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Hold on, are you trying to say that you aren't aligned with 3p/Spag?
What's that got to do with the question ?...
If you must know, then the answer would be NO....
Is that ok Lawrence?
Hold on, are you trying to say that you aren't aligned with 3p/Spag?
Hold on, are you trying to say that you aren't aligned with 3p/Spag?
What's that got to do with the question ?...
If you must know, then the answer would be NO....
Is that ok Lawrence?
http://www.afr.com/business/sport/parramatta-says-nrl-club-losses-improving-20150425-1ms9bbNRL club Parramatta is on target to cut its football-related losses to about $4 million for the 2015 season, as income from record membership numbers and an increase in commercial revenue boosts its bottom line.
The club's controlling body, the licensed Parramatta Leagues Club, last week revealed it had made a consolidated group profit of $6.5 million in 2014 after the football operations made a loss of $5.6 million.
The football loss compared with a $7.5 million figure recorded in 2013. Parramatta NRL club chief executive Scott Seward said the club was forecasting a loss of about $4 million in 2015.
"We've getting close to 21,000 in terms of membership, which is a record for the third year in a row. And in terms of sponsorship and corporate income for the year, we are looking at an uplift of about 14 per cent, which is about $2 million growth."
Despite the growth in membership and commercial revenue, Parramatta's football operations are still heavily reliant on annual funding from the Leagues Club. The latter's 2014 financial report revealed it had made a payment, in the form of a loan, of about $7.98 million last year.
Seward said the next step for the NRL club is to substantially lift revenue from football-related sources in order to ensure any revenue garnered from the Leagues club could be invested in the likes of better coaching and training facilities.
"What we want to do is get our revenue up to that $40-45 million mark in the coming years, and really ensure that we can use any money from the Leagues club for projects to really improve our football department."
A mooted upgrade to its home ground Pirtek Stadium, which it shares with A-League football club Western Sydney Wanderers, could provide a substantial boost. The stadium could be in line for a refurbishment that could boost capacity to 30-35,000 with improved corporate facilities.
The matter is currently being considered by the NSW state government and Parramatta is competing with ANZ Stadium at Olympic Park and Allianz Stadium, adjacent to the Sydney Cricket Ground, for funding. It is understood the government may give funding to each of the stadiums, which may not result in full overhauls for any of the facilities.
Parramatta hope that a planned $100 million entertainment precinct to be built between the Leagues Club and Pirtek Stadium will give the club a further diversified revenue source. Among the plans, on which work will begin later this year according to Leagues Club chairman Steve Sharp, are a hotel, six-storey carpark, fitness and aquatic centre, bars, cafes, restaurants and a ten pin bowling centre.
Sharp says the Leagues Club will be able to fund 65 per cent to 75 per cent of the project's costs over the next six years, and that discussions will take place with the club's lenders for the remainder.
Parramatta also wants to build a $26 million high-performance training centre about one kilometre from Pirtek Stadium. The side is already training at the venue, which it hopes to also include community and medical facilities and the football department's head office. It will approach government for help with the funding.
But Sharp concedes the plans might be threatened by the club's board elections, due to be held in about three weeks. Parramatta has been in turmoil at board level for several years and there could be several challengers for board seats.
"What we want to be about is the future," Sharp said. "A lot of what has happened here has been looking back to the 1980s when we were successful, and we want to be like that in the future."
Wow, the plumber is obviously smarter than wet think. He's managed to get rid of all his opponents before they can run. Reminds me of Putin from Russia.
As for Pricey, he's been blowing hot air for years - but surely he should have known whether he's a paid LC member or not?
Ok, cheers. Well it's cash flow negative now (though that may be distorted a little by how costs are presently allocated), and let's say a brilliant outsider works out how to make it spin $3m a year. 5 times earnings is a little generous, but there's value in the rough chance of a significant reform to the way funds are distributed, so I'd stand by the $10m-$15m valuation....and that assumes that the buyer has some 'complementary' assets that can lever off the association with the footy club.
Wow, the plumber is obviously smarter than wet think. He's managed to get rid of all his opponents before they can run. Reminds me of Putin from Russia.
Wow, the plumber is obviously smarter than wet think. He's managed to get rid of all his opponents before they can run. Reminds me of Putin from Russia.
Smarter than you think, sure but I am not underestimating him for a second.
If the tales are true, he sided with Fitzy and his contacts to get him the job then kicked him out of his "Inner circle" the moment he was chair. I think he could see which way the wind was blowing from the Anti-spags mob and hooked on to it, and then to protect himself from the Anti-fitzy crowd. took him out of the equation as well.
Then again that is just my read on the situation.
Dumb stuff from Ben Smith... not only is he disqualified from standing, but looks like he's out of a part-time job now too?
As for Pricey, he's been blowing hot air for years - but surely he should have known whether he's a paid LC member or not?