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NRL2 Second Division

The Great Dane

First Grade
Messages
5,624
If my memory is correct, Cowboys were speaking about the need to upgrade their facilities to stay competitive with the other clubs. Clubs have state of the art facilities for fitness and training.
Yeah they were applying for $30mil in funding to build their high performance centre. The claims of potential financial ruin were highly sensationalist.

I don't have access to that specific article (who'd pay for that shit), but here are a couple links with detail on what happened-

https://statements.qld.gov.au/statements/92054
https://www.coliseum-online.com/cowboys-training-centre-beacon-of-hope/

TL/DR, Pippen is just being dishonest again.
 
Messages
6,006
Yeah they were applying for $30mil in funding to build their high performance centre. The claims of potential financial ruin were highly sensationalist.

I don't have access to that specific article (who'd pay for that shit), but here are a couple links with detail on what happened-

https://statements.qld.gov.au/statements/92054
https://www.coliseum-online.com/cowboys-training-centre-beacon-of-hope/

TL/DR, Pippen is just being dishonest again.
I hope the $20m loan we took out doesn't end up becoming a noose around our neck. The Titans were done in by their CoE shortly after the GFC.
 
Messages
6,006
Titans financial problems were in 2014 well after GFC
Their debt was tied to the CoE. The contracts for the CoE were draw up just before the GFC. Then the GFC hit and it forced them to spend more money than planned as the cost of labour and materials sky-rocketed and money from sponsors and attendances dried up as people were feeling the pinch. It hung around their neck like a noose for years, building up debt until Michael Searle was forced to admit the operation was bust.
 

siv

First Grade
Messages
5,618
Their debt was tied to the CoE. The contracts for the CoE were draw up just before the GFC. Then the GFC hit and it forced them to spend more money than planned as the cost of labour and materials sky-rocketed and money from sponsors and attendances dried up as people were feeling the pinch. It hung around their neck like a noose for years, building up debt until Michael Searle was forced to admit the operation was bust.
Just another example of a regional club falling over

Happens way too often
 

siv

First Grade
Messages
5,618
Like Cronulla a few years back?

St George?

Wests Tigers?

Souths before Holmes-a-Court and Crowe bailed them out?

I forgot, they're from Sydney.
Agree none of those clubs ever went into administration like the Warriors did twice or Gold Coast multiple times or Newcastle
 
Messages
6,006
Souths were never bailed out by the NRL, the members voted to be privatised

And are now one of the strongest clubs on all metrics
They were struggling to compete and needed to privatise to be where they are today. There's a reason they were given the boot in 1999.
 

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