Tiger5150
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- 3,595
Thats a beautiful, romantic, even whimsical story. unfortunately its complete fiction.They were better off financially then Manly when there merger started.
It was only they were dumb enough to allow Arko to have a clause that Manly come back in if the merger folded.
I am sure if my memory is correct if they moved to Central Coast in 2000.
Singo basically would have bankrolled them to play at that stadium up there they basically built it for and kept them afloat as a single entity
Unless of course by "better off financially" you meant under administration with a net debt of $1.6M, unable to pay creditors under administration, and the President of the Leagues Club and Football Clubs Ray Beattie & Bob Saunders appointing an administrator the day after paying themselves a massive redundancy....as better off?
Norths were totally insolvent and had been put in administration before the merger, in fact it was Norths Administrator who recommended that Norths accept the merger as it would allow some of the creditors under administration to be paid.