Just some thoughts.
1/ If Balmain have no say in the Wests Tigers because they screwed up financially, and some supporters no longer wish to be associated with the club because Balmain has lost their influence, then vote with your feet and take a hike. Small loss in the scheme of things.
2/ Wests have repeatedly said they have no intention of trying to become the Magpies again, so any debate about this is pointless.
3/ The NRL now have the deciding vote on the board. This could go one of two ways. It may succeed with the infighting now solved due to Balmain losing their vote. Or the NRL may push for things neither Wests nor Balmain would have liked, for example abandoning suburban grounds or worst case relocation. They may push the Wests side until Wests decide to pull out of the JV and the license is revoked, leaving the way for expansion to Perth etc. We had better hope that the NRL has an interest in our club succeeding in its current form because we have now lost the power to dictate our own future.
4/ Wests offered Balmain the opportunity to maintain a presence on the board but in a minority capacity and bail them out financially but Balmain declined because the distrust between the 2 sides of the JV was so great they decided to have NO say on the board in order to prevent Wests from having the power. Even though Wests guaranteed to preserve the Wests Tigers, Balmain chose to give the deciding vote over our clubs future to the NRL rather than trust their JV partner. Sad state of affairs, and hope it doesn't result in the death of the JV altogether if the NRL push Wests to the point where they withdraw.