Cash stapped Cronulla Sharks seek club merger

[Russell Crowe's Band]

free hat?

well. theyre part of teh local team i guess.

also..theres all that land they could use...were not doing much with it.

 

[Deacon]

Tradies are not keen at all that is fact

 

[Snoop Shark]

Tradies are not keen at all that is fact

Nobody said they were

 

[Deacon]

Yer unfortunate really because of their finances I can see the tradies coming in afterwards though

 

[Deacon]

Like wat was done with Caringbah Rsl, I can't believe Sharkies seriously considered getting involved with Caringbah Rsl 24 months ago considering their own financial state at the time

 

[Snoop Shark]

Deacon do u always answer to your own comments?

 

[bluey]

Please club just sort it out, i have been hearing this for 30 plus years time to fix it or do some thing about it.

 

[Deacon]

Deacon do u always answer to your own comments?

Double Post mate, so I put something into the second rather then getting the mods to delete it, so that answers you question smarty

 

[newman]

The leagues makes a profit of 1.5million per year. Its fine as a stand alone club, but the football club has leaned on it too heavily for too long and now there is very little to give back to the footy club. This is merely the exploration of a new strategy to make more money so that they can increase the grant to the footy club.

We are not gone.

 

[samshark]

We will be if a new strategy does not come to fruition.

I received the letter today and it is quite long winded, explaining the process and legal requirements under the Clubs Act requiring the club to formally advertise in order to just 'guage interest' for prospective club partners. etc. bit of fluff as well.

In regard to development of land holdings, several companies have looked at the development and further deficiencies have been highlighted (did Barry get anything right?) along with obvious economic problems to fund the thing. Club is waiting for a short list of companies with the proposals to come back. Members will then be informed.

As for the leagues club and possible amalgamation. In a nut shell what this letter is saying, is that the board is looking at ways to basically reduce its debt in order to use its cash flow to reinvest in the leagues club to make it a more attractive place to go to so it can make more money. Simple, yes.

And if a new strategic approach, joint venture perhaps in regard to the leagues club does not happen then the money the club makes will continue to be mainly used to pay off the clubs debt. Meaning that re.investment in the club itself by improving and upgrading its facilities to maintain and attract new patronage will not happen. And grants to the football club, junior league and NRL club will also simply not happen.

In turn you can then translate this as we either die a slow death or we basically just make up the numbers in the NRL by continuing to have the smallest turnover and staff numbers and struggle to spend our cap, which you would say would be a slow death anyway.

 

[Eion]

Well, well, well. Tradies.

http://www.smh.com.au/rugby-league/...h-club-a-winwin-for-shire-20101014-16luy.html
Sharks merger with club a win-win for Shire
Chris Barrett
October 15, 2010
CRONULLA is considering an amalgamation with the Sutherland Shire's most profitable licensed club, Tradies, in a landmark deal to secure the future of the NRL battlers.
Two other organisations have expressed interest in joining forces with Cronulla-Sutherland Leagues Club but Tradies, based at Gymea, and which last year took over the struggling Caringbah RSL Club, is believed to be the frontrunner if the Sharks board, and then their 18,000 members, vote for an amalgamation at an extraordinary general meeting tipped to be called before Christmas.
Tradies chief executive Tim McAleer said discussions had been held between Tradies president Graham Hill and Sharks chairman Damian Irvine about the potential link, and his entity was now examining Cronulla's assets and liabilities.

''We've agreed to dance but whether or not we're going home tonight is still up in the air,'' McAleer told the Herald. ''We've put our hand up at this point to do due diligence. What we've agreed is if we can be of assistance, and we don't know what that assistance might look like, we're prepared to look at it. We expect them to be very candid about their situation.''
Sharks officials declined to comment but it is understood they are also weighing up interest from four developers about becoming commercial partners in the long-proposed $110 million hotel and residential development next to Toyota Stadium. A development application was sought by the Sharks' previous administration, and has been approved by Sutherland Shire Council.
The board may decide to take the leagues club merger option to members or the development partnership, or both. An amalgamation would have to then be approved by Clubs NSW, who have been notified of Cronulla's intentions to possibly link with another licensed club.
McAleer said he expected Tradies' due diligence process to be completed in six weeks. A merger of Tradies and the Sharks - the Shire's two largest clubs - would be a significant change to the entertainment landscape in the area.
Tradies, which has more than 35,000 members, made $4.2 million last financial year. Cronulla's leagues club is back in the black as a cash business, club insiders say, but has a debt of about $12 million inherited from the former administration.
The restrictions on spending within the football club, instigated by the now departed chief executive Richard Fisk, will remain until a long-term solution, be it a leagues club merger or a development partnership, is found.
Cronulla has made only three noteworthy player signings for next year - Wade Graham from Penrith, Jeremy Smith from St George Illawarra and South Sydney's Colin Best.
McAleer said there were several reasons an official link-up with the Sharks made sense. ''They [Sharks] have an iconic brand, they've got a team that is very supported by the memberships of both clubs,'' he said.
''With their membership and brand, combined with ours and our financial strength, I think there is the potential for a very strong amalgamation.''

 

[Quigs]

The tradies ... ehhh.

Power to the workers.

Sidenote. Quigs was a member of the tradies around 1970-1, member #546. At the ripe old age of 16. One time there I got into strife off the Manager Billy Baker for continually signing in 13 -14 of my mates from the Gymea C Grade Team (Under 18's)on Sunday arvo's. We'd hit the piss and watch the concert, which were usually a ball.

His complaint was that I didn't get the blokes to join the club aka the Kremlin.

Cheers
Declared Idiot #88
Quigs

 

[ratsack2]

Is this Tim Macaleer tge same guy that used to be a teacher back in the 80s

 

[sharknows]

McAleer is bit of a tyrant but tradies runs like a well oiled machine. If this goes ahead it will be a takeover more than a merge. I'm not saying that is necessarily a bad thing btw.

 

[carcharias]

is G.hill the same dude from Aussie duct??

 

[Russell Crowe's Band]

interesting

seeing as the liberals were at sharkies yesterday spruiking their new pokie tax breaks.

if that comes in as well. hmm

as a pure business move this is good IMO.

 

[Generalzod]

interesting

seeing as the liberals were at sharkies yesterday spruiking their new pokie tax breaks.

if that comes in as well. hmm

as a pure business move this is good IMO.

There is no doubt that Graham Annesley will be the member for Miranda in the next state election for the liberals, We should utilise his skill as a former NRL employee....

 

[muzby]

as much as we have differences, i would hate for your club to fold.. putting so much passion into something, and then seeing it taken away really eats you up for a while..

some people will move on and follow the merged club..

but others will walk away from league completely.. and that is a win for no-one..

 

[Bastard Squad]

I wonder what assets would belong to the football club, and what would belong to the Leagues club ?

And I think in the Leagues club charter is a commitment to support the football club, I wonder if that will stay in a merger.

I'm not against the idea, just keen for detail.

 

[Russell Crowe's Band]

merge with who?

this is a leagues club merge to expand the business. seperate from the footy club.