Ozzi_78
First Grade
- Messages
- 6,400
I’m not sure but I think the one thing keeping us “safe” is that we own that ground. We need a rich sugar daddy to just give us 50M to fix it up a bit.
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I’m not sure but I think the one thing keeping us “safe” is that we own that ground. We need a rich sugar daddy to just give us 50M to fix it up a bit.
This is incredible.Sharks acquiring more assets…. Yep going broke indeed.
Sharks move into the heart of Cronulla by purchasing former Westpac building
The building will be converted into a new Sharks merchandise store and central office.www.theleader.com.au
I don’t think our strategy extends that far. Currently it is to secure assets that appreciate in the face of pokie reform. The club wants to stay at sharks park and I don’t think our long term vision is to sell the land and fund a new stadium even partially.
You can see him doing it, he won't take it well in regards to grounds not getting upgrades
Building cost $7.1m. Given that and its location, i suspect they have long term plans to develop it as well.Sharks acquiring more assets…. Yep going broke indeed.
Sharks move into the heart of Cronulla by purchasing former Westpac building
The building will be converted into a new Sharks merchandise store and central office.
The Leagues club not opening until Feb 2024 at the earliest, and Aug 24 at the latest.
A new roof is needed and more cash.
Sharks Leagues Club fit-out cost blows out and opening pushed back
The fit-out cost has risen to between $28.5 million to $30 million, and the opening pushed back to...www.theleader.com.au
I'd copy and paste the whole article but its a real pain with that site.
Sharks Leagues Club hit by unforeseen costs and industry woes
By Murray Trembath
Updated April 11 2023 - 6:38pm, first published 4:30pm
Computer generated image of the club showing the north-facing deck. A small pool has since been added to plans.
Unexpected construction costs and procurement delays have impacted the new Sharks Leagues Club.
The fit-out cost has risen to between $28.5 million to $30 million, and the opening pushed back to February 2024 best case scenario, and August 2024 worst case scenario.
The club had hoped the project would by completed by mid to late 2023.
Sharks chief executive Dino Mezzatesta said, "We are working hard to find solutions to a roof replacement and facade replacement that have contributed to the time blow out".
"Both were not provisioned or accounted for as works required to be done and there are long procurement lead in times and designs to be completed for both projects.
Computer generated image of the redeveloped leagues club. Picture supplied
"It was never envisaged that we would have to replace the entire roof on the building.
"Once it was realised that the roof was going to be new, the secondary problem that arose was flashing a new roof to the old facade. Our engineers advised us it was best to replace it to ensure the building is water tight and not compromised with an old structure.
"We have also been impacted by cost escalations across the industry."
Mr Mezzatesta said in the club's annual report Sharks at Kareela had "again proved to be the ideal home-away-from-home during the 2022 season".
"As we were upon acquiring the club, we remain delighted with the facilities and service Sharks at Kareela offers and have no doubt it will continue to be a valuable asset in complementing our new Sharks Leagues Club at Woolooware once construction has been completed," he said.
"We also revealed discussions had taken place last year surrounding another potential amalgamation with a licensed Club in Coffs Harbour, the Park Beach Bowling Club, in what were plans to add to our licenced club and property portfolio.
"While our initial amalgamation proposal was rejected by their board, our approach was noted in their Annual Report and with the success of our football partnership with the Coffs Harbour region we haven't ruled out the possibility of exploring similar opportunities in the future."
The annual report said membership figures remain strong, now numbering over 27,000.
Meanwhile, Sutherland Shire Council has approved the development application for new features in the leagues club at Woolooware Bay, which have been added since earlier approvals.
They include a family play area and "small" pool on the north-facing deck and to have amplified live music, including bands, on the deck until 10pm.
A 24-month trial period and other conditions on the deck operations were imposed.
The total number of patrons on the premises at any time must not exceed a total capacity of 3170. The maximum number on the deck will be 850.
The approval states the premises are not permitted to be used as a nightclub.
That’s the thing though cheese is the club keeps saying they have secured their future there but I see no way of them staying there long term. Just bought 7M property at Cronulla but say they have higher development costs. Where is all this money coming from?
I reckon there were provisions from the developer/builder to be paying a sum each year that covers the lost income. The longer it goes on the more they are paying.
The club was getting a sum each year the team were at Kogarah, 2-3 million per year? something like that. Hopefully that has carried on for each year after.
