Sharks Village development?

[yadamisha]

Nothing at this stage. It was only one of many options the club was looking at as a means of covering all angles of what options where available to them which would then be put to members. This mission was stated at the last AGM and a process of this was to put out a circular to clubs NSW aking about a willingness for other clubs to merge with the Sharks Leagues (nothing to do with the football club).

Problem is that those who have no idea then took it as a desperate attempt by the club to stop the leagues club from folding!!!!! This isn't the case.

 

[jackal]

Has that happened? Is there a buyer?

It was public knowledge the expressions of interest were put out in the industry.

No buyer. Then again it was a difficult process for some to obtain the relevant information to dip their toe in the water. In all honesty, they're in debt in excess of $11m, that is not a viable short to mid term investment.

Will the buyer take over the football club debts as I seem to recall the Leagues Club taking them on. I assume they are still not servicing those debts and hence the plea for money.

The football club became self sufficient (financially) last year with the removal off all existing debt. With onerous conditions in place from the bank it makes it impossible for the Leagues Club to continue the fiancial support it has in years past. This is why the offer was put out - someone to take the Leageus Club and loophole around the bank conditions and supply financial assistance to the football club.

 

[samshark]

The club made a plea at the 11th hour to the bank in December for finance. Not a positive sign in lieu of this almighty rich development that is sitting waiting to prosper. Coupled with the advertisement to sell off the Leagues Club in recent months, one would think questions and possibly tough decisions are staring the Auditors down in the next 60 days.

I recall a business once that had 70% of creditors in excess of 90 days, some exceeding 120 days. They were into the ATO for 10% of their annual turnover. But ignorance had them sitting on the pumped up golden egg to hatch.

Needless to say, when the smoke cleared and the one way glass was pulled down, the egg never hatched and there was nothing left but a fire sale.

At least in the Sharks case there is the last couple of seasons to refelct on for comfort.....

For clarity its worth reading all the smoke-articles published. The development will be announced and who the successful company will be, but to think the club will receive an on-going financial life jacket is another matter.

So we can take it that you were present at a recent presentation to various corporates and sponsors about the development and goings on at the club.

 

[jackal]

What a load of crock and given your rep for poor predictions it is hardly believable.

If i recall correctly my last prediction was for Onsite Cleaning to become a new sponsor and push out the encumbant contractors for 2011. Lets see how that plays out shall we ;-)

The way this is written smacks of someone writing based on what they have heard and not what is the case.

Not at all. Feel free to challenge my point sa opposed to turning the torch on me. Would you like to challenge my credibility on the above prediction for 2011?

There was never a proposal to sell off the leagues club as you suggest.

Oh dear.

http://www.smh.com.au/rugby-league/...h-club-a-winwin-for-shire-20101014-16luy.html

Tradies chief executive Tim McAleer said discussions had been held between Tradies president Graham Hill and Sharks chairman Damian Irvine about the potential link, and his entity was now examining Cronulla's assets and liabilities

We expect them to be very candid about their situation.''

An amalgamation is the sale of a club within the RC Act.

The whole post is laughable.

Of course it is. Your only half reference is this magnificent meeting that was recent - that is laughable.

 

[jackal]

So we can take it that you were present at a recent presentation to various corporates and sponsors about the development and goings on at the club.

Im not a sponsor so how could i attend?

And really, do you think they would disclose negative aspects at such a meeting? They posted financial targets at the last AGM rather than the mid-year actuals - lol.

 

[jackal]

This mission was stated at the last AGM and a process of this was to put out a circular to clubs NSW aking about a willingness for other clubs to merge with the Sharks Leagues (nothing to do with the football club).

Problem is that those who have no idea then took it as a desperate attempt by the club to stop the leagues club from folding!!!!! This isn't the case.

The Leagues Club is not in danger. Its the football club. As publicly stated there are onerous conditions in place from the bank so by merging there is opportunity to provide increased financial assistance to the football club - its a smart business move and a neccessary one for strength.

Serioulsy, if anyone thinks receiving a bit of rent from an estimated $150m development is good, then that is concerning.

 

[carcharias]

Serioulsy, if anyone thinks receiving a bit of rent from an estimated $150m development is good, then that is concerning.

huh?

 

[Ausguy]

Think he is saying that we should be getting more than a little rent.

Jackal if you know more then why not tell us who you are and wat you know. I'm sick of the ghosts that blow through here saying they know wats going on but saying nothing.

 

[newman]

But you weren't present at that meeting were you jackal?

So you dont have the latest information, and are therefore sensationally posting half truths, conjecture and rumor that nobody else (except you) claim to be true.

To me, your posts smack of someone who has been "wronged" by the current administration and are out for petty revenge, albeit anonymously.


If you are so clued in, why don't you tell us who you are, how you get your info and what your agenda is?

 

[jackal]

huh?

What i mean is that if the club were financially strong they would have more leverage in what return they would receive. As they owe massive debt they have no leverage in negotiations with developers. A developer is not going to outlay $110m - $150m if they were not going to see return on their investment. The club should be reaping reward from developing thier site - not a bit of rent.

Its one thing to say you own the land, but a developer is not going to be drawn and quartered into a deal without some hold of power.

Lets look at the brand in brief;

- last two seasons performance and affect on sponsorship
- gate receipts / crowd numbers for same which are vital for selling sponsorship
- continual decline in profit / financial performance of the Leagues Club over recent years
- $11m debt over the Leagues Club transitioned from football club
- putting out a public expression of interest to merge the Leagues Club - (no sustainability of possible growth to climb out of the debt)
- no CEO of football
- no CFO, though the one this year lasted 2 months others have allegedly declined
- Osborne did better than the CFO by lasting 3 months before packing
- the current General Manager of Leagues Club dragging negative publicity for the brand due to allegations from former employer
- etc, etc etc

On the surface, it's not an attractive looking brand so its no surprise the club woud lack leverage power at the negotiation table.

 

[newman]

Ftr, I was at that meeting jackal. And I'm not a sponsor. There were others there that weren't sponsors either..... How come you didn't get an invite? Go on, tell everyone.

 

[jackal]

Ftr, I was at that meeting jackal. And I'm not a sponsor. There were others there that weren't sponsors either..... How come you didn't get an invite? Go on, tell everyone.

I guess it pays to be in the clique - lucky for you. Do you think the development will save the club? Why dont you tell us how the development will be the golden egg?

 

[jackal]

But you weren't present at that meeting were you jackal?

So you dont have the latest information, and are therefore sensationally posting half truths, conjecture and rumor that nobody else (except you) claim to be true.

To me, your posts smack of someone who has been "wronged" by the current administration and are out for petty revenge, albeit anonymously.


If you are so clued in, why don't you tell us who you are, how you get your info and what your agenda is?

:lol: - paranoid much.

Im open for you to correct my rumour Newman.

 

[newman]

Because I've been asked not to. The information about the development will be released to a vote for members very shortly. Then everyone can see the facts and make a decision for themselves.

What members will see is a very well thought out, sound development and business plan that injects money in the form of substantial profit (not just a 'bit of rent') into the club in the short, medium and long term whilst also vastly improving foot traffic into the leagues.

Why don't you tell us who you are jackal and why you are so negative and bitter?

 

[jackal]

Think he is saying that we should be getting more than a little rent.

Jackal if you know more then why not tell us who you are and wat you know. I'm sick of the ghosts that blow through here saying they know wats going on but saying nothing.

Other than the Onsite cleaning, majority of my stuff is merely opinion. How others interpret it is their prerogative. If i speculate the door is open for it to be challenged. Whilst some (not you) wish to ridicule me for expressing a contrary opinion against the current administration, it is noted they fail to correct the opinions i post other than saying they were present at said meetings.

 

[azzah72]

I think alot of people in here know "some" details and are basically filling in their own gaps.

From what I know, yadamisha is mostly correct, they are not "selling" the club, they are amalgamating with the desired result being a better cash flow and better support for the leagues club and football club.

I know a couple of people in all different parts of the club, I don't get alot of info off them because I don't want to come across as some guy thats going to release all this info. I do occasionally ask and it just so happens I spoke with someone at christmas.

Long story short, we are in no different position than we were 6 months ago when we all discussed this.

The club is not going to go under in a few weeks or anything like that.


-The leagues club is in the black as a cash business and is very very slowly trickling cash into the $12 odd mill debt the previous admin left us.

-They are all brain storming ways of making profit from the grounds in the off season (carols by candlelight and the open air cimemas is the current thing) but they want to do concerts and stuff there next off season.

-They are brainstorming on thing to get the members back into the leagues club, especially after games as apposed to going to northies. (I don't know what), they pretty much get killed in the off season.

-I believe the development is in the fine tooth comb mode and it should provide every bit of financial support as all the news articles and info we have been told suggests. But not sure when the green light will flash and everything will get going.

-the business model is working, their strategies are working, yes they for in the red overall but they are not losing anymore money, they are slowly closing the gap and operating well. Unless something real bad happen, they will continue to run in the black as a cash business, they will continue to slowly close the financial gap, the developement will eventually proceed and then the extra income will eventually clear all debt. The amalgamation is still an option as a means on easing the debt and to have fluent cash flow but it isn't "selling" the leagues club.

 

[jackal]

Because I've been asked not to.

Well why raise it then?

Why don't you tell us who you are jackal and why you are so negative and bitter?

My stuff is not all negative. Earlier i agreed with the possible amalgamation for long term growth. Its only the contrary stuff you disagree with. As for being bitter you are wrong, may i suggest your interpretation is off the mark.

If you suspect i am someone you think, why not just say it? Or are you more interested in playing the man than the ball?

 

[newman]

Azzah, thank you for posing that excellent, objective summary.

Jackal, it's not my place to go "outing" people, and it's against forum rules. It's your perogative to be an anonymous sniper.

 

[Dragon Slayer]

Jackal,

Why not wait and see what is being proposed to the members re: development before mocking what you think the proposal is?

There is no way you would be privy to the finer details so I think it is rather silly for you to come out with so much venom towards this administration at this point in time.

 

[jackal]

Azzah, thank you for posing that excellent, objective summary.

Jackal, it's not my place to go "outing" people, and it's against forum rules. It's your perogative to be an anonymous sniper.

If you think im a sniper because i post to the contrary then by all means please put out where i have sniped? With respect, you seemingly take offence to aything that is not on the rub of the club. The years i haev supported the team i think i am entitled to express any opinion i wish. If you do not like it and fail to challenge my points other than say 'im wrong', you could always utilise the ignore button to exempt yourself from supporter heartache.

Anyone would think this is federal office. Its a message board for gernerating discussion to which i have done this monring ;-).