Is St George Illawarra Still A Joint Venture Club

[Lewish33]

Seeing that WIN is an Illawarra company, with Illawarra interests at heart, it's maybe just possible that WIN wish to keep it as it is, which I assume is their right to do so. Who knows, might even push for more illawarra equality

I guess this quote from Bruce Gordon gives an idea where WIN stand:

"WIN has long partnered with the Steelers to bring world class rugby league to the Illawarra and we want that legacy to continue."

 

[j0nesy]

Y’know, I attempted to ask the same question in another thread but was ‘dissed’ by Muzby ‘leading’ the way.

It’s a serious matter which relates to our club’s history.

Some clarity would be nice.

Personally, I don’t see how SGI can still operate under the guise of a JV if the one Illawarra Steelers’ Board member cannot exert any voting rights which are bereft of substance.

So what’s the question? Are you suggesting the name should be changed? If so then I presume any change of name would have to be put to the board. Which would require 5 or more to vote in favour of a different name. I doubt that would happen with 4 WIN appointed board members. Possible though.

 

[possm]

By selling all their shares to WIN, Illawarra has written themselves out of the joint venture. I would say that there no joint venture anymore. Just like South Sydney is not a joint venture even though they have an investor holding a significant share holding. When Tinkler took over Newcastle it was not a joint venture and the Manly club is not a joint venture.

In my mind the Club is now the St George Dragons and WIN are an investor holding 50% of the shares.

 

[Lewish33]

By selling all their shares to WIN, Illawarra has written themselves out of the joint venture. I would say that there no joint venture anymore. Just like South Sydney is not a joint venture even though they have an investor holding a significant share holding. When Tinkler took over Newcastle it was not a joint venture and the Manly club is not a joint venture.

In my mind the Club is now the St George Dragons and win are an investor holding 50% of the shares.

Good way to alienate a chunk of your fan base.

 

[Lewish33]

So what’s the question? Are you suggesting the name should be changed? If so then I presume any change of name would have to be put to the board. Which would require 5 or more to vote in favour of a different name. I doubt that would happen with 4 WIN appointed board members. Possible though.

Doesn't it have to be unanimous for changes to the name, colours and logo?

 

[j0nesy]

By selling all their shares to WIN, Illawarra has written themselves out of the joint venture. I would say that there no joint venture anymore. Just like South Sydney is not a joint venture even though they have an investor holding a significant share holding. When Tinkler took over Newcastle it was not a joint venture and the Manly club is not a joint venture.

In my mind the Club is now the St George Dragons and win are an investor holding 50% of the shares.

The Wollongong based Illawarra Leagues Club sold its share to the Wollongong based WIN Corporation. The club’s name has not been changed.

 

[j0nesy]

Doesn't it have to be unanimous for changes to the name, colours and logo?

Possibly, not sure

 

[Dennis Papaioannou]

By selling all their shares to WIN, Illawarra has written themselves out of the joint venture. I would say that there no joint venture anymore. Just like South Sydney is not a joint venture even though they have an investor holding a significant share holding. When Tinkler took over Newcastle it was not a joint venture and the Manly club is not a joint venture.

In my mind the Club is now the St George Dragons and win are an investor holding 50% of the shares.

Just a trivial question.
When did the club stop being the "Saints" and start being the "Dragons"
I will always regard our team as St. George and our moniker "The Saints"
The team song has no reference to dragons...
Call me sentimental

 

[possm]

Just a trivial question.
When did the club stop being the "Saints" and start being the "Dragons"
I will always regard our team as St. George and our moniker "The Saints"
The team song has no reference to dragons...
Call me sentimental

St George saved Illawarra by inviting them a lifeline. Illawarra could not pay their way and eventually sold their shares to WIN. WIN is now an investor and St George Leagues Club is the other investor. Illawarra took the cash and paid its debts. Illawarra no long hold any shares so are no longer an owner and so no longer have a say and so are no longer in the NRL..

 

[Saints of George]

Just a trivial question.
When did the club stop being the "Saints" and start being the "Dragons"
I will always regard our team as St. George and our moniker "The Saints"
The team song has no reference to dragons...
Call me sentimental

I'm with you on this one and oddly had this discussion with an older Gentlemen the other day.

Growing up (80's and 90's) I always remember the team just being known as St.George and Saint for short. I remember in Super League era the Dragons started to make an appearance but still we were always Saints.

I've always felt that post JV we landed on Dragons as a mascot to unite the team and fans under one banner.

I could be wrong but that's just my observation.

 

[muzby]

By selling all their shares to WIN, Illawarra has written themselves out of the joint venture. I would say that there no joint venture anymore. Just like South Sydney is not a joint venture even though they have an investor holding a significant share holding. When Tinkler took over Newcastle it was not a joint venture and the Manly club is not a joint venture.

In my mind the Club is now the St George Dragons and WIN are an investor holding 50% of the shares.

FMD.

We have two parties who own the NRL licence.

Souffs, Newcastle, Manly all have one party who owns the licence.

Suck it up, jersey up and cheer on our club.

 

[possm]

FMD.

We have two parties who own the NRL licence.

Souffs, Newcastle, Manly all have one party who owns the licence.

Suck it up, jersey up and cheer on our club.

Oh, I thought Many and North Sydney owned the licence until Norths dropped off or Many wanted out of the JV. Didn't Tinkler own the Newcastle licence and aren't Crow and Packer investors in the South Sydney Licence.

In the same way WIN are investors in the SGI licence and Illawarra have no ownership of the SGI licence.

Now if WIN would have purchased 25% of the St George shares and 25% of the Illawarra shares then yes Illawarra would have a stake in the SGI licence. In a nutshell, Illawarra received approximately 4m for their SGI shares and licence and as a result have no ownership at all of SGI.

 

[Bests Golden Boots]

Just a trivial question.
When did the club stop being the "Saints" and start being the "Dragons"
I will always regard our team as St. George and our moniker "The Saints"
The team song has no reference to dragons...
Call me sentimental

Dunno, must have been some time after the early 80s cause I still have my scarf and beanie that says “Saints” on them.

 

[muzby]

Oh, I thought Many and North Sydney owned the licence until Norths dropped off or Many wanted out of the JV. Didn't Tinkler own the Newcastle licence and aren't Crow and Packer investors in the South Sydney Licence.

In the same way WIN are investors in the SGI licence and Illawarra have no ownership of the SGI licence.

Now if WIN would have purchased 25% of the St George shares and 25% of the Illawarra shares then yes Illawarra would have a stake in the SGI licence. In a nutshell, Illawarra received approximately 4m for their SGI shares and licence and as a result have no ownership at all of SGI.

I’m getting the feeling you’re the type of person who’d buy magic beans..

 

[possm]

I’m getting the feeling you’re the type of person who’d buy magic beans..

I do not direct comment as to the members on this forum but rather speak about the subject of the thread. As a staff member you should no better.

 

[Lewish33]

Oh, I thought Many and North Sydney owned the licence until Norths dropped off or Many wanted out of the JV. Didn't Tinkler own the Newcastle licence and aren't Crow and Packer investors in the South Sydney Licence.

In the same way WIN are investors in the SGI licence and Illawarra have no ownership of the SGI licence.

Now if WIN would have purchased 25% of the St George shares and 25% of the Illawarra shares then yes Illawarra would have a stake in the SGI licence. In a nutshell, Illawarra received approximately 4m for their SGI shares and licence and as a result have no ownership at all of SGI.

But WIN bought the Illawarra share and as far as I can tell want to stay as the Illawarra advocate. What's so hard to understand?

 

[possm]

But WIN bought the Illawarra share and as far as I can tell want to stay as the Illawarra advocate. What's so hard to understand?

WIN are free to state their view as they wish however, they are a 50% owner and unlike Illawarra will be required to always act in the best interest of the SGI football club not advocate the employment security of Illawarra old boys.

 

[Frank Facer]

Just a trivial question.
When did the club stop being the "Saints" and start being the "Dragons"
I will always regard our team as St. George and our moniker "The Saints"
The team song has no reference to dragons...
Call me sentimental

When we merged they stopped calling us Saints.

 

[muzby]

WIN are free to state their view as they wish however, they are a 50% owner and unlike Illawarra will be required to always act in the best interest of the SGI football club not advocate the employment security of Illawarra old boys.

Hang on a second, by paying out the debt and keeping the club afloat, aren't the Illawarra faction now the dominant partner?

If anything, shouldn't they now be the Illawarra St George Steelers?

Does that mean the 15 premierships before the JV now belong to Illawarra too?

Bow down to your new overlords!

 

[Lewish33]

WIN are free to state their view as they wish however, they are a 50% owner and unlike Illawarra will be required to always act in the best interest of the SGI football club not advocate the employment security of Illawarra old boys.

One word, Doust