Surely not!

[R2K]

No secret that Sharks have been battling to make ends meet for decades.

Most recent story was in the papers a little while ago... hang on....

Here tis...
Sharks on the edge

6th May 2007:

THE Sharks are $1 million in the red and facing another financial crisis after it was revealed a federal government grant was used to bolster the club's coffers.

The Sharks, who have faced a number of financial difficulties in their 40-year existence, are reeling after paying out hundreds of thousands of dollars to axed coaches.

The grant, supported by the Sharks' No.1 ticket holder Peter Costello, can be used only to revamp the club's ground. It can't be used to pay off debts or wages.
Neither can the $194,942 interest accrued while the grant sits in the Sharks' St George bank account.

The Sun-Herald documented the Sharks' financial woes in September.
The just released football club's annual report confirms:
 The leagues club showed a low $44,000 profit.
 The leagues club's annual grant to the football club had increased by $300,000 to $1.8 million.
 The money paid to the football club's staff - coaches, players, management - increased by $1 million in 2005.
 Match-day revenue in 2006 dropped by $300,000.
 The football club had to borrow another $600,000 from the bank.
The leagues club's report was just as alarming:
 In just two years the Sharks Group had turned a $1 million profit into a $1 million loss.
 The club paid $300,000 in poker machine tax. That figure will increase next year.
 The leagues club plans to borrow $800,000 to construct "smoking decks" for when the government bans smoking in all licensed premises.

[excerpts]
Full story: link


This follows up a report a few months earlier where the Sharks No.1 ticket holder, Treasurer Peter Costello, was declaring that the Sharks were 'debt free'.

Here: http://www.treasurer.gov.au/tsr/content/transcripts/2006/045.asp


To quote former Sharks coach John Lang:
"The Sharks have no influence and no money... They have spent half their history staving off bankruptcy"
- John Lang

I like the last sentence here:

The Sharks' financial future is dependent on the development of land adjacent to the ground that had been rezoned from recreational to residential use.

The property is valued at $15 million but they have had to pay more than $1 million since 1999 to meet rezoning criteria.

While the Sharks have visions of an international-style hotel and aged housing estate, there isn't, at this stage, a property developer in line with any firm commitment to invest in it.

 

[Willow]

Sharks International was supposed to assure the future of the Sharks in the Shire.

Time will tell. As they keep saying....

 

[Southernsaint]

f**k, can Dave ever make a post without having to go back and edit it later??

I hope you're not as premature in other aspects of your life as you are when pressing the "reply" button...

 

[R2K]

f**k, can Dave ever make a post without having to go back and edit it later??

I hope you're not as premature in other aspects of your life as you are when pressing the "reply" button...

The minute-man!

 

[STEVE R]

I like the last sentence here:

The Sharks' financial future is dependent on the development of land adjacent to the ground that had been rezoned from recreational to residential use.

The property is valued at $15 million but they have had to pay more than $1 million since 1999 to meet rezoning criteria.

While the Sharks have visions of an international-style hotel and aged housing estate, there isn't, at this stage, a property developer in line with any firm commitment to invest in it.

As far as I know, the Sharks haven't actually put the proposal out there to any developers anyway.

I'm not sure about you guys, but I'd rather pay $1mil to gain $15mil than sit on a pile of worthless land. ;-)

The Sharks Leagues Club Annual Report actually doesn't make bad reading. The profit is there. This journo has picked out things that make the club look like they are about to fold. They aren't anywhere near that!

 

[Willow]

Mate, they are dealing on the credit note of grants which are held in an account at the St George bank, the major sponsor of the Dragons.
I know its all business, and I'm sure the heads are negotiating well... but that's what I call sailing close to the wind.

 

[Dave Q]

No secret that Sharks have been battling to make ends meet for decades.

Most recent story was in the papers a little while ago... hang on....

Here tis...
Sharks on the edge

6th May 2007:

THE Sharks are $1 million in the red and facing another financial crisis after it was revealed a federal government grant was used to bolster the club's coffers.

The Sharks, who have faced a number of financial difficulties in their 40-year existence, are reeling after paying out hundreds of thousands of dollars to axed coaches.

The grant, supported by the Sharks' No.1 ticket holder Peter Costello, can be used only to revamp the club's ground. It can't be used to pay off debts or wages.
Neither can the $194,942 interest accrued while the grant sits in the Sharks' St George bank account.

The Sun-Herald documented the Sharks' financial woes in September.
The just released football club's annual report confirms:
 The leagues club showed a low $44,000 profit.
 The leagues club's annual grant to the football club had increased by $300,000 to $1.8 million.
 The money paid to the football club's staff - coaches, players, management - increased by $1 million in 2005.
 Match-day revenue in 2006 dropped by $300,000.
 The football club had to borrow another $600,000 from the bank.
The leagues club's report was just as alarming:
 In just two years the Sharks Group had turned a $1 million profit into a $1 million loss.
 The club paid $300,000 in poker machine tax. That figure will increase next year.
 The leagues club plans to borrow $800,000 to construct "smoking decks" for when the government bans smoking in all licensed premises.

[excerpts]
Full story: link


This follows up a report a few months earlier where the Sharks No.1 ticket holder, Treasurer Peter Costello, was declaring that the Sharks were 'debt free'.

Here: http://www.treasurer.gov.au/tsr/content/transcripts/2006/045.asp


To quote former Sharks coach John Lang:
"The Sharks have no influence and no money... They have spent half their history staving off bankruptcy"
- John Lang

In the early days of his tenure, I recall that none other than Ricky Stewart made a few comments about their (lack of) resources and business prowess.

I dont know if he is qualified to turn the financial fortunes around but certainly he would have had a degree of exposure to the white collar world at the Roosters.

When I posted a comment on the Sharks thread earlier in the year about their need to establish stronger links with corporate Australia, there wasnt a lot of enthusiasm for the idea.

I am sure that Ricky and some of their brighter people will challenge that thinking.

And they are having a wonderful year, hats off to them, but lets hope that apathy doesnt endanger their club.

My friend in the club rennovation industry notes that these decks clubs are building threaten revenue as people have to walk away from the machines to smoke. This will also affect state govt revenue. Educated minds are working to resolve this 'problem' as we post.

BTW good post Willow.

 

[The Preacher]

The minute-man!

Another graduate from Preachers Anti-SNAG "This wont take long, did it ?" School of Yobboism.

 

[bobmar28]

It would be a chance to get rid of that silly name "Dragons". How about "Southern Sharks".

 

[Willow]

Comprehension ain't what it used to be.
Public education definitely needs more funding.

 

[Drew-Sta]

It would be a chance to get rid of that silly name "Dragons". How about "Southern Sharks".

Another wanker. Line up over there will you.

Don't let the door hit your ass on the way out.

 

[The Preacher]

It would be a chance to get rid of that silly name "Dragons". How about "Southern Sharks".

I'd rather get rid of that silly name "bobmar28", and replace it with the more befitting, "Dumbf**k" !!!

 

[God-King Dean]

The St Illa Nulla Steel Dragarks. I like it !

 

[Father Ted]

Sourpussys.

It would make for a fine side, three great venues, thousands of extra fans and extra marketing and product revenue. doshish slurrp.

And it would stop the Sharks from ever winning a premierhip in their own right ( which I would be sad about ...but you guys would be very happy about).

But what would this super-club be called?

The Illawarra Sharks.

What if the mighty red V ends up on the socks?

You Saints guys cant keep your eyes off other clubs can you?

The rakes of rugby league!

I'll put up a proposed team after origin tonight for your enjoyment- if I find the time.

The coach is a no-brainer anyway!

Gaz in black and blue!

Pffft! Awesome!

Then youse can sell it as a giant southern feeder team for the mighty rabbitohs.

When it was on the drawing board during the Super League (the Filth) war they were to be know simply as the Gladiators . Sounds like an opening for Rusty the mobil phone hurler there if you ask me Dave .

 

[Father Ted]

It would be a chance to get rid of that silly name "Dragons". How about "Southern Sharks".

I think we should celebrate with you Flannelette wearer , after all thats as close as you've ever come to an original thought isn't it .

 

[Dave Q]

Selection 1: Doust to manage the Illawarra Sharks.

Stay tuned for the player selections lads...this could get heated!

And I have a shock outside selection as coach!

Constructive comments will be very welcome...

Yes Preach, that includes you, stop hiding!

 

[Father Ted]

Selection 1: Doust to manage the Illawarra Sharks.

Stay tuned for the player selections lads...this could get heated!

And I have a shock outside selection as coach!

Constructive comments will be very welcome...

I thought you had more class than to associate with super leaguers Dave .

 

[Dave Q]

I thought you had more class than to associate with super leaguers Dave .

I didnt start this father, its not my thread, I am just trying to value-add for the good of the league.

Did you know that I'm still suffering from the effects of my lesson in the swamp last week father?

I havent been the same since. Those spurs were sharp and the hot iron, my cheeks and ...well enuff said.

Anyway, on with the selections..first up I think of the good players that spring to my mind in order and then fill in the rest later:-

Gaz
Thommo
Bird
Gallen
Noddy
Young
Head
Nightingale
Cooper
Wes
Simmons
Poore

I have to stop and draw breath, but the side 'tis taking shape.

Runner: Mary for sure.

Sleeve Sponser: Kmart Auto.

 

[The Preacher]

Yes Preach, that includes you, stop hiding!

I wasn't hiding, I just wasn't at the computer.
You see Dave, I only hop on the forum during work time. You don't really think I'd waste my recreation time sitting at a keyboard reading your views on footy, morals, the state of the nation and what movie Maximus is making next, do you ???

 

[brendothejet]

Okay, say this thing gets momentum..do we all march on tom uglys and captain cook bridge in our jerseys and banners with sharks fans to protest...