The Chairman is worth near 800 million!! That's next level wealth and power. Every other club in Sydney is behind the 8ball going up against that.
I'm sure our leagues club and its assets are worth upwards of at least a couple hundred million, so we aren't exactly paupers either.
The issue is what have we done with all the tens of millions, if not hundreds of millions that our very, very profitable leagues club has made over the past 30+ years? Sure millions have been spent on a terribly run football club, but what about all the other millions of dollars?
All I ever saw were investments in bad club and real-estate ventures, that produced no profit or very modest profit at best. The way I see it, if you have a leagues club that is year on year in the most profitable top 10 leagues clubs list in NSW, then you should be way deep in solid to major asset acquisitions that, in Sydney, should have seen huge growth over the same period.
Instead, we are just now redeveloping our leagues club with hotel and parking lot upgrades in the tune of around $110-120m. This is a great first step, but well and truly overdue. After this development is complete and things settle down a little, maybe a couple of years and our football department stops the bleeding, I would hope to see the leagues club invest into major real estate projects and acquisitions. We have one of the leading bankers in the country on our board ffs, surely he would/should have the good oil on what to invest in?
But, this doesn't excuse the fact that we have as a club, squandered many years and 10's of millions on who knows what. Lets hope we can improve substantially from here on in. But I won't be holding my breath.