Souths will have to move to the Central coast!

[Seano]

Thats pretty much how it is Seano. Wake up mate, you arent like the typical idiot Wabbit fans. Souths are worse off than Easts in terms of juniors and millions worse off financially. Probably why your club is dying again, and mine is well....not. Good luck this Sunday. Easts by 28.

You guys can argue on technicalities all you like.

The South Sydney junior competition is run by the South Sydney Juniors club, while the senior club looks after (well sometimes..) the senior players.

If you want to argue that South Sydney have no juniors because there are two entities then fine, go for your life - it just seems irrelevant to me. If you really truly believe that Souths have no juniors, then there is no help for you.

 

[Seano]

Sad to think that Souths rely on Souths Juniors for funding. It's like relying on my son to provide me with an allowance so I can live.

Do you really think that a vote of "YES" will change the club for the better? Recent history shows not. Souths have changed coaches, board members and CEO's. Yet no evidence suggests that the club is stable and moving forward.

When even the nephew of the influential member refuses to sign with the club let alone attract a player of note can only mean that there is no confidence in the club. Ashley Harrison could get out of the joint quick enough and you guys will suffer without him.

I do believe that a YES vote will mean a future for Souths. It aims to remove the factionalism from Souths (if thats not a word, it should be ) and actually bring the club into the 21st century.

Its akin to you blokes bringing in politis and whoever came after ron jones and moving the club forward.

In saying all that though, if the no vote gets up then you right. Souths will NOT have a future

 

[Catatonic_Omnivore]

I do believe that a YES vote will mean a future for Souths. It aims to remove the factionalism from Souths (if thats not a word, it should be ) and actually bring the club into the 21st century.

Its akin to you blokes bringing in politis and whoever came after ron jones and moving the club forward.

In saying all that though, if the no vote gets up then you right. Souths will NOT have a future

Factionalism sounds good, go ahead and use it. English is my second language so who am I to say.

Kindly educate me on what a "YES" vote really means. Does that mean Souths sell out to Crowe & PHAC?

 

[Seano]

Factionalism sounds good, go ahead and use it. English is my second language so who am I to say.

Kindly educate me on what a "YES" vote really means. Does that mean Souths sell out to Crowe & PHAC?

Exactly right, if you are interested check out www.thebell.com.au and see what the proposal is really about

 

[Catatonic_Omnivore]

Exactly right, if you are interested check out www.thebell.com.au and see what the proposal is really about

I've read the "laymans" interpretation of the proposal and I understand as follows:

On ownership...
Blackcourt gets 75% of Souths and the "Member company" gets 25%. Profits, if any, 75% gets paid to Blackcourt but the "Member company" is not entitiled to receiving dividends from profits, instead they have to re-invest the profit back to the Football club.

Should the need arises to raise further capital, e.g. issuing more shares, Blackcourt shall receive equivalent shares so that their ownership stays at 75%. But the number of "Company Members" shares remain as they are, in effect diluting ther value.

If Blackcourt decides to bail out they can sell their 75% share to the "Member Company" for $1. Pretty good exit strategy.

On Administration...
Control will be based on an 8 member board. 4 from Blackcourt (1 of them being PHAC), 2 from "Member Company", 1 from Souths Juniors and the CEO. The CEO by the way is elected by the board which majority is Blackcourt hence, i would assume that essentially Blackcourt would have 5 members on the board at some point in time. This means that Blackcourt would have control of the board.

It seems pretty one sided to me. No wonder PHAC is keen. Thinking about it. A $1.5m investment is not much for PHAC, I've read somewhere that his other interests in the Beef industry makes around $100m a year. For Crowe $1.5m is about what he gets for a 10min ad.

If they have had enough they can just bail out by selling their shares for $1 whilst the Member Company cleans up. Or finds someone to buyout Blackcourt. My guess this this stage comes just before being insolvent. So they would have to find a buyer to raise funds. I guess that's where Singo comes in.

I dunno...

 

[Seano]

Yeah fair enough, however it is also important to note that the important aspects of the club such as colors, logo, mascot, and home ground will be controlled by the member company.

So if hell froze over and Russel crowe sold out to john singleton, the members would still have to approve a move to gosford for instance

 

[Catatonic_Omnivore]

Yeah fair enough, however it is also important to note that the important aspects of the club such as colors, logo, mascot, and home ground will be controlled by the member company.

So if hell froze over and Russel crowe sold out to john singleton, the members would still have to approve a move to gosford for instance

Colors, logo, mascot, etc... Is the least of your worries. Whats that worth once the club is in Receivership?

When push comes to shove Blackcourt can just bail out. Kinda like getting on a commercial flight to see that only the pilot and co-pilot has parachutes.

Besides, I read somewhere that PHAC & Crowe are well within thier rights to sell Blackcourt any time they want. Members have no control over Blackcourt. So essentially, buy Blackcourt and you buy Souths.

It would be interesting to see how this all pans out, I remain sceptical. Thanks for the link though.

 

[rabbitohs]

Why would he do that? What has he to gain?

The only way HAC can win is by making the club profitable and then selling his share off for more than he paid. That is good for all involved.

As mentioned once we have a strong leader with a purpose other than to cover his mistakes the factions within the club will disintergrate.

As for moving to Gosford, there is a Sydney club that happily changed it's name, has a small fan base and whose juniors (what there are of them) can easily be incorporated completely with another juniors and have shown in the past that money is all that matters to them.

Say hello to your CENTRAL COAST ROOSTERS!!

 

[brendothejet]

You know what. all this talk of Souths juniors makes me laugh.

I play in the souths Junior comp and am a Souths Junior by default. I run around each weekend and come up against the best that there is in the junior structure. there are some great players.

There are some good players.

There are a lot of f**king awful players.

the long and the short of it is that Souths Juniors is not the nursery it once was. Unlike the Illawarra or Newcastle where A grade teams have a budget of hundreds of thousands of dollars, the souths juniors comp is full of:

1) Retiring players making their way down through the grades
2) Overweight polynesians who are impossible to tackle but humoungusly overweight.
3) Neville No One players like me who just love the game
4) The odd talent who might make it to reserves.

To rely on your juniors is a death sentance for souths. The NRL is a business and in business things need to happen now, not sit around waiting for little Billy or james to grow up from the under 7's and hope they might be the next big thing.

Juniors are an important FACET of a RL club, but they cannot be the pin upon which everything is linched.

 

[Catatonic_Omnivore]

Why would he do that? What has he to gain?

The only way HAC can win is by making the club profitable and then selling his share off for more than he paid. That is good for all involved.

It's called an exit strategy. Sure he will try his best to make things work out but he's no idiot. If things don't quite work out he can just sell Blackcourts shares and he and Crowe walks away and guess who's left to clean up?

Like i said, $1.5m isn't much to loose if you are PHAC oor Crowe. Sure its gonna hurt to loose it but it wont break them. Google PHAC and you will see what his other interests are and the amount of money he is involved with.

As for Souths move to the CC, I don't think I have made any references to that. Personally I dont really care where Souths play, just interested on how things pan out.

 

[marshall stalin]

best for the game and for souths is for souths to take the 11 million on offer and relocate to the Central Coast.

 

[Alba]

build a bridge -- u know where this is heading

 

[brendothejet]

build a bridge -- u know where this is heading

A bridge to the central coast??? wow that is a big bridge!

 

[Seano]

best for the game and for souths is for souths to take the 11 million on offer and relocate to the Central Coast.

Best for the Souths? or best for the Roo$ter$?

Souths go to the cc and South Sydney are dead. Cant wait for Sunday and all this CC bullsh*t will hopefully vanish

 

[Catatonic_Omnivore]

Hey Seano,
What i don't get is that one of Crowe's reason behind the purchase is that since he is putting money into Souths he at least wants to have a say in how its run.

But under the proposal put forward, Crowe has no say unless its through PHAC.

BTW, I really don't think it matters much to the Roosters whether Souths live or die. The club has prospered with and without Souths in the comp. I have heard that some people from Souths Juniors preferred if Souths just "went away".

 

[brendothejet]

at the end of the day souths are a rubbish team who will forever be cellar dwellers.

 

[marshall stalin]

Souths should grap the 15 million on offer and relocate to the central coast as telstra is a lame duck

 

[Seano]

You are beyond help.