Rumours and Stuff

[84 Baby]

Roosters chairman Nick Politis preparing $500m parting gift for his club

For the past 25 years, Roosters chairman Nick Politis has sat in the same seat — row N, bay 62, seat — at Allianz Stadium to watch his beloved team.

When the stadium is knocked down following next Friday’s Michael Buble concert, the SCG Trust will give Politis the seat as a souvenir.

It's a nice touch but a more pressing question is how much longer will Politis, 76, be sitting on the throne of the Roosters?

Will a grand final victory over the Storm on Sunday night prompt Politis to step back and hand over the chairmanship?

“No mate,” Politis said. “I haven’t thought about retirement”.


Then he let out his signature giggle.

“Can we just wait and see if we win first? One step at a time. But I won’t be retiring.”

Politis certainly understands, though, that he can’t run the club forever and is preparing for the future. His end-game is to deliver a property portfolio worth $500 million before he finishes.

He might have made his way in the world selling cars but much of his fortune can be attributed to property. He was last year ranked No.82 on The Australian Financial Review's Rich List with an estimated wealth of $773 million.

On his watch, the Roosters have snapped up Waverley Bowling Club, Berkeley Sports, Kingswood Sports Club and Woy Woy Leagues. They also plan to turn North Bondi Golf and Diggers Club into a multi-purpose sports centre.


The centrepiece is a redeveloped Easts Leagues in Bondi Junction. The club has snapped up most of the property on the L-shaped block on the corner of Spring Street and Bronte Road with a long-term plan to turn it into a lucrative high-rise development.

Politis knows his club can’t survive on poker machine revenue forever and wants to leave it in safe hands for the next custodians of the club.

“That should be any chairman's objective,” he said. “At the moment, our commercial property is valued at $120m and we have no debt. Next year, we will have $10m in cash in the bank. We’re in a very good position financially.”

Now to the small matter of finding the next chairman.

This column raised the question at the start of the year when rumours started floating around that Politis was about to stand down. It is no closer to being answered.


Former David Jones boss Mark McInnes was being prepared to take over but he’s since left the board. Former Nine boss David Gyngell is a possibility. So, too, is businessman Mark Bouris.

Powerful TV executive Mark Fennessy is an important board member who was fundamental in getting fullback James Tedesco to the club when Politis refused to deal with Tedesco’s manager, Isaac Moses, after a spectacular fallout.

But Fennessy, like many on the club’s high-powered board, doesn't have the time to juggle work life and Roosters’ life.

“I want to make sure whoever takes over has the time, enthusiasm and passion to make sure the club continues to be successful,” Politis said. “We have some good candidates on our board. We’ll sort something out.”

Uncle Nick usually does.
https://www.smh.com.au/sport/nrl/ro...arting-gift-for-his-club-20180927-p5068k.html

This is how you become a powerhouse. What have we done over the years with all the 10's of millions that have slipped through our clubs fingers? We are a richer club then them and yet from memory every asset that we bought ended up a turkey one way or another.

Well given how you know how to play the finance game, why can't you bring in all the billions you control and take over the Parra board?

 

[Chipmunk]

So he is just getting the Roosters “club” to take over other “clubs” and do some developments.

What is Parramatta Leagues worth? How does that compare to the roosters club?

Also don’t we also have some substantial developments in process?

Anyhow funny how we are mentioned as losing money when supported by our club , yet the roosters are smart when their club who supports them, expands !!

The Raiders have 7 or 8 Clubs and well over 800 Poker Machines across three States...doesn't necessarily equate to Premiership success....Particularly when the NRL gives each team more money than you can actually pay your players.

 

[Barry O'Speedwagon]

Broncos are listed on the ASX. Majority shareholders are 76% News Ltd and 22% rich merkin Phil Murphy

Don't be silly. News own 69%.

 

[Gary Gutful]

Nick Politis is a one off rich weirdo that would rather spend his money on his football team when his contemporaries blow it on other indulgent shit. If he was a Parra fan we’d be the envy of all other clubs in the comp.

 

[hineyrulz]

I'm starting to think it's time to start up the Fencesitters. That way members can throw shit at both sides without fearing either.

Fencehuggers.

 

[strider]

I'm starting to think it's time to start up the Fencesitters. That way members can throw shit at both sides without fearing either.

Thats sensational ... you are an innovator

 

[84 Baby]

Thats sensational ... you are an innovator

Then again maybe he isn’t

 

[Eelogical]

Fencehuggers.

There's going to be a meeting, . I'm in, regardless. First on the agenda, Fencehuggers or Fenceriders. Both have appeal. Thoughts and possible members?

 

[84 Baby]

There's going to be a meeting, . I'm in, regardless. First on the agenda, Fencehuggers or Fenceriders. Both have appeal. Thoughts and possible members?

I think you’re going for Fenceriders. Fencehuggers sounds like a group for simpletons

 

[Barry O'Speedwagon]

O’Neil isn’t a name that goes down well with culture and behaving in the proper manner either.

Yeh, I haven't offered an opinion about him. I just don't know enough about him. Doesn't seem to stop anyone else though. Seems an odd decision on the surface, but if you only employ people who are already at the top, you run out of applicants. But I don't really know how much influence this position is actually going to have.

If you know what he's supposed to have done PM me.

 

[hineyrulz]

There's going to be a meeting, . I'm in, regardless. First on the agenda, Fencehuggers or Fenceriders. Both have appeal. Thoughts and possible members?

Splinter Huggers instead???

 

[Poupou Escobar]

Does Nick have more money than sense!!! Sounds like Rugby League answer to Malcolm Turnbull..He would be better off giving it to WAYSIDE CHAPPLE where he could help some poor buggar survive..

Give it to Ian ‘Wayside’ Chapple.

 

[Gronk]

I'm starting to think it's time to start up the Fencesitters. That way members can throw shit at both sides without fearing either.

Thats sensational ... you are an innovator

 

[hindy111]

did you mum leave the side down on your cot again ?

You or my?

 

[Poupou Escobar]

You or my?

 

[Glenneel]

Roosters chairman Nick Politis preparing $500m parting gift for his club

For the past 25 years, Roosters chairman Nick Politis has sat in the same seat — row N, bay 62, seat — at Allianz Stadium to watch his beloved team.

When the stadium is knocked down following next Friday’s Michael Buble concert, the SCG Trust will give Politis the seat as a souvenir.

It's a nice touch but a more pressing question is how much longer will Politis, 76, be sitting on the throne of the Roosters?

Will a grand final victory over the Storm on Sunday night prompt Politis to step back and hand over the chairmanship?

“No mate,” Politis said. “I haven’t thought about retirement”.


Then he let out his signature giggle.

“Can we just wait and see if we win first? One step at a time. But I won’t be retiring.”

Politis certainly understands, though, that he can’t run the club forever and is preparing for the future. His end-game is to deliver a property portfolio worth $500 million before he finishes.

He might have made his way in the world selling cars but much of his fortune can be attributed to property. He was last year ranked No.82 on The Australian Financial Review's Rich List with an estimated wealth of $773 million.

On his watch, the Roosters have snapped up Waverley Bowling Club, Berkeley Sports, Kingswood Sports Club and Woy Woy Leagues. They also plan to turn North Bondi Golf and Diggers Club into a multi-purpose sports centre.


The centrepiece is a redeveloped Easts Leagues in Bondi Junction. The club has snapped up most of the property on the L-shaped block on the corner of Spring Street and Bronte Road with a long-term plan to turn it into a lucrative high-rise development.

Politis knows his club can’t survive on poker machine revenue forever and wants to leave it in safe hands for the next custodians of the club.

“That should be any chairman's objective,” he said. “At the moment, our commercial property is valued at $120m and we have no debt. Next year, we will have $10m in cash in the bank. We’re in a very good position financially.”

Now to the small matter of finding the next chairman.

This column raised the question at the start of the year when rumours started floating around that Politis was about to stand down. It is no closer to being answered.


Former David Jones boss Mark McInnes was being prepared to take over but he’s since left the board. Former Nine boss David Gyngell is a possibility. So, too, is businessman Mark Bouris.

Powerful TV executive Mark Fennessy is an important board member who was fundamental in getting fullback James Tedesco to the club when Politis refused to deal with Tedesco’s manager, Isaac Moses, after a spectacular fallout.

But Fennessy, like many on the club’s high-powered board, doesn't have the time to juggle work life and Roosters’ life.

“I want to make sure whoever takes over has the time, enthusiasm and passion to make sure the club continues to be successful,” Politis said. “We have some good candidates on our board. We’ll sort something out.”

Uncle Nick usually does.
https://www.smh.com.au/sport/nrl/ro...arting-gift-for-his-club-20180927-p5068k.html

This is how you become a powerhouse. What have we done over the years with all the 10's of millions that have slipped through our clubs fingers? We are a richer club then them and yet from memory every asset that we bought ended up a turkey one way or another.

Didn't we also have a large property portfolio which Spags then sold most of it off?

 

[Glenneel]

As well as Roosters

Russell Crowe and Jamie Packer are the owners of Souths.

Lafranchi (sp) the Chair of Cows is worth $200m

Storm --> Bart Campbell, the executive chairman of London-listed sports management group TLA Worldwide, CrownBet chief executive Matthew Tripp and Financial Review Rich List member and Jayco founder Gerry Ryan now own the Storm after another investor, theatre entrepreneur Michael Watt, sold out earlier this year.

Broncos are listed on the ASX. Majority shareholders are 76% News Ltd and 22% rich merkin Phil Murphy

If those shareholding figures are correct for Broncos doubt they'd be allowed to remain listed on ASX.

 

[Gronk]

If those shareholding figures are correct for Broncos doubt they'd be allowed to remain listed on ASX.

How come ?

https://www.investsmart.com.au/shares/asx-bbl/brisbane-broncos-limited

 

[Glenneel]

How come ?

https://www.investsmart.com.au/shares/asx-bbl/brisbane-broncos-limited

View attachment 23848

Haven't read ASX listing rules lately but with only 2% free shareholding there is a lack of liquidity. They would delist you and you become private company.

 

[Barry O'Speedwagon]

Haven't read ASX listing rules lately but with only 2% free shareholding there is a lack of liquidity. They would delist you and you become private company.

There's notionally 10% 'free' shareholding. They couldn't initiate a listing with their current structure, but the ASX won't force them to buy out the minority shareholders.