Peter V'landys - New NRL/ARLC Chairman

[ground zero]

Yep sharks losing money badly for decades partly due to owning shark park doesn't smack of good investment opportunity.
Be interesting what the NRL has bought from a club though. Usually no smoke without fire from the Mole.
A long term leasehold on the land the hotel the NRL have purchased at Shark Park makes the most sense for NRL and Sharks.
Cant see them wanting to offload the golf club and cant see NRL wanting to own shark park or the LC. That's the only assets they have.
May make sense re financial strife though, they bought a property in the town to set up a presence and shop but have ended up leasing it out, maybe to generate some extra cash flow? Though they made a $1mill surplus in 2023 they spent $9.5mill on assets so may have created a cash flow problem? Though again they have a decent chunk in the bank(around $19mill in cash reserves and investments)

Though owning your own ground has its advantages (especially if its decent) it can also seriously impact revenue generation if its not very fit for purpose and you dont have the funds to upgrade it.
Sharks for example in 2023 would have had some of the lowest game day related revenue in the comp:
Merch $1.9mill
Game day tickets $2.2mill
Memberships $2.2mill
Sponsorships and corporate game sales $6.5mill

all of those revenue areas are significantly impacted by playing at a small stadium with ltd corporate facilities.

Though how anyone can be having cash problems with the grants over $20mill lord only knows (if it is them, could just as easily be St's given they way they are run but again aside from the LC do St's have any assets?).

Yer the 19 million is for the leagues club fit out. So virtually the Sharks arnt real flushed with cash.

 

[Perth Red]

Yer the 19 million is for the leagues club fit out. So virtually the Sharks arnt real flushed with cash.

Hasnt the LC development started yet?

 

[Vlad59]

Hasnt the LC development started yet?

Nup

 

[Canard]

The NRL won't buy a ground to play games at. Besides finding the money to buy it up front, you then have the cost of upkeep, maintenance and evenbtualk refurbishments. Shark Park has been a financial drain on the Sharks for decades.

It wouldn't make sense, especially a tinpot stadium like Shark Park.

It would be hilarious to buy it, then sell it off and force the Sharks to play in a modern stadium elsewhere, though!

 

[Iamback]

It wouldn't make sense, especially a tinpot stadium like Shark Park.

It would be hilarious to buy it, then sell it off and force the Sharks to play in a modern stadium elsewhere, though!

On that same boat. IF the Sharks are struggling than wouldn't they move to Allianz?

I think people are reading too much into the Mole. Who has a lower strike rate than BM or Rhyno

 

[Wb1234]

It wouldn't make sense, especially a tinpot stadium like Shark Park.

It would be hilarious to buy it, then sell it off and force the Sharks to play in a modern stadium elsewhere, though!

When they spent around 30 million buying the hotel next doors whose value is tied to home games at shark park

Yeh genius !

 

[Canard]

When they spent around 30 million buying the hotel next doors whose value is tied to home games at shark park

Yeh genius !

There is no way an investment in hotels in Sydney would be tied to 9k coming to Shark Park.