One can only comment on the facts laid before one. Cronullas financial facts are pretty ugly last year, like said it will be very interesting to see what 2018 looks like with the extra NRL grant and if that brings clubs back to the black or if they continue to fritter it and run up debts.
Ironically the best hope for me to ever see a Perth team in NRL is for all 16 clubs to be making roaring profits so the NRL can expand confident in the existing clubs sustainability
One can only outlay the Sharks/Bluestone development partnership split ,to our perennial whiner.My understanding:-
Around 318 units built from the start ,the profits go to the developer.
From that point on the profits are shared between the club and developer.
ATM Stage 1 involved 220 units completed and residents in place.
Stage 2 just completed 178 units Residents moving in.
Stage 3 has commenced involving 238 units.meaning a total of 636 units on the western side, of which 318 est, profits to developer, balance of say remaining 318 shared with Sharks.
Stage 4 involves 224 units DA approved bringing total to 880 units ,profits shared on the 224.Plus a hotel.
Est profits to the club $50-60m of the development in toto .
Plus annual rental up to $1m on retail site .Plus a new refurbished club with up market restaurants.The club ATM is run down and only gets decent custom on game days.
And for PR's edification the club will not be frittering money away.As an example they were under the cap this year,thus able to add to their roster this year.
The best hope for you is to cut the continual bitching,and promotion of AFL ,which has no problem frittering money away in GWS/Suns/Lions and losing out to the NRL on Fox TV ratings.Then you may get the support for the Pirates.
Beattie believes up to 6 clubs could be in the black in 2019.
Now of course what happens with the economy down ,the line is uncertain.But the club bears no risk on the development .That is the onus of the developer.It just means profits will take longer to amass.
One thing in the development's favour,there is no demand from speculative Asian buyers.80% of purchasers are from within the Shire via downsizers and young uns.
if clubs cannot operate with a $13m grant,then they deserve relocation.
