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Ryan Webb

possm

Coach
Messages
14,221
It all starts with the Board and the grubby way the buy out of the Illawarra shareholding was done. The main reason for the WIN/Gordon buy out was to avoid taking a total loss with regards to Illawarra bad debt. If the shareholding was snapped up by St George, who Illawarra was also indebted to, it could have been a totally different story today.

The deal took so long to be made mainly because of self interested Board members wanting to ensure their seat on the gravy train was secured long term. I estimate the Dragons would have been 10m better off if they snapped up the Illawarra shares in leu of unpaid debt and then restructured the St George Football Club in a way that members had a democratic say and the Board members were accountable each year for their decisios.

Where was the NRL, why did not they intervene and insure that this did not occur. Maybe they have their own ulterior motive (moving a weak Dragons Club to Wollongong).

Well this has happened, now what can be done about it. In recent times we have seen that this Board can be shaken into action if enough pressure is applied. A prominant person needs to take up the cause, gather support and bring pressure on WIN Corp to give up their shares and become a sponsor rather than an owner.

From that point on a restructure of the Club could happen under an interim Board. One of the key changes to be a 20% share offering made available for purchase by Red V members. A maximum of 25 shares to be offered to each Red V member.at an opening price of $2.00 each.

Such a restructure would see St George Illawarra Football Club shares breakup as follows:

  • St George Leagues Club 40%, 4m shares, 12m dollars
  • New Partner 40%, 4m shares, 12m dollars
  • Red V Members 20%, 2m shares, 6m dollars
A Board Executive Committee should be formed consisting of one directly appointed Board members from each of the owner groups;
  • One from St George Leagues Club,
  • One from the new partner, and
  • One from the Red V membership.
These 3 appointments would help to ensure stability and continuity within the Board.

The remaining 10 Board members would nominated by the 3 membership groups as follows;

  • St George Leagues Club can nominate up to 6 candidates, 4 of which will be seated,
  • The new partner can nominate up to 6 candidates, 4 of which will be seated.
  • Red V Member can nominate up to 4 candidates, 2 of which can be seated.
Half of the Board positions, excluding the 3 appointed executive positions, will be voted to by the Board by the Red V membership at an AGM each year.

The Board itself will elect its chairperson for a two year term.


$30m dollars share value attached to this restructure. Of which some will be used to repay St George Leagues Club for buying out WIN/Gordons shares and another 12m counted in as the value of St George Leagues Club currently owned shares. So in effect a net fund raise of about $10m of which $6m representing the Red V membership new share holding. In addition it is estimated the Red V membership number will quickly grow to around 40,000 members.

What do my fellow forum members think about this post; be nice!
 

Forbes Creek Dragons

First Grade
Messages
5,078
First thing I would be doing is re signing Hook at least for another year. I love his attitude, this would also send a message that the rebuild is on and you either buy in or get out.
 

rasaint

Juniors
Messages
839
Hi Possm full marks for that detailed broad proposal on how a restructure of financing the club might work. You know your stuff. I remember a fair degree of controversy some years back as a rival proposal to the Gordon deal seemed significantly better in comparison. I think the rival was involved in sports administration and had horsepower. I know no more.
 

BBTB

Juniors
Messages
808
It all starts with the Board and the grubby way the buy out of the Illawarra shareholding was done. The main reason for the WIN/Gordon buy out was to avoid taking a total loss with regards to Illawarra bad debt. If the shareholding was snapped up by St George, who Illawarra was also indebted to, it could have been a totally different story today.

The deal took so long to be made mainly because of self interested Board members wanting to ensure their seat on the gravy train was secured long term. I estimate the Dragons would have been 10m better off if they snapped up the Illawarra shares in leu of unpaid debt and then restructured the St George Football Club in a way that members had a democratic say and the Board members were accountable each year for their decisios.

Where was the NRL, why did not they intervene and insure that this did not occur. Maybe they have their own ulterior motive (moving a weak Dragons Club to Wollongong).

Well this has happened, now what can be done about it. In recent times we have seen that this Board can be shaken into action if enough pressure is applied. A prominant person needs to take up the cause, gather support and bring pressure on WIN Corp to give up their shares and become a sponsor rather than an owner.

From that point on a restructure of the Club could happen under an interim Board. One of the key changes to be a 20% share offering made available for purchase by Red V members. A maximum of 25 shares to be offered to each Red V member.at an opening price of $2.00 each.

Such a restructure would see St George Illawarra Football Club shares breakup as follows:

  • St George Leagues Club 40%, 4m shares, 12m dollars
  • New Partner 40%, 4m shares, 12m dollars
  • Red V Members 20%, 2m shares, 6m dollars
A Board Executive Committee should be formed consisting of one directly appointed Board members from each of the owner groups;
  • One from St George Leagues Club,
  • One from the new partner, and
  • One from the Red V membership.
These 3 appointments would help to ensure stability and continuity within the Board.

The remaining 10 Board members would nominated by the 3 membership groups as follows;
  • St George Leagues Club can nominate up to 6 candidates, 4 of which will be seated,
  • The new partner can nominate up to 6 candidates, 4 of which will be seated.
  • Red V Member can nominate up to 4 candidates, 2 of which can be seated.
Half of the Board positions, excluding the 3 appointed executive positions, will be voted to by the Board by the Red V membership at an AGM each year.

The Board itself will elect its chairperson for a two year term.

$30m dollars share value attached to this restructure. Of which some will be used to repay St George Leagues Club for buying out WIN/Gordons shares and another 12m counted in as the value of St George Leagues Club currently owned shares. So in effect a net fund raise of about $10m of which $6m representing the Red V membership new share holding. In addition it is estimated the Red V membership number will quickly grow to around 40,000 members.

What do my fellow forum members think about this post; be nice!
Yes, I think it's a step in the right direction.....
You must get this toxic mess of board members.
Polluting our club, & our team culture. If the front office is scum, how can we expect better
from our players.
 

Smurf

Juniors
Messages
1,390
I posted this on JA , but have made a change to include Webb.

Under all those years of Price / Mary the only articles on the dragons seemed to be about how crap we were , also watching them , there were only about 6 games which excited me.

FMD , under Hook / Webb tenure we seem to be in the news every day / week , some of it good , some of it not good , and some of it beggars belief.

welcome to the dragons show , what a ride
 

denis preston

First Grade
Messages
6,509
Maybe it is creative accounting, I don't know. I DO know that, on the occasions that I have listened to Ryan Webb be interviewed, or read published articles by him, I can't help but think that he is a massive positive for the St George Illawarra Dragons club.
Absolutely OED. The worst thing for us is if he is poached elsewhere. He has a history of 3-4 year postings. I hope he feels that his job is far from over and many more hurdles associated with this JV has to be climbed.
 

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