Man_of_Steel_1982
Juniors
- Messages
- 1,186
Jabs, there's a reason why St.George joined with Illawarra... because it benefits them as well.
Sure, the Steelers Club are the smaller financial contributor of the two shareholders, but the Illawarra doesn't just provide access to a rich player nursery. It also provides extra Corporate backing that St.George wouldn't be able to get without Illawarra with them.
And as for the loan, it is to be paid back (with small interest). If the club goes belly up and can't operate, St.George can aquire it and sell it to get their money back. While that is highly unlikely, the loan will strengthen the club (through renovations) and increase it's revenue resulting in the Steelers contributing more money to the Joint Venture and lighten the load on St.George Leagues.
The end result is St.George can't lose. Anyone with any business sense can see that. Don't talk rubbish and make out that St.George are actually worse off since the merger. They took part because of huge benefits for them.
Sure, the Steelers Club are the smaller financial contributor of the two shareholders, but the Illawarra doesn't just provide access to a rich player nursery. It also provides extra Corporate backing that St.George wouldn't be able to get without Illawarra with them.
And as for the loan, it is to be paid back (with small interest). If the club goes belly up and can't operate, St.George can aquire it and sell it to get their money back. While that is highly unlikely, the loan will strengthen the club (through renovations) and increase it's revenue resulting in the Steelers contributing more money to the Joint Venture and lighten the load on St.George Leagues.
The end result is St.George can't lose. Anyone with any business sense can see that. Don't talk rubbish and make out that St.George are actually worse off since the merger. They took part because of huge benefits for them.