Should St George Illawarra end their joint venture?

[Hard Yards]

Didn't a very wealthy "commercial entity" purchase the Newcastle Knights, with much fanfare and joy, along with signing the best premiership winning coach, who secured a strong playing roster, he "the coach" was given a free hand as to recruitment, player development and key staff appointments. A junior development program was also put into place. It was touted as the way forward for the clubs of the NRL. A capitol reserve or guarantee of funds were sought and secured by the previous board before they became redundant. This action by the departing board turned out to be a salvation, although highly criticised as an unnecessary step at the time. As the hopes of a new era for the Knights turned out to be a house of cards. Dreams were shattered reputations destroyed. Wayne Bennett ironically said when leaving SGI he would rather leave on his own terms as "coaches nearly always stay too long and it always ends in tears, and I don't want that to happen here". Morale of the story....... be careful what you wish for as you might just get it.

 

[possm]

We are re-visiting the past when first Cronulla Southerland split away deviding our district and junior catchment area with the blessing of the ARL and member clubs at the time. Then Illawarra decided to split away further dividing our district and junior catchment area.

But wait, Cronulla nearly went bust and still could do so if property prices continue to decline. Then Illawarra went bust with WIN Corp coming to their rescue buying their shares and paying the debts (much of which was owed to WIN and the Gordon family anyway).

Now St George are on solid ground financially, WIN Corp owns Illawarra and Cronulla are still not out of the woods. If I was to invest my money surely would not go to Illawarra or Cronulla however St George looks like a good bet.

I don't buy the line about the Taj. In its day it was one of the best clubs in Sydney. There was a 2 to 3 year wait for membership. Unfortunately management has let it go down the tube but I'm confident a good operator could refurbish it and make it rock again. Maybe it can be re-named St George Sports club and so bring in other sports such as union, soccer and touch football to boost membership and have shared use of Kogarah Jubilee Oval.

I wouldn't worry if some day we lost the Illawarra district as a district. We would just follow the way other clubs like Easts, Souths and Canterbury operate; with a smaller district competition, less junior clubs and a stand alone operation. We could just snatch players from the Illawarra district when we spot them or when they come to us; just like most of the other clubs do.

Make it so that full members of the St George Leagues Club are also full members of the St George Football Club and that full members have a right to vote at Board AGMs each year. I have no doubt that we would quickly see a vast improvement in the performance of both the Leagues Club and the Football Club.

Yes I can hear it now, back to the good old days, every home game at Kogarah.

For those that do not know, I was born at Bulli Hospital and lived at Wenona early in my life however, I have always been a Saints supporter.

 

[Saints Forever]

Poor analogy..

Channel 10 was still conquered.

The equivalent of such a similar situation here would see the Dragons sold off to an overseas club.

Maybe CFG could buy the licence and we could become Wollongong City RLFC..

Either way, the future looks as sunny as North Wollongong beach in summer..

WIN had a major stake in channel10, rather than conquer 10, WIN's interest disintegrated, just as it will in this JV.

When Bruce falls off the perch bye-bye WIN.

 

[muzby]

WIN had a major stake in channel10, rather than conquer 10, WIN's interest disintegrated, just as it will in this JV.

When Bruce falls off the perch bye-bye WIN.

Dafuq are you on about?

 

[SaintPauli]

St George Leagues Club has a very strong balance sheet including property that is likely valued below market value. The club is worth more closed than as an ongoing concern. Whats more likely is the Leagues Club property is sold off and the club moved to the Illawarra.

We now have
a regional broadcaster who owns half of the JV,
a club worth more closed than open,
games have been moved away from Kogarah,
the NRL pushing for WIN and Illawarra involvement in the JV,
a geographically spread fan base.

There is already a long term plan being played out.

Selling the Taj will only benefit the club for so many years. A companay like WIN is never a guarantee. Therefore the Taj should not be sold. Remember it was The Taj bailing out the illawarra leauges club throughout the joint venture.

 

[SaintPauli]

WIN had a major stake in channel10, rather than conquer 10, WIN's interest disintegrated, just as it will in this JV.

When Bruce falls off the perch bye-bye WIN.

Correct !

 

[Dennis Papaioannou]

We are re-visiting the past when first Cronulla Southerland split away deviding our district and junior catchment area with the blessing of the ARL and member clubs at the time. Then Illawarra decided to split away further dividing our district and junior catchment area.

But wait, Cronulla nearly went bust and still could do so if property prices continue to decline. Then Illawarra went bust with WIN Corp coming to their rescue buying their shares and paying the debts (much of which was owed to WIN and the Gordon family anyway).

Now St George are on solid ground financially, WIN Corp owns Illawarra and Cronulla are still not out of the woods. If I was to invest my money surely would not go to Illawarra or Cronulla however St George looks like a good bet.

I don't buy the line about the Taj. In its day it was one of the best clubs in Sydney. There was a 2 to 3 year wait for membership. Unfortunately management has let it go down the tube but I'm confident a good operator could refurbish it and make it rock again. Maybe it can be re-named St George Sports club and so bring in other sports such as union, soccer and touch football to boost membership and have shared use of Kogarah Jubilee Oval.

I wouldn't worry if some day we lost the Illawarra district as a district. We would just follow the way other clubs like Easts, Souths and Canterbury operate; with a smaller district competition, less junior clubs and a stand alone operation. We could just snatch players from the Illawarra district when we spot them or when they come to us; just like most of the other clubs do.

The make it so that full members of the St George Leagues Club are also full members of the St George Football Club and that full members have a right to vote at Board AGMs each year. I have no doubt that we would quickly see a vast improvement in the performance of both the Leagues Club and the Football Club.

Yes I can hear it now, back to the good old days, every home game at Kogarah.

For those that do not know, I was born at Bulli Hospital and lived at Wenona early in my life however, I have always been a Saints supporter.

For what it's worth Possm - one of your best posts ever.
Many people are quick to write off the St. George district in the name of decentralization.
It is amazing what is possible with some astute management.
Saints always Saints. No dilution, no compromises.
We will do more than just survive.

 

[muzby]

Many people are quick to write off the St. George district in the name of decentralization.
It is amazing what is possible with some astute management.

And where is this management? They’ve been running St george into the ground for over 30 years now..

It is amazing what is possible with some astute management.
Saints always Saints. No dilution, no compromises.
We will do more than just survive.

You will..

And the NSW Cup will be honoured to have such a club running around in it..

 

[muzby]

Selling the Taj will only benefit the club for so many years. A companay like WIN is never a guarantee. Therefore the Taj should not be sold. Remember it was The Taj bailing out the illawarra leauges club throughout the joint venture.

Incorrect..

The NRL provided the bulk of the funds.

 

[muzby]

Correct !

Incorrect..

You and Saints Forever should probably go brush up on the cross media ownership laws at the time..

 

[Carlton]

Selling the Taj will only benefit the club for so many years. A companay like WIN is never a guarantee. Therefore the Taj should not be sold. Remember it was The Taj bailing out the illawarra leauges club throughout the joint venture.

I'm not advocating the Leagues club be sold, that we move to the Illawarra and rely on WIN.

I'm saying that this is looking like the scenario that is playing out. Selling the Leagues club to a developer would generate conservatively $40+ million and you can bet there would be some very good bonuses paid if this happened.

The NRL are making it more and more obvious they are pushing the club to be based in the Illawarra. We now have a part owner of the JV based in the Illawarra who appears to be making a lot of the decisions.

If the club is Illawarra based why would a mediocre Leagues club in Kogarah be kept?

 

[muzby]

If the club is Illawarra based why would a mediocre Leagues club in Kogarah be kept?

Gives a good rest stop for Wollongong fans when we play at Brookvale..

 

[possm]

And where is this management? They’ve been running St george into the ground for over 30 years now..


You will..

And the NSW Cup will be honoured to have such a club running around in it..

Does Illawarra have a team in the NSW Cup? Illawarra are hanging onto the St George coattail and WIN Corp apron strings. They went bust despite all of this support.

St George would do well without the Illawarra old boys running thngs and with a democratic system for election of Board members. Finally our leagues club and football club may have a management team hire through an open recruitment process where employees are hired because they are the best applicant for the job; not by who they know or who they have sworn allegiance too.

I can only wish for this day in St George's history to come sooner rather than later.

 

[Carlton]

Gives a good rest stop for Wollongong fans when we play at Brookvale..

And thats the trouble, thats all it would be.

 

[hazzbeen]

I'm not advocating the Leagues club be sold, that we move to the Illawarra and rely on WIN.

I'm saying that this is looking like the scenario that is playing out. Selling the Leagues club to a developer would generate conservatively $40+ million and you can bet there would be some very good bonuses paid if this happened.

The NRL are making it more and more obvious they are pushing the club to be based in the Illawarra. We now have a part owner of the JV based in the Illawarra who appears to be making a lot of the decisions.

If the club is Illawarra based why would a mediocre Leagues club in Kogarah be kept?

This , it is prime real estate at the moment there are high rise going up everywhere along the Princess Hwy .... I can see it being sold off , the Club is is need of major upgrade , sell it with the condition of who ever buys it that the Club is to be built again with high rise above it ......

 

[muzby]

Does Illawarra have a team in the NSW Cup?

Why would we want a team in the NSW Cup when we have one in first grade?

Mind you, I do 2016 NSW Cup looked good in Wollongong.. We would bring that winning culture into 1st grade if you guys decided to depart..

St George would do well without the Illawarra old boys running thngs and with a democratic system for election of Board members.

Good luck with that..

How long you guys been trying for that again?

Finally our leagues club and football club may have a management team hire through an open recruitment process where employees are hired because they are the best applicant for the job;

They mustn’t have a very high calibre of people apply then.

 

[muzby]

And thats the trouble, thats all it would be.

We could utilise some of the space as an Amazon fulfilment centre?

E-commerce is the future!

 

[Carlton]

This , it is prime real estate at the moment there are high rise going up everywhere along the Princess Hwy .... I can see it being sold off , the Club is is need of major upgrade , sell it with the condition of who ever buys it that the Club is to be built again with high rise above it ......

I would be surprised if this happened, the developer would not be keen on this unless there was an excessive discount in the price. The Leagues club is dying and the management have not shown they are capable of running one, without a presence at Kogarah this would be an even worse situation.

Keeping the Leagues club at Kogarah will not keep the football team at Kogarah. Sadly, I think things have been left too long and the plans are too far advanced for anything than a move to the Illawarra to be possible. This, even though it upsets me, I can live with. What I find hard to live with is the double dealing that has been going on and the fact that for no reason WIN now owns half of the JV.

 

[hazzbeen]

I would be surprised if this happened, the developer would not be keen on this unless there was an excessive discount in the price. The Leagues club is dying and the management have not shown they are capable of running one, without a presence at Kogarah this would be an even worse situation.

Keeping the Leagues club at Kogarah will not keep the football team at Kogarah. Sadly, I think things have been left too long and the plans are too far advanced for anything than a move to the Illawarra to be possible. This, even though it upsets me, I can live with. What I find hard to live with is the double dealing that has been going on and the fact that for no reason WIN now owns half of the JV.

Mate , I can see it happening , while they are building from scratch it can be incorporated in the plans surely it would be worthwhile for who ever takes it on ...... Like I said it is a large and prime location . Anyway something has to give, the Leagues Club is behind times like the footy team ..... Time will tell...

 

[possm]

I would be surprised if this happened, the developer would not be keen on this unless there was an excessive discount in the price. The Leagues club is dying and the management have not shown they are capable of running one, without a presence at Kogarah this would be an even worse situation.

Keeping the Leagues club at Kogarah will not keep the football team at Kogarah. Sadly, I think things have been left too long and the plans are too far advanced for anything than a move to the Illawarra to be possible. This, even though it upsets me, I can live with. What I find hard to live with is the double dealing that has been going on and the fact that for no reason WIN now owns half of the JV.

Yes, St George just needed to call in the Illawarra debt and take their shares in lieu of this bad debt. Then take the higher offer for half of the shares held by St George and with those funds repay the loan to the NRL and use remaining funds to hire a new head coach, new assistants. Bank the remaining funds.