Thanks for the detailed responses. That comment about the 314 properties is quite astounding. I know CS are not stumping up development money but if you average out the unit cost at, say, $400,000, that comes out at around 125 mil. It wouldn't cost anything like that to develop them. I think you're being done over.
Someone mentioned items 1-4. Item 1 is obviously critical. Item 2 is as well but what sort of base are you coming off? Item 3 will take care of itself and Item 4 sounds like it is absolutely critical.
My advice re Morrison still stands. My other advice, while seemingly obvious, is to make absolutely certain you have good management. My club, Souths, were blind to the idea, believing that George Piggins would see us right. Well, he didn't. Yes, he loved the club and all the rest of it (but doesn't seem to love it som much these days, especially when someone from the tellucrap sticks a microphone under his nose). He also sold off our crown jewels in Chalmers St, bit by bit, until there was literally nothing left. Like it or not, Souths, through very strong financial management, are very well off. That is through five years of private ownership. I know the on field performances haven't really delivered but as of today, there are about 10000 bums on seat memberships already sold. That is nearly three million.
Without private ownership, they would have nothing. Has Cronulla considered some sort of owner buyout? You obviously have an asset (probably worth the whole of Chalmers St), approval pending. Selling 49% afor about 50 mil and making up the other 51% in membership shares combined as an IPO would/could/should raise the other 50. After all, the asset would not be something so basic as a football team (all of them are basically worthless) but real bricks and mortar.
