Cronulla to Perth

[Perth Red]

Dragons leagues club worth 60 million. 22 million in bank. plus the Gordons own 50% multi millionaires. so the dragons are not struggling financially. all lies.

yeh strong asset base and LC puts in about $1mill a year to the NRL club out of around $3-4mill a year profit. I wonder why they sold 1/2 share couple of years ago rather than take back full ownership when Steelers LC could no longer contribute?

 

[RedVee]

yeh strong asset base and LC puts in about $1mill a year to the NRL club out of around $3-4mill a year profit. I wonder why they sold 1/2 share couple of years ago rather than take back full ownership when Steelers LC could no longer contribute?

Steelers owned the other 50% and sold to who they liked.
There was an article during the whole process that stated that St George offered to buy the other 50% (before WIN was finalised). The NRL stepped in to veto it as an option.

Edit. BTW the Steelers stopped financially contributing from Yr 2 of the JV. The 2 lower grade teams also merged in 2000 after 1 year of running separately as the Steelers couldn’t afford to put up a reserve grade team on their own.