In the distant past there were years when the Saints did most things well and achieved beyond what other clubs could only dream of; we were the envy of all rugby league clubs.
Most fans and supporters know that our great achievement of 11 consecutive premierships was mainly due to sensible, clever, and unselfish management within the club.
In more recent times there has been a stench of selfish, inept, and maybe even corrupt, people running our great club; the results are there for all to see;
Poor management
Jobs for the boys (who never had the skills to do things properly)
A mentality of medureoccracy
No real plan to address the current problem
No future plans that give fans and supporters faith and hope.
In my opinion, there are a few things that would help our club dig itself out of this MESS:
1. Sell up to 30% of the St George Illawarra Football Club shares to Red V Members by including a set number of shares in the membership fee. These shares to be retained while the owner is a current Red V Member (a maximum individual allocation to apply).
2. Sell a further 10% of shares to St George Leagues Club Members and Illawarra Leagues Club Members (a maximum individual allocation to apply).
3. Sell a further 10% of shares on the public.
4. The current owners to retain 25% each of the shares.
5. Set an initial, total share value at 20m
6. Use the funds raised from this exercise to:
a. Improve player training facilities.
b. Further develop our Academy.
c. Recruit the very best coaching staff.
d. Hire the very best Club administrators.
c. Upgrade Leagues Club facilities at Kogarah and Wollongong.
This would set us on the journey to rescue our Club as only in this structure could we hold the Board of Management accountable to the Members. Not only could the Club raise about 10m, but it would also increase the number of shareholders with a financial interest in the well-being of our Club. Under this restructure, I am confident that decisions will be made in the best interest of the Club.
There are more questions than answer in this approach. What method is used to determine a valuation of 20m, or is this an arbitrary figure. Will shares be a dollar each? Current shareholders, especially majors, have to be satisfied as to actual value methodology. Will current owners be paid for their reduced share holding and how much ? Will the 30% shares alocatted to members, be costed into the offer price of membership or be gratis, if so 20m of share value now becomes 14m. If they are not to be free, current members will pay for them, with around 18000 members they would be asked to pay 330.00 on average per share. Being 6m divided by 18000 members, with an assumed price of 1.00 per share.
The notion of "best" with regard board appointments and senior executives is always a stated prerequisite, but highly subjective as to process, selection criteria and qualifications. Anthony Siebold, as an example, was touted as the "best" example of an educated and highly qualified coach, the way forward. Best as to facilities, remembering Penrith built their centre of excellence-now said to be a yardstick, for a cost of 10m, back then. Half of your 20m (or 14 m.) Little if any left over to redo the 2 clubs. Remembering J. Packer donated the 10m.
Appreciate your frustration over the years, but solutions to problems are a bringing together of many talents, skills, resources, intelect, planning and a large amount of patience and cooperation. Our success of the past is just that - the past, everything changes, look at the local demographic of the StGeorge district today comared to the 70,s and 60's as an example. Just my response, not a negative criticism of your solution.
