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HERE IS THE NEWS

chileman

Coach
Messages
10,523
Announced on mightyeagles.com

INTRODUCTION BY MANLY SEA EAGLES CHAIRMAN JOE CROSS TO A PACKED MEDIA CONFERENCE AT MANLY LEAGUES AT 11 AM
Thank you for your attendance on a significant day in the history of the Manly Sea Eagles. The Board of the Manly Warringah Sea Eagles is going to its members with a trailblazing proposal to form a partnership between the Manly Warringah Leagues Club and Sports and Management company Penn Sport.


If accepted by 75 per cent of the members at the annual general meeting on December 18 it will mean an injection of $10 million over the next four years for the Sea Eagles.

The members of the Football Club will be notified by mail from today of the proposal.

The new proposal,unanimously endorsed by the Board, will change the ownership structure of the football club from limited liability to a proprietary company - jointly owned by the Manly Leagues Club and Penn Sport.

The Board is proud to be in a position to put such a fantastic opportunity to our members.

If accepted by the required number of members it will allow the club to thrive and fulfil its true potential.

We are fortunate to have two partners who are willing to invest in the long-term future of the Manly Sea Eagles and are absolutely, passionately committed to its success.

Of course the Manly Warringah Leagues Club has always been the pillar of support for the Sea Eagles and under the guidance and leadership of Ken Arthurson will continue to be a major driving force and obvious partner.

The chairman of Penn Sport,Scott Penn,is a lifetime Manly supporter and his organisation will bring a depth of experience in sponsorship and corporate management into the mix which will be of enormous advantage in moving the club forward.

I would also like to make special mention of Board member and major sponsor Max Delmege of Delmege Commercial. Without Max Delmege the Sea Eagles wouldn't be here today and his support and generosity is on going and he will continue to support the club with both his business accumen and outstanding sponsorship.


Again thank you for your attendance on what is going to be a busy 48 hours for all of you. Please feel free to ask any questions of the people on the main table and one on one interviews will be arranged for you at the end of the question time.
 

chileman

Coach
Messages
10,523
http://www.pennsport.com.au

Penn Sport is a Sports Marketing, Management and Entertainment Company created to bring a new perspective to the sports industry.

Penn Sport is an exciting and dynamic company that believes in winning both on and off the field. Penn Sport revolutionises the sports management area by providing business solutions, through a team of creative thinking experts who deliver results.

Penn Sport provides the total sports management solution. Marketing
Sponsorship
Branding
Website Development
Public Relations
Event Management
Management Strategy
 

rastus

Juniors
Messages
442
chileman said:
http://www.pennsport.com.au

Penn Sport is a Sports Marketing, Management and Entertainment Company created to bring a new perspective to the sports industry.

Penn Sport is an exciting and dynamic company that believes in winning both on and off the field. Penn Sport revolutionises the sports management area by providing business solutions, through a team of creative thinking experts who deliver results.

Penn Sport provides the total sports management solution. Marketing
Sponsorship
Branding
Website Development
Public Relations
Event Management
Management Strategy

Nothing like a bit of self-promotion in your own advertising blurb. But what does all this mean, are Penn now entitled to receive half of all gate takings, merchandise sales, sponsorship etc etc etc . Way way to many unanswered questions for my liking. Smacks of desperation - but time will tell.
 

t-ba

Post Whore
Messages
60,445
*Throws Up*

It does smack of desperation, yes. Unfortunately, I Imagine it is the way of the future for clubs who don't have the financial power to survive the Pokie tax. It's just a shame Manly had to be the first traditional club tro bite the bullet :cry: .
 

Briza

Juniors
Messages
1,615
Look at it this way guys, $14m garaunteed for the next 4 years.
5 each from the leagues club/ Penn - and Also the $900,000+ per season sponsorship by delmege commercial.
With Penn being a 50% owner of the sea Eagles, they along with the leagues Club are responsible for funding the football club Long Term, which leaves the football club to concentrate on what is important - FOOTBALL!!.

I believe Manly is now in the best shape it's been in since 96!!.
 

Briza

Juniors
Messages
1,615
are Penn now entitled to receive half of all gate takings, merchandise sales, sponsorship etc etc etc . Way way to many unanswered questions for my liking. Smacks of desperation - but time will tell.


[/quote]

Rastus, I believe as a long term partner all earnings will be put directly back through the football club untill such a time as the Manly club is a profitable one!!.
Remember it costs around $8-10M pear season to run a football club, so any moneys taken out will only have to be replaced.
 

doctor death

Juniors
Messages
364
Word is:
$5 million for 4 years from Penn (who?) - $1.25 million p.a.
$5 million from Arko/manly Leagues - $1 million p.a.
$900K p.a. from Delmege

Just over $3 million p.a. plus $2.5 million p.a. from NRL. It takes $10 million p.a. to run a club. Still leaves a huge deficit - over $4 million p.a.

BUT - Debts of over $2 million (at least) including ex-players (who manly refused to pay).

Manly have had over 5 years to put this together. Yet Singo has committed to funding the Central Coast Bears in full for 15-20 years.

Manly obviously have friends at the NRL/ARL.

Rugby league cannot survive if this sort of "jobs for the boys" crap.
 

chileman

Coach
Messages
10,523
:roll: Same old same old usual dribble from someone who thinks they know everything but don't know squat about supposed debts :roll:
 

doctor death

Juniors
Messages
364
Chileman

Easy to say - you know nothing.

But Manly's significant debt has been well known for a while.

Why not dispute it with some facts?
 

t-ba

Post Whore
Messages
60,445
You failed to answer a Raft of Questions Regarding NORTHS DEBTS a few Weeks ago, Unlike Manly's 'Debts', which we have no legal obligation pay (More a Moral one. We're now paying your half of the Joint Ventures Debts :roll: ).

Perhaps the ignore feature is in order Lads?
 

fish

Juniors
Messages
524
This guy is a laugh,I can almost hear the tears everytime he spews forth the shit singo( the saviour ) spoon feeds him.Your team is no longer so go away and play dead like your Not so mighty Bears have.
 

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