Ulysseus
Bench
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Illawarra had substantial debt prior to shacking up with Saints.
This debt was not assumed by Saints.
As is the case with a full on combining of companies, the debt would have become a shared debt under the one entirely new entity.
As is stands, WIN television bought a stake in Illawarra relieving of much of their debt issues, on the proviso that only the Illawarra side could buy back that half of their club.
On the reasons the BHP take over of Rio fell down was the debt that would have been to large for BHP to effectively manage after paying out an exorbidant amount for the Rio shares.
In comparison to this, the two sides were going to form a joint venture in WA, which would have still left each side as separate companies in their own right with their own offices etc.
To my knowledge, Illawarra still have their own offices do they not?
Saints still have their own offices do they not?
This debt was not assumed by Saints.
As is the case with a full on combining of companies, the debt would have become a shared debt under the one entirely new entity.
As is stands, WIN television bought a stake in Illawarra relieving of much of their debt issues, on the proviso that only the Illawarra side could buy back that half of their club.
On the reasons the BHP take over of Rio fell down was the debt that would have been to large for BHP to effectively manage after paying out an exorbidant amount for the Rio shares.
In comparison to this, the two sides were going to form a joint venture in WA, which would have still left each side as separate companies in their own right with their own offices etc.
To my knowledge, Illawarra still have their own offices do they not?
Saints still have their own offices do they not?