Billionaire Harry Triguboff expresses interest in buying Wests Tigers

[The Charlatan]

I wouldn't be getting too excited just yet. It's all fanciful thinking at this time.

 

[benched tiger]

Or he could just stand back seperate from the club and make MASSIVE third party payments for any player we like and blow the clubs like the rorters away. Id say the nrl would quickly change the rules then .

Last month there was a hint that this was the avenue the club was thinking of going with Harry in one of their press releases regarding future club sponsorship.As it is now it is the only way a club can compete against the teams like the Rorters and Broncos,if you cant beat them you have to join them,fortunately for the WT they have a willing billionaire who wants to help.Why not take the opportunity, i am sure every other club would if Harry came knocking..!
The WT have had 15 years to build and be a financial,viable entity and failed,now its time to move forward and not dwell on our past or our club will never progress.
Harry now sounds like he may even want more involvement in the club,at least some good business practices would be put into place to ensure our future has some chance of success regardless of whether he is covering the TPA or taking control of the club privately.

 

[madunit]

Being a third party sponsor doesn't really give Harry much return on his investment.

Hence why owning the club is more to his liking.

 

[BuffaloRules]

I think this is more about getting his hands on the redevelopment.

Yeah... Cause he needs to be making an extra couple of mil at this stage of his life...

Maybe he just wants to help his footy team win games...

 

[RL The greatest game]

If Wests were my club i would welcome him with open arms.and I'm sure other clubs would as well.

 

[The Charlatan]

Yeah... Cause he needs to be making an extra couple of mil at this stage of his life...

Maybe he just wants to help his footy team win games...

Yeah fair call.

Harry could have bought Balmain out years ago... I find it odd that he's talking about it now is all.

 

[benched tiger]

I am under the impression that Balmain dont actually own the Rozelle site anymore having turned it over to Benny & the Rozelle village developers,who inherited the clubs debt in exchange for the sites title,the plan was to complete the project,where Balmain would then lease back the new leagues club.So saying Harry is in it for the Rozelle site is off the mark,he may have liked a chance in developing the site previously with the Balmain club but they strangely chose another developer thats gone to sh#t for various reasons.

 

[Sydney Knight]

Balmain definitely no longer own the sites. But they have an agreement to be leased back 2 floors.

A new development went before council today. Benny Elias and his organisation seem long gone? I think this is a different developer.

Apparently the rent back clause expires if a development isn't approved by sometime late this year hence the urgency.

 

[DanOz]

At no time have Wests indicated they have any intention of selling. They don't need Harry's money. In 1999, the Wests Magpies had $2 million in assets. In a day and age where Clubs are struggling to turn a profit, in the last financial year the Wests Magpies had $60 million in assets. Harry knows this - he wants to look good for the Balmain faithful by offering to buy what has never been for sale.

If Harry wants to save Balmain, pay their debt and build them a Leagues Club in Liverpool where the proposed super stadium is to be built. Balmain get 50% of the board back, they get an income, and the future of the Wests tigers would look great if they learn from the mistakes of the past and get their shit together in the board room.

But this is unlikely to happen. Wests won't sell, Harry won't save Balmain, and Wests will get first option to buy Balmain out March 31, 2016.

 

[magpie4ever]

At no time have Wests indicated they have any intention of selling. They don't need Harry's money. In 1999, the Wests Magpies had $2 million in assets. In a day and age where Clubs are struggling to turn a profit, in the last financial year the Wests Magpies had $60 million in assets. Harry knows this - he wants to look good for the Balmain faithful by offering to buy what has never been for sale.

If Harry wants to save Balmain, pay their debt and build them a Leagues Club in Liverpool where the proposed super stadium is to be built. Balmain get 50% of the board back, they get an income, and the future of the Wests tigers would look great if they learn from the mistakes of the past and get their shit together in the board room.

But this is unlikely to happen. Wests won't sell, Harry won't save Balmain, and Wests will get first option to buy Balmain out March 31, 2016.

I agree Wests don't want or need Harry's money. If he wants to he can save the Balmain's side of the JV.

If he did get 100% ownership it might be ok while Harry kicks on but when he goes arse up I doubt the family will be so willingly to throw money away. No one can make money long term out of rugby league club ownership.

 

[gallagher]

At no time have Wests indicated they have any intention of selling. They don't need Harry's money. In 1999, the Wests Magpies had $2 million in assets. In a day and age where Clubs are struggling to turn a profit, in the last financial year the Wests Magpies had $60 million in assets. Harry knows this - he wants to look good for the Balmain faithful by offering to buy what has never been for sale.

If Harry wants to save Balmain, pay their debt and build them a Leagues Club in Liverpool where the proposed super stadium is to be built. Balmain get 50% of the board back, they get an income, and the future of the Wests tigers would look great if they learn from the mistakes of the past and get their shit together in the board room.

But this is unlikely to happen. Wests won't sell, Harry won't save Balmain, and Wests will get first option to buy Balmain out March 31, 2016.

What super stadium?

 

[madunit]

Even if Wests buy out the Balmain half of the JV, the club will still be the Wests Tigers

 

[Hello, I'm The Doctor]

Ive lost track of this a bit....

Do Wests Campbeltown still own part of the club, or is it Wests Ashfield now??

 

[Fordy20]

Just Wests Ashfield.

 

[Hello, I'm The Doctor]

Just Wests Ashfield.

Really??

Its interesting that they are still pushing games down in Campbeltown then, given literally any other Sydney stadium would be closer.

I mean, i cant imagine they MAKE money out of CT games...

 

[DanOz]

What super stadium?

Proposed at Liverpool. Only a proposal at this stage - nothing concrete at all

 

[DanOz]

Even if Wests buy out the Balmain half of the JV, the club will still be the Wests Tigers

Yes. Wests have CLEARLY stated they will NOT revert back to the Magpies.

 

[DanOz]

Ive lost track of this a bit....

Do Wests Campbeltown still own part of the club, or is it Wests Ashfield now??

Wests Campbelltown are still heavily involved in funding junior footy. They took a back seat to the first grade team due to all the infighting etc from the old Balmain v Magpie boards.

Once March 31st comes around, Wests get first option to but out Balmain. It will be interesting to see if Wests Campbelltown get back on board at this point.

 

[DanOz]

Really??

Its interesting that they are still pushing games down in Campbeltown then, given literally any other Sydney stadium would be closer.

I mean, i cant imagine they MAKE money out of CT games...

Wests Campbelltown are still involved in junior footy. Keeping Wests relevant to the area by having games out of Campbelltown would also be encouraged by the NRL. They don't make much money out of playing there, and can even play at a loss. The same as Leichhardt.

 

[Old Time Tiger]

Gee after the Robbie Farah announcement, Harry might now say stuff this mob.