Financial position according to SMH

[Bastard Squad]

There is a reason why St.george bank will hang on to the debt for a while.

Good Will.

With the Westpac takeover the last thing they want to do is upset the apple cart and lose St.George customers who already waiting to see how things go.
They may not have lost many customers yet, but dumping a football team would be a big loss of good will.

 

[myanonymoususername]

There is a reason why St.george bank will hang on to the debt for a while.

Good Will.

With the Westpac takeover the last thing they want to do is upset the apple cart and lose St.George customers who already waiting to see how things go.
They may not have lost many customers yet, but dumping a football team would be a big loss of good will.

I think you vastly overestimate the general public's care factor about (a) football and (b) the Sharks specifically.

 

[Bereft Skerrick]

I don't think that St George Bank would be worried about goodwill lost regarding the Sharks. They ARE a bank who reduce interest rates along with economic pressures and are less disliked. And universally hated when the rates go back on the rise.

Plus they ARE the major sponsors of The Dragons. If the Dragons were in a similar situation and lost their backing then yes there would be a backlash. But the Sharks? No.

 

[SirShire]

There is a reason why St.george bank will hang on to the debt for a while.

Good Will.

With the Westpac takeover the last thing they want to do is upset the apple cart and lose St.George customers who already waiting to see how things go.
They may not have lost many customers yet, but dumping a football team would be a big loss of good will.

Agree with the others BS. Any other team, probably the case. Dragons, most certainly.

But Sharks? We get 7,000 to games. They release that they wouldn't exactly be putting the nail in the coffin of one of the darling clubs of sport.

 

[RUBIKS]

Okay finances and I.... :?

Can someone just tell me.... what the debt of the leagues club is and what the debt of the football club is.... Just one solid figure for each, if that's possible.

Thanks.

 

[spider]

its smoke and mirrors anyone rubiks - the debt is just shuffled over

consolidated it is $13.7m

broken down as per financial report

football - total liabilities $4.06m

leagues - total liabilities $9.68m


www.sharkies.com.au

 

[Quigs]

And just to digress here, how bad is the eels predicament.

And how does it compare to ours.

Reason I ask, is because I am hearing nothing up here in the northern outpost. Say the same for our Townsville comrades.

You hear farkk all on the news, beit radio or TV

Cheers
Declared Idiot #88
Quigs

 

[The Popper]

From what I've heard unofficially it's worse, Quigs. But we're the ones getting all the publicity. Possibly some chickens coming home to roost after the Gow knifing and the Bird bullshyt.

 

[RUBIKS]

its smoke and mirrors anyone rubiks - the debt is just shuffled over

consolidated it is $13.7m

broken down as per financial report

football - total liabilities $4.06m

leagues - total liabilities $9.68m

www.sharkies.com.au

Thanks Spider.

So in the grand scheme of things it's really not that much. My understanding is we just need to show the banks that we are not going to continue to be a bottomless pit and that we can turn a profit. I imagine if our doohicky* didn't expire this wouldn't be such an urgent issue.

*remember as stated above I'm no good at finances. Am I talking about margin calls and refinancing?

 

[The Popper]

Agree with the others BS. Any other team, probably the case. Dragons, most certainly.
But Sharks? We get 7,000 to games. They release that they wouldn't exactly be putting the nail in the coffin of one of the darling clubs of sport.

Sorta makes you wonder if there's some sorta 5th. Column at work doesn't it. Flies in the ointment regarding:
1. the bank
2. the development
3. the Bird issue
4. the Seymour issue
5. now the Johns issue
Is there a 5th. column? Is our administration unable to contain things? Or are we just bloody CURSED like my Saints supporting mate says we are?