Club and another venue at Flemington. Rozelle Village loaned the club millions of dollars to fit out these venues.

The leagues club was to move back into the Rozelle site once the multimillion-dollar redevelopment was complete, but progress has stalled. The metro was scrapped and the site has fallen into disrepair.

Mr Newlinds said the loans were granted "to allow us to survive during the period of the redevelopment".

But he said there is no indication that the project will ever get development approval.

Justice Paul Brereton was told Rozelle Village alleges six "trigger" events have occurred
that have led to it threatening to put the leagues club into receivership.

This includes $700,000 in interest payments owed to it.

The developer also alleges the leagues club sold off poker machine licences.

Mr Newlinds said the leagues club admitted selling off surplus poker machines but said Rozelle Village was aware and consented.

In any event, the sales occurred in the ordinary course of business, Mr Newlinds said.

He said the money was used to make grants to the football club.

Read more: http://www.smh.com.au/rugby-league/...eagues-club-20140318-34z3f.html#ixzz2wH2ENq1i

The greenies from Balmain want it turned into a park at least the Leichhardt Major is out there fighting.

 

[madunit]

essentially Balmain has been f**ked over by this development and they can't do jack shit about it.

They could always file for bankruptcy and not pay the debt at all. Can't see a rich bloke coming to the party to save the club given they'd get nothing from their investment.

The job's f**ked.

 

[Dr Gonzo]

Where does Elias fit into this? Never quite understood all that

 

[madunit]

wasn't he a director of Rozelle Village at the time that they bought Balmain leagues.

A gig he's now quit from, however his company owns a big share in the rozelle village development.

some shit like that. I'm obviously not across it too well, so happy to be corrected.

 

[macnaz]

More bad news for the Balmain half of the JV.




Read more: http://www.smh.com.au/rugby-league/...eagues-club-20140318-34z3f.html#ixzz2wH2ENq1i

The greenies from Balmain want it turned into a park at least the Leichhardt Major is out there fighting.

A hemp weaving center of excellence would be more suitable.

 

[macnaz]

End of the day, I think investors ( including backdoor ) and Balmain have been screwed by firstly the State Government for pulling the pin on the light rail station which is what brought interest from the investors in the first place and then followed up by local council selfishness and short sightedness. .. under the current arrangements we can not even build a club the same as the one that closed... f**k u yuppy spastics !!

 

[macnaz]

To put it another way. . The immediate locals aren't interested in a club or a shopping Centre unless perhaps solar panel negative carbon footprint hash oil infused lava lamps have a 25% sale on.. SO when a planet saving ELECTRIC NON CARBON PRODUCING LIGHT RAIL was on offer it meant these backward f**k wits would flock through the precinct and may even stop at a shop that paid rent to provide basics like a f**king 2014 doctor or a chemist that sold shit other then pot that might cure their ailments. . So Christine merkinnearly stopped that and We are where we are now because most investors didnt want a bar of the new arrangements.

 

[Matchball]

In truth, lots of the blokes who used to drink there are either dead or close to it or don't live in the area anymore.
The pokies was the only viable asset, not the F&B.
But who would go there? I can say I wouldn't because it's not the same as it once was.
Just pensioners doing their pension in queen of the niles.

 

[macnaz]

Thats why the alternative method of attracting extra people in a dud area was appealing.
I personally went there after every Leichhardt Oval game ( and fuxking loved it ! ) and ate there often even though I lived out of the area.

 

[Matchball]

I have fond memories in that club. Legends nightclub and cheap Sunday roasts and ice cold beers.
It can't ever be that again, Woolworths and doctor clinics in the mix. it's time to forget having a leagues club there and let it go.
It's hard to think that back in the late 80's and early 90's, Benny was god to that club and was surrounded by fans after games. Nearly two decades later and he crushed the soul out of it for money and leaving Balmain homeless.

 

[innsaneink]

wasn't he a director of Rozelle Village at the time that they bought Balmain leagues.

A gig he's now quit from, however his company owns a big share in the rozelle village development.

some shit like that. I'm obviously not across it too well, so happy to be corrected.

I think thats pretty close tbh...but im also not 100%

 

[RedVee]

I had quite a few good nights at Balmain Leagues watching bands and having a few drinks.
It is a shame it has come to this.

 

[goodplayer]

reports of $8million in debt over the clubs site , other reports say west tigers could fold :shock:
dont want that . nrl should step in and help

 

[madunit]

Wests tigers will survive, i'm not concerned by that.

Balmain's death is the worrying aspect.

 

[super_coach]

Weststigers will be in big trouble if the NRL withdraw their loan and as Balmain have little or no chance of paying the loan,I would imagine this will be the case.

This could not have happened at a worse time with the club trying to sign up Trddy,Sirro and Nofo. It just puts doubt in players,sponsors and fans minds

 

[macnaz]

And also money owing to Sheens .

 

[magpie_man]

surely Wests ashfield could step in here?
could the arlc step in and buy out balmain's share of the JV?

 

[Ned Kelly]

Sorry old fella. I think you have been doing a little to much tugging in your time. How on earth do you come up with blaming the "greenies from Balmain"?
Do you reckon they have more power than the greenies of anywhere else in Australia combined.
Maybe I missed it but I haven't read anything in the papers about the "greenies" preventing it.

Sadly it appears to be a collection of poor decisions by a number of people.

The greenies from Balmain want it turned into a park at least the Leichhardt Major is out there fighting.[/QUOTE]

 

[BuffaloRules]

And also money owing to Sheens .

I thought according to most here that the club had legal advice that means they are in the right with Shines?:sarcasm:

 

[BuffaloRules]

I am concerned about these developments.

I think that the only way it can be successfully turned around is on the field with some good results....

I'm hoping the Wests Tigers can go into Round 5 v Manly no worse than 2-2 and it is a sunny Sunday at LO.

The crowds will be back.