Doust Retires at end of 2018 season

[blacksafake]

He's the current Chief Operating Officer, and has been for years and years. Possibly a decade almost? He's a mini Doust in several ways and is, for this reason, a scary choice for the CEO job.

He has a similar penchant for corporate jargon-speak, he has been known to make ludicrous promises that turn out to be total falsehoods (as part of his defence of the Right Game Right Venue fiasco he is quoted as "projecting" the clubs Red V membership would rise to 40,000 in 5 years time - that was in 2013). In addition to this, as COO, essentially the day-to-day running of the joint is under his remit, and it has been ... not good, to put it lightly. Essentially the ongoing business of keeping the joint running falls to him, and we haven't exactly flourished in that area - needing NRL loans, cash incentives from ANZ Stadium and the like just to keep the lights on.

Thanks for that sounds very scary & dare i say it worse than Doust.

 

[Carlton]

The Dragons Board do not own the Club and is not held accountable for loss in profit or loss in income. Poor results do not come out of their salaries/directors fees.

Whereas a new private owner will be very interested in ensuring our Club is successful on-field and profitable off-field. All we need is a new owner and a big broom.

You have hit on one of the problems with private ownership, the club is not just a profit centre to the fans, it is part of their lives. I am all for running the club in a businesslike manner with sound governance but it doesn't have to be privately owned for this to happen. A fair constitution which actually addresses the members/fans goals and effective mechanisms to change non performing board and management is key. What St George has is a constitution that has effectively limited any recourse for the members/fans. I include fans with members as fans who are concerned should be able to become members with the ability to voice how they feel in a reasonable time frame.

 

[Old Timer]

Are you suggesting I believe it only happens in our club?

No but Possm seems to think that it only

You have hit on one of the problems with private ownership, the club is not just a profit centre to the fans, it is part of their lives. I am all for running the club in a businesslike manner with sound governance but it doesn't have to be privately owned for this to happen. A fair constitution which actually addresses the members/fans goals and effective mechanisms to change non performing board and management is key. What St George has is a constitution that has effectively limited any recourse for the members/fans. I include fans with members as fans who are concerned should be able to become members with the ability to voice how they feel in a reasonable time frame.

Well said.
The members have been locked out and that is a tragedy and just reinforces the idea of nepotism in the board room.
Constitutions are supposed to enshrine the rights of the many and not to protect the interests of the few and ours is definitely the wrong way round.

 

[getsmarty]

Clubs warned: Shape up or risk extinction
Author
Michael Chammas Chief Reporter
Timestamp
Thu 8 Feb 2018, 09:00 PM

The NRL has announced it expects a $37.5 million surplus over the next five-year $1.8 billion broadcast cycle, but CEO Todd Greenberg has warned clubs the governing body is no longer in a position to bail them out should they struggle financially.

The NRL, which on Thursday confirmed a $3.7 million shortfall for 2017, will significantly boost club funding over the 2018-2022 period after protracted negotiations last year.

As a result of the increased funding to the clubs, the NRL is now no longer in a position to aid cash-stricken clubs like they have recently done with the Newcastle Knights and the Gold Coast Titans.

“It won’t happen, and the reason it won’t happen is because it can’t happen,” NRL chief executive Todd Greenberg said when asked about the potential of the governing body helping keep clubs afloat.

“Because we don’t have money put aside to prop a club up … If you look at the numbers, what the numbers tell you is that they’ve now got enough money to sustain themselves. So if they run smart, effective and efficient business models, we should have 16 strong clubs.

“But that’s now in the hands of clubs to run their businesses smartly with good people and good governance to turn them into good clubs. They’re now being funded from the centre better than ever before so they have their best shot.”

The NRL announced an average $10.5m surplus throughout each of the past five years in the 2013-2017 broadcast rights cycle. In the first two years there was a $66.1m surplus alone, however the past three years there has been a combined $14.4m shortfall.

The governing body originally budgeted for a $20m shortfall in 2017 alone, however a range of cost-cutting measures over the past 12 months meant that was limited to just $3.7m.

It was always expected the final years of the broadcast cycle would be in contrast with the opening couple of years, a pattern the code envisages continuing in the 2018-2022 cycle.

The NRL believes it will experience a $40m surplus in 2018. It is considerably less than the $45.3m surplus from the opening year (2013) of the last broadcast cycle despite a $700m increase in broadcast revenue this time around.

That is because of the large investment the NRL will make in providing clubs with increased funding to sustain and manage its own operation.

However, the NRL has set up a distressed clubs fund to help prop up teams on the brink of extinction.

The 2017 Gold Coast Titans. NRL Photos
That fund will be made up of a combined $3m each year split between all 16 clubs, and will be distributed equally back to the clubs at the end of the broadcast rights cycle should it remain untouched.

“So when we pay out to all the clubs, they’re going to pay back an amount each on an annual basis and it goes back into a fund,” Greenberg said.

“That’s their insurance fund, if you like. It’s a distressed club fund, so if one of them falls over, they can apply to that fund to help them. We won’t be helping them because we don’t have money in the centre to club the props up again. It will be a very different conversation next time around if a club gets into financial trouble. And that’s been well communicated.”

What is the expected NRL revenue in 2018?

“We’ll break a half a billion dollars in revenue this year. What that tells you is the game is heading in the right direction,” Greenberg said.

What is the estimated surplus in the next broadcast cycle?

The NRL has estimated an average $7.5 million surplus each year ($37.5 million combined). “We’re trying to plan for a small surplus every year, or to at least break even at the outer years,” Greenberg said.

The 2017 Newcastle Knights finished with the wooden spoon. NRL Photos
What largely contributed to the $3.7 million shortfall in 2017 compared to the $2.6 million shortfall in 2016?

The major factor was an additional $2.7 million spent on clubs, states and development compared to the corresponding period 12 months prior.

How has the non-broadcast revenue tracked over the past broadcast rights cycle?

It has increased from $99 million in 2013 to $147.9 million in 2017. Greenberg said it is expected next season the NRL will surpass the $150 million mark for the first time in the game’s history.

What financial position is the NRL in as it approaches a new broadcast cycle?

“When I hear certain headlines and media commentary about the game is broke, it couldn’t be further from the truth.”

How much does the game invest in its football operations?

The NRL spent $20.1 million in 2017. That has increased significantly from 2013 ($9.6 million). It has spiked significantly over the past couple of years as a result of the investment in the bunker, concussion protocols, statistics and referees.

How much does the game spend on the integrity unit and salary cap auditing?

In 2012 only two salary cap auditors comprised of the $500,000 investment in the game’s integrity. That has increased to $3.7 million in 2017. The integrity unit now comprises of 17 staff members.


https://www.nrl.com/news/2018/02/08...xtinction-if-they-mismanage-financial-grants/

 

[getsmarty]

2018 CEO Business Update
Author
Dragons.com.au dragons.com.au
Timestamp
Fri 9 Feb 2018, 03:30 PM

By Peter Doust - St George Illawarra Dragons Chief Executive

As we head into the 2018 season, I thought it timely to provide members and partners with an update on some key strategic matters and business priorities.

Governance

High-level talks are ongoing with WIN Television and other interested parties in relation to the sale of the Steelers' 50 per cent shareholding in the St George Illawarra Dragons which the board and management are looking to finalise during 2018.

Whilst it is acknowledged that the discussions and negotiations have taken some time, it is a reflection of the enormity and complexity of the decision that will shape the future of the business and brand.

As such, the decision and detail needs to be absolutely right to ensure that the history, heritage and values of the club are maintained and further details will be provided when and where appropriate, within the 'commercially in confidence' parameters.

Dragons board

Following the retirement of Bob Millward from the Dragons board in October 2017, the Steelers nomination, and new addition to the Dragons board is John Brannon.

John was previously the General Manager/CEO of Port Kembla Coal Terminal and is a company director and chairman who works across government, commercial and not for profit boards in industries such as finance, mining, tourism, education and sports administration.

CEO transition

It has already been communicated that I have decided that this season will be my last at the Dragons. I will retire at the end of the year.

The St George Illawarra Board of Directors, led by Chairman Brian Johnston, will actively recruit for a new CEO in the coming months.

I have, and will continue to thoroughly enjoy my time in the role, and am very proud to represent the Dragons as CEO. This is a lifestyle decision that will provide me with the time and opportunity to pursue other interests.

Club sustainability

Club sustainability continues to be a key priority for the NRL, particularly as in 2017 when only one club made a profit.

This year marks the first year of the new five-year broadcast funding cycle and new club license agreements that will cover the cost of the football salary cap for the first time ever.

Our commercial loan from the NRL was set-up to provide "working capital" from 2013-2018 and the repayment is factored into our business planning strategies as required.

Noting however, that the Dragons are not the only club who have individual finance arrangements with the NRL or other stakeholders.

Membership

Over 19,100 Red V Members joined our program in 2017 – up from 17,884 in 2016. As at the beginning of February 2018, revenue from Red V Membership is up 17 per cent on the same period last year and is on track for another year of growth.

Thank you to all our loyal Red V Members for joining our team for 2018.

Corporate partnerships

Sponsorship is on track to deliver a record revenue return in 2018 and will achieve double digit growth. We are delighted to extend our relationship with St.George Bank into almost 40 years and we are in the process of finalising all sponsor apparel assets that will see our kit as one of the most valuable in the NRL. Special mention and welcome to new partners XBlades and Westfund Health Insurance.

Women's licence bid

Late last year the NRL announced plans to establish an NRL elite women’s competition in 2018. The inaugural competition is planned to run over a six-week period through August and September in conjunction with the final two rounds of the Telstra Premiership and four weeks of the finals series.

The NRL has indicated that there will be only six licences available initially for a five-year period and as a club, we are presently in the process of developing our submission to be included in this competition.

We have a strong history and association with the development of women's rugby league across our region, particularly in the Illawarra, where we established pathways and competitions in 2001. In fact, the first women’s rugby league game in our region was played in 1991, the Wollongong Wildcats v Dapto Daredevils.

Submissions are due mid this month with the NRL to confirm franchises to clubs in March 2018. The NRL have already stated that geography, location, resources, pathways and programs will be key assessment criteria.

Dragons Ambassadors and Jillaroos stars Kezie Apps and Sam Bremner are actively involved and supporting us in the development of our submission.

Centre of Excellence

We are actively continuing to pursue opportunities to develop a world class training, administration and community facility for the Dragons as a key strategic objective for the organisation. We have been working closely with specific partners on a planning process over the last 12 months and our plans are well advanced.

In regard to the New South Wales State Government's recent investment into the development of certain Centres of Excellence facilities across multiple clubs, our discussions with government representatives it became apparent that this investment fund would not have provided the Dragons with sufficient capital to develop the quality facility we require and have planned, which is why we have been pursuing alternate options. We hope to be in a position to make these plans public in 2018.

It should also be noted that the Dragons were successful in receiving $60 million in government funding over recent years for our WIN Stadium and Jubilee Oval facilities.

Graeme Langlands Public Tribute

As announced on January 30, we plan to hold a public tribute to Immortal Graeme Langlands ahead of our Round 1 match against the Brisbane Broncos at Jubilee Oval on Thursday, March 8.

The exact details are still being finalised in conjunction with Graeme's family and the NRL, but Red V Members and fans can expect an event similar to what was held for Reg Gasnier ahead of the NRL match against the Newcastle Knights at Kogarah on Sunday, August 2, 2014.

Details will be provided once finalised closer to the event, but we would encourage all Dragons fans to attend this special event.

For those without Red V Membership seats at Kogarah, the NRL is due to release tickets for Round 1 to club members on Monday, February 12 and the general public on Tuesday, February 13.

Overall, 2018 is shaping up to be an exciting year both on and off the field.

Go the Dragons!

Peter Doust
CEO


https://www.dragons.com.au/news/2018/02/09/2018-ceo-business-update/

 

[BennyV]

Clubs warned: Shape up or risk extinction
Author
Michael Chammas Chief Reporter
Timestamp
Thu 8 Feb 2018, 09:00 PM

The NRL has announced it expects a $37.5 million surplus over the next five-year $1.8 billion broadcast cycle, but CEO Todd Greenberg has warned clubs the governing body is no longer in a position to bail them out should they struggle financially.

The NRL, which on Thursday confirmed a $3.7 million shortfall for 2017, will significantly boost club funding over the 2018-2022 period after protracted negotiations last year.

As a result of the increased funding to the clubs, the NRL is now no longer in a position to aid cash-stricken clubs like they have recently done with the Newcastle Knights and the Gold Coast Titans.

“It won’t happen, and the reason it won’t happen is because it can’t happen,” NRL chief executive Todd Greenberg said when asked about the potential of the governing body helping keep clubs afloat.

“Because we don’t have money put aside to prop a club up … If you look at the numbers, what the numbers tell you is that they’ve now got enough money to sustain themselves. So if they run smart, effective and efficient business models, we should have 16 strong clubs.

“But that’s now in the hands of clubs to run their businesses smartly with good people and good governance to turn them into good clubs. They’re now being funded from the centre better than ever before so they have their best shot.”

The NRL announced an average $10.5m surplus throughout each of the past five years in the 2013-2017 broadcast rights cycle. In the first two years there was a $66.1m surplus alone, however the past three years there has been a combined $14.4m shortfall.

The governing body originally budgeted for a $20m shortfall in 2017 alone, however a range of cost-cutting measures over the past 12 months meant that was limited to just $3.7m.

It was always expected the final years of the broadcast cycle would be in contrast with the opening couple of years, a pattern the code envisages continuing in the 2018-2022 cycle.

The NRL believes it will experience a $40m surplus in 2018. It is considerably less than the $45.3m surplus from the opening year (2013) of the last broadcast cycle despite a $700m increase in broadcast revenue this time around.

That is because of the large investment the NRL will make in providing clubs with increased funding to sustain and manage its own operation.

However, the NRL has set up a distressed clubs fund to help prop up teams on the brink of extinction.

The 2017 Gold Coast Titans. NRL Photos
That fund will be made up of a combined $3m each year split between all 16 clubs, and will be distributed equally back to the clubs at the end of the broadcast rights cycle should it remain untouched.

“So when we pay out to all the clubs, they’re going to pay back an amount each on an annual basis and it goes back into a fund,” Greenberg said.

“That’s their insurance fund, if you like. It’s a distressed club fund, so if one of them falls over, they can apply to that fund to help them. We won’t be helping them because we don’t have money in the centre to club the props up again. It will be a very different conversation next time around if a club gets into financial trouble. And that’s been well communicated.”

What is the expected NRL revenue in 2018?

“We’ll break a half a billion dollars in revenue this year. What that tells you is the game is heading in the right direction,” Greenberg said.

What is the estimated surplus in the next broadcast cycle?

The NRL has estimated an average $7.5 million surplus each year ($37.5 million combined). “We’re trying to plan for a small surplus every year, or to at least break even at the outer years,” Greenberg said.

The 2017 Newcastle Knights finished with the wooden spoon. NRL Photos
What largely contributed to the $3.7 million shortfall in 2017 compared to the $2.6 million shortfall in 2016?

The major factor was an additional $2.7 million spent on clubs, states and development compared to the corresponding period 12 months prior.

How has the non-broadcast revenue tracked over the past broadcast rights cycle?

It has increased from $99 million in 2013 to $147.9 million in 2017. Greenberg said it is expected next season the NRL will surpass the $150 million mark for the first time in the game’s history.

What financial position is the NRL in as it approaches a new broadcast cycle?

“When I hear certain headlines and media commentary about the game is broke, it couldn’t be further from the truth.”

How much does the game invest in its football operations?

The NRL spent $20.1 million in 2017. That has increased significantly from 2013 ($9.6 million). It has spiked significantly over the past couple of years as a result of the investment in the bunker, concussion protocols, statistics and referees.

How much does the game spend on the integrity unit and salary cap auditing?

In 2012 only two salary cap auditors comprised of the $500,000 investment in the game’s integrity. That has increased to $3.7 million in 2017. The integrity unit now comprises of 17 staff members.


https://www.nrl.com/news/2018/02/08...xtinction-if-they-mismanage-financial-grants/

This explains Dosts's retirement!!!

 

[Old Kogarah Boy 1]

The Dragons Board do not own the Club and is not held accountable for loss in profit or loss in income. Poor results do not come out of their salaries/directors fees.

Whereas a new private owner will be very interested in ensuring our Club is successful on-field and profitable off-field. All we need is a new owner and a big broom.

...........and the right mindset to running the club.

I've seen Premier Clubs in English football slide by the wayside with poor inexperience owners who lack not only the required finance but vision.

Keep in mind that some may want the glory of owning the Dragons without the commitment and dedication.

Were not here to be a trophy wife for some wally with a few bob.

Privatization could equally be good or bad .............. hopefully good for the club.

 

[Seoul Dragon]

...........and the right mindset to running the club.

I've seen Premier Clubs in English football slide by the wayside with poor inexperience owners who lack not only the required finance but vision.

Keep in mind that some may want the glory of owning the Dragons without the commitment and dedication.

Were not here to be a trophy wife for some wally with a few bob.

Privatization could equally good or bad .............. hopefully good for the club.

Still laughing......but oh so true OKB1.

 

[Saints Forever]

High-level talks are ongoing with WIN Television and other interested parties in relation to the sale of the Steelers' 50 per cent shareholding in the St George Illawarra Dragons which the board and management are looking to finalise during 2018.

SOURCE / URL LINK: https://www.dragons.com.au/news/2018/02/09/2018-ceo-business-update/

Could it be that we now have a second suitor interested in buying in to JV ?

If we do, the Gordon family will need to crap or get off the pot !

Hope its true, as we need to change the culture of the JV from the top down.

The Gordon family is already involved at board level and hence I see no real benefit in WIN being the Buyer as Gordon junior seems to be part of the status quo

We want a passionate professional partner with deep pockets and great business acumen.

2018 is going to be a very interesting year.

 

[TomRedVRiver]

High-level talks are ongoing with WIN Television and other interested parties in relation to the sale of the Steelers' 50 per cent shareholding in the St George Illawarra Dragons which the board and management are looking to finalise during 2018.

Could it be that we now have a second suitor interested in buying in to JV ?

If we do, the Gordon family will need to crap or get off the pot !

Hope its true, as we need to change the culture of the JV from the top down.

The Gordon family is already involved at board level and hence I see no real benefit in WIN being the Buyer as Gordon junior seems to be part of the status quo

We want a passionate professional partner with deep pockets and great business acumen.

2018 is going to be a very interesting year.

We're not going to get a buyer with deeper pockets than Gordon. The man makes Politis look like a Maccas shift-worker, and we know how successful the Roosters have been under his watch, particularly recruitment. WIN is our best hope for a buyer, but I agree that we need to rustle some jimmies on the board.

One thing that did stick with me though is that Doust is adamant on ensuring the culture of the Dragons isn't jeopardised. This is good and bad. Bad because that risks the continuation of the status quo, but good because we don't want a Hasler/Bulldogs situation happening when the place completely lost its identity.

 

[KiamaSaint]

2018 is going to be a very interesting year.

Or the death of the Dragons

 

[muzby]

Could it be that we now have a second suitor interested in buying in to JV ?

.

I was trying to keep it under wraps, but now that it’s out if you guys could head over to my gofundme page i’d be very grateful..

 

[Saint_JimmyG]

High-level talks are ongoing with WIN Television and other interested parties in relation to the sale of the Steelers' 50 per cent shareholding in the St George Illawarra Dragons which the board and management are looking to finalise during 2018.

SOURCE / URL LINK: https://www.dragons.com.au/news/2018/02/09/2018-ceo-business-update/

Could it be that we now have a second suitor interested in buying in to JV ?

If we do, the Gordon family will need to crap or get off the pot !

Hope its true, as we need to change the culture of the JV from the top down.

The Gordon family is already involved at board level and hence I see no real benefit in WIN being the Buyer as Gordon junior seems to be part of the status quo

We want a passionate professional partner with deep pockets and great business acumen.

2018 is going to be a very interesting year.

The second 'interested' party is The Sheik; y'know, the bloke from someone in the UAE who hasn't seen a game of rugby league in his life?

This doesn't matter though as it was reported in the Daily Telegraph, and since when does its publisher, News Limited, EVER lie to its readers?

 

[possm]

A partial sell-off to Gordon won't do the trick. All that would achieve is the elimination of the 6m dollar debt to the NRL. A 100% take over by Gordon may also be a big problem as I feel he would want to shift the whole operation to the Gong.

We need a buyer who has deep pockets, who buys 100% of the operation and who interested in lifting the Club's off-field and on-field performance to the top of the NRL tree. Question is, is there such a buyer currently engaged with the Board.

It is my belief that now tha Doust has announced his retirement, there is a greater possibility that such a buyer might raise his hand.

 

[hazzbeen]

We need someone shifty like Nick Politis , love him or hate him they get who they want ......

 

[Carlton]

A partial sell-off to Gordon won't do the trick. All that would achieve is the elimination of the 6m dollar debt to the NRL. A 100% take over by Gordon may also be a big problem as I feel he would want to shift the whole operation to the Gong.

We need a buyer who has deep pockets, who buys 100% of the operation and who interested in lifting the Club's off-field and on-field performance to the top of the NRL tree. Question is, is there such a buyer currently engaged with the Board.

It is my belief that now tha Doust has announced his retirement, there is a greater possibility that such a buyer might raise his hand.

I cant make an informed decision as no detail has been provided and in fact has been hidden behind the excuse of confidentiality. If any ownership change is being contemplated the stakeholders wishes should be taken into consideration, how can this happen if the deal is negotiated without their input?

If the Illawarra part of the JV is sold this may simply mean that the loan Gordon has extended will be forgiven and in return he owns Illawarra (no gain for St George). If he throws in money that would help but then the conditions of how the JV will work going forward and is their any restrictions placed on the NRL licence by the operation of the JV or the NRL become an issue.

The fact the talk is about Illawarra makes me think there is no other buyer but Gordon seriously in the picture. Why would the sheik or anyone else buy the Illawarra half of the JV? Why would Gordon come along after all this time and buy the Illawarra half? What would the NRL gain from this? Could the end game be Illawarra is the dominant player with the club effectively moved to the Illawarra? What would happen to St George? The St George area would not make sense if you are trying to rationalise clubs. Split it up amongst its neighbours?

I am not for or against private ownership but we had better be vigilant or change may happen that cannot be reversed and destroys St George.

 

[possm]

I'm sure the NRL has there eyes on the St George junior territory. If a move to the Gong results out of a take-over, clubs like Cronulla, Canterbury, South Sydney and possibly the Rooster will all benefit from a carve up of our Sydney junior territory.

The whole of the joint venture needs to be sold to a single buyer for such a thing to be avoided. A good business entity would develop both leagues clubs to a much higher standard with the aim of providing SGI football club with much needed funds. This with a complete cleanout of management would I believe, put us on the path to greatness again.

 

[Dragonslayer]

There are definitely some intetesting statements made under the Governance heading.
Firstly, the sale is only of the Illawarra 50% share in the joint venture.
Secondly, the intetested parties are WIN television and others.
Thirdly, how the sale will effect the business and BRAND.
Lastly, maintaining the heritage, history and values.
So my take is;
1. WIN television (as associated with Bruce Gordon) will buy all or X amount of the 50%, not necessarily erasing our debt to the NRL (this is explained further down under Club Sustainability) but more so providing capital to the business. What would WIN get in return would be advertising. Same applies to who any other parties may be.
2. There is at least reference to the importance of maintaining our Brand (StG) and along with that our history and heritage. This is one of the most important aspects of the sale if we are to remain in the NRL and remain relevant.
I think these are the 2 most important take aways from this but intetesting times ahead for sure.

 

[getsmarty]

High-level talks are ongoing with WIN Television and other interested parties in relation to the sale of the Steelers' 50 per cent shareholding in the St George Illawarra Dragons which the board and management are looking to finalise during 2018.

SOURCE / URL LINK: https://www.dragons.com.au/news/2018/02/09/2018-ceo-business-update/

Could it be that we now have a second suitor interested in buying in to JV ?

If we do, the Gordon family will need to crap or get off the pot !

Hope its true, as we need to change the culture of the JV from the top down.

The Gordon family is already involved at board level and hence I see no real benefit in WIN being the Buyer as Gordon junior seems to be part of the status quo

We want a passionate professional partner with deep pockets and great business acumen.

2018 is going to be a very interesting year.

Already posted under he other Doust link............

http://forums.leagueunlimited.com/threads/doust-retires-at-end-of-2018-season.468270/page-12

Thanks Mods for merging these into 1 thread.

 

[Carlton]

There are definitely some intetesting statements made under the Governance heading.
Firstly, the sale is only of the Illawarra 50% share in the joint venture.
Secondly, the intetested parties are WIN television and others.
Thirdly, how the sale will effect the business and BRAND.
Lastly, maintaining the heritage, history and values.
So my take is;
1. WIN television (as associated with Bruce Gordon) will buy all or X amount of the 50%, not necessarily erasing our debt to the NRL (this is explained further down under Club Sustainability) but more so providing capital to the business. What would WIN get in return would be advertising. Same applies to who any other parties may be.
2. There is at least reference to the importance of maintaining our Brand (StG) and along with that our history and heritage. This is one of the most important aspects of the sale if we are to remain in the NRL and remain relevant.
I think these are the 2 most important take aways from this but intetesting times ahead for sure.

Be careful reading too much into what is in this statement, Doust is good at the spin and he is telling the St George fans what they want to hear without making any real definitive statements. Also the statement that WIN (specifically named) and others (unnamed) are looking at the club tends to indicate that there is only one real suitor at the moment. The statement doesn't say what WIN will be paying and whether its forgiveness of loan/cash or advertising.

There is no statement about whether the debt to the NRL will be repaid, there are vague statements that the loan was for the period 2013 to 2018 and its repayment is factored into the business strategies as required (funny terminology used here) blah blah blah.

Overall Dousts statement was like every other one he has made, sounds good and tells you what you want to hear but makes no promises and doesn't explain how all these good thing are actually going to happen. Its another trust me statement I know what I'm doing. I think we've had enough of these sorts of statements and its time that details are provided. Stop treating the fans like fools and honestly tell them what is planned for the club.